Press release
2025-2034 Servo Motors and Drives Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Servo Motors and Drives
What Is the Expected CAGR for the Servo Motors and Drives Market Through 2025?
The market for servo motors and drives has experienced significant growth in the past few years. The market is projected to expand from a size of $16.26 billion in 2024 to $17.42 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.1%. The robust growth during the historical period is primarily due to the adoption of automation and robotics, the need for high-accuracy control, an increase in factory automation, the rising demand for IoT and connectivity, and a growing focus on energy efficiency.
What's the Projected Size of the Global Servo Motors and Drives Market by 2029?
The market size for servo motors and drives is forecasted to experience substantial expansion over the coming years, and is projected to reach a value of $22.53 billion by 2029, with a compound annual growth rate (CAGR) of 6.6%. This predicted growth within the specified timeline can be related to factors such as environmentally friendly and sustainable manufacturing, the increasingly popular trend of electric vehicles, the blossoming e-commerce and logistics sectors, and the incorporation of servo systems. Key trends during this forecast period are expected to include the incorporation of industry 4.0, the adoption of renewable energy sources, integration of edge computing, implementation of advanced motion control algorithms, and the development of sophisticated motion.
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Top Growth Drivers in the Servo Motors and Drives Industry: What's Accelerating the Market?
The increase in automation is projected to fuel the expansion of the servo motors and drives market. Servo motors and drives form an integral part of automation systems including robots, conveyor systems, and others found in manufacturing facilities. For example, in April 2024, the International Federation of Robotics shared that a Germany-based automation machinery manufacturing firm experienced a sales hike of 1% in the automotive sector in 2023. This led to a record-setting installation of 14,678 robots, following an impressive 47% escalation in 2022 that concluded with the setting up of 14,472 units. Consequently, this surge in automation provides a positive momentum to the growth of the servo motors and drives market.
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What Trends Will Shape the Servo Motors and Drives Market Through 2029 and Beyond?
The servo motors and drives market is greatly influenced by the trend of technological evolution. Improvements in technology assist in refining the product design and in streamlining motion control processes. For example, in February 2022, Trio Motion Technology, an enterprise based in India renowned for its superior motion control technology, launched DX4 servo drive and MX servo motor series. These products deliver high-end motion control function. The DX4 servo drive is seamlessly compatible with controllers and I/O systems, all operating from a single software, Motion Perfect, thereby accelerating application development and commissioning for OEMs in sectors like packaging, medical, and robotics. Beyond this, the DX4 servo drive can function effectively at 200V AC and offers power ranging from 50W to 3kW when combined with EtherCAT communications. The Motion Coordinator collection can supervise up to 128 axes with remarkable precision.
What Are the Main Segments in the Servo Motors and Drives Market?
The servo motors and drives market covered in this report is segmented -
1) By Offering: Hardware, Software
2) By Type: Motor, Drive
3) By Voltage Range: Low-Voltage, Medium-Voltage
4) By End User: Automotive, Oil and Gas, Healthcare, Packaging, Semiconductor and Electronics, Chemicals and Petrochemicals
Subsegments:
1) By Hardware: Servo Motors, Servo Drives, Feedback Devices, Accessories
2) By Software: Motion Control Software, Simulation Software, Configuration and Tuning Software, Monitoring and Diagnostic Software
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Which Top Companies are Driving Growth in the Servo Motors and Drives Market?
Major companies operating in the servo motors and drives market include Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Fuji Electric Co. Ltd., Yaskawa Electric Corporation, Emerson Electric Co., Rockwell Automation Inc., Estun Automation Co. Ltd., Kinco Automation (Shanghai) Ltd., Danfoss A/S, ESR Pollmeier GmbH, Heason Technology Ltd., Elmo Motion Control Ltd., KEB Automation KG, Omron Corporation, FANUC Corporation, Hitachi Ltd., Oriental Motor USA Corp., Delta Electronics Inc., Panasonic Corporation, Kollmorgen Corporation, Parker Hannifin Corporation, Moog Inc., Nidec Motors & Actuators, Wittenstein Inc., Celera Motion, Harmonic Drive LLC, LinMot USA Inc., Drive System Design Inc., AutomationDirect, Bearing Distributors Inc., Sinotech, Teknic Inc., Applied Motion Products Inc., Anaheim Automation Inc., Advanced Motion Controls
Which Regions Will Dominate the Servo Motors and Drives Market Through 2029?
Asia-Pacific was the largest region in the servo motors and drivers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the servo motors and drives market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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