Global Servo Motors and Drives Market was valued USD XX Bn in 2018 and is expected to reach US$ 20.30 Bn by 2026, at CAGR of XX% during forecast period of 2019 to 2026.
Global Servo Motors and Drives Market Drivers and Restrains:
Rapid growth and advancements in automation, coupled with increasing adoption of international energy-efficient standards, are some of the factors influencing market growth. Rising electricity prices, stringent electricity utilization standards, and need to replace outdated low-efficient electric motors with highly efficient servo motors is expected to increase their demand during the forecast period.
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Increasing vehicle production worldwide, increasing demand for high-performance motors, and positive outlook of manufacturing industries are key factors responsible for market stabilization and growth. The market has been expanding into a broader range of industries and applications to increase its resilience to any single sector downturn.
Future markets are expected to rely heavily on servo systems over other motor technologies like stepper motors owing to their high accuracy and speed. Servo motor offering many features such as higher torque, lightweight, increased speed, and reduced size are unfolding new market opportunities. Also, reduction in prices of these devices has enabled manufacturers to move their focus on improving production techniques, advanced designs, and production time. All these factors are expected to drive market growth by 2026.
Manufacturers in the servo motors and drives are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Global Servo Motors and Drives Market Segmentation Analysis:
The AC motor segment is expected to grow at the largest CAGR during the forecast period. Increasing sales of electric vehicles are expected to fuel the segment through 2025. AC motors are relatively lighter and smaller and are commonly used in home appliances, HVAC equipment, industrial and manufacturing facilities. Furthermore, they are cost-effective as they incur negligible or no maintenance cost. Because of their construction, they do not include accessories such as brushes, slip rings, or commutators.
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Based on the application, the aerospace and transportation segment is expected to grow at the highest CAGR during the forecast period. The AC servo motors are used in the aerospace industry in hydraulic systems, which contain system hydraulic fluid. Implementation of automation tools in application industries has further resulted in cost-savings and reduced operation time in manufacturing and inventory processes. Significant developments in technology, like the integration of hardware and software, has expanded the scope of these motors.
Global Servo Motors and Drives Market Regional Analysis:
The servo motors and drives market in Asia Pacific is anticipated to account for the highest revenue share in the servo motors and drives market and expected to grow at a faster rate in the servo motors and Drives market during the forecast period. This dominance is attributed to rapid industrialization, semiconductor, coupled with growing automotive, and other industries, increasing government initiatives and funding in many projects for smart and digitalized infrastructure. The Europe market is expected to register moderate growth in terms of value in the servo motors and drives market, owing to increased demand for the product in industrial and automotive sectors. Also, the servo motors and drives are used in various applications to increase energy efficiency and reduce power losses. The North America market is expected to register moderate growth rate in the global servo motors and drives market owing to increasing use for energy-efficient devices.
A report covers the recent development for servo motors and drivers market like In April 2019- Siemens AG launched an enclosed IEC motor for industrial and construction application, which highlighted the product innovation performance of the company.
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding global servo motors and drives market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global servo motors and drives market.
Scope of the Global Servo Motors and Drives Market:
Global Servo Motors and Drives Market, by Servo Drives Type:
• AC servo drives
• DC servo drives
• Adjustable speed
Global Servo Motors and Drives Market, by Servo Motors Type:
• AC servo motors
• DC brushless
• Brushed DC
• Linear servo motors
Global Servo Motors and Drives Market, by Technology:
• Single axis servo system
• Multiple axis servo system
Global Servo Motors and Drives Market, by Application:
• Semiconductor and Electronics
• Material handling
• Food processing
• Aerospace and Transportation
Global Servo Motors and Drives Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Servo Motors and Drives Market, Major Players:
• Siemens AG
• Baldor Electric Company
• Yaskawa Electric Corporation
• Mitsubishi Electric Corporation
• Rockwell Automation Inc.
• Schneider Electric S.E
• Emerson Electric Co.
• Parker Hannifin Corporation
• Nidec Corporation
• ABB Ltd.
• Panasonic Corporation,
• Delta Electronics, Inc.
• Fuji Electric Co., Ltd.
• Hitachi Industrial Equipment Systems Co. Ltd
• Applied Motion Products, Inc.
• Altra Industrial Motion Corp.
MAJOR TOC OF THE REPORT
Chapter One: Servo Motors and Drives Market Overview
Chapter Two: Servo Motors and Drives Manufacturers Profiles
Chapter Three: Global Servo Motors and Drives Market Competition, by Players
Chapter Four: Global Servo Motors and Drives Market Size by Regions
Chapter Five: North America Servo Motors and Drives Revenue by Countries
Chapter Six: Europe Servo Motors and Drives Revenue by Countries
Chapter Seven: Asia-Pacific Servo Motors and Drives Revenue by Countries
Chapter Eight: South America Servo Motors and Drives Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Servo Motors and Drives by Countries
Chapter Ten: Global Servo Motors and Drives Market Segment by Type
Chapter Eleven: Global Servo Motors and Drives Market Segment by Application
Chapter Twelve: Global Servo Motors and Drives Market Size Forecast (2019-2026)
Browse Full Report with Facts and Figures of Servo Motors and Drives Market Report at: https://www.maximizemarketresearch.com/market-report/global-servo-motors-and-drives-market/36286/
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: MAXIMIZE MARKET RESEARCH PVT. LTD.
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