Global Servo Motors and Drives Market Size Was Valued At USD 14.38 Billion In 2022 And Is Projected To Reach USD 22.58 Billion By 2030, Growing At A CAGR Of 5.8% From 2022 To 2030.
A servo motor is an electric motor capable of precise control over angular or linear position, velocity, and acceleration. It operates with the help of a servomechanism, enabling accurate and controlled movement. Typically, a specialized controller module is used in conjunction with servo motors to achieve the desired performance. These motors find application in various fields, such as robotics, CNC machinery, automated production, and factory automation.
On the other hand, a servo drive is an electronic amplifier responsible for supplying power to the servo motor. It plays a crucial role in determining the performance of the entire servo system. Both servos motors and drives act as automated actuators, enabling precise position control in industrial machinery, including conveyor belts, packaging machines, food processing units, semiconductor manufacturing, and robotic systems.
Top Key Players in Servo Motors and Drives Market:
Yaskawa Electric (Japan), Mitsubishi Electric (Japan), Siemens (Germany), Schneider Electric (France), Rockwell Automation (US), ABB (Switzerland), NIDEC (Japan), Delta Electronics (Taiwan), FANUC (Japan), Fuji Electric (Japan), Kollmorgen Corporation (US), Parker Hannifin Corporation (US), Omron Corporation (OMRON) (US), SEW Eurodrive (Germany), LENZE (Germany), Bosch Rexroth AG (Germany), and Other major players.
Market Dynamics and Factors for Servo Motors and Drives Market:
Drivers:
Increasing Demand for Energy-Efficient Devices
The increasing demand for energy-efficient devices is a significant driver behind the growth of the Servo Motors and Drives Market. As industries and consumers alike become more conscious of environmental sustainability and cost-saving measures, there is a growing emphasis on using energy-efficient technologies, including servo motors and drives.
Servo motors and drives are designed to offer higher energy efficiency compared to traditional motors and control systems. They incorporate advanced technologies, such as variable frequency drives (VFDs) and brushless designs, which minimize energy losses during operation. As energy costs continue to rise, industries seek more efficient solutions, driving the adoption of servo motors and drives.
Opportunities:
Rapidly Developing Trend of Industry 4.0
The rapidly developing trend of Industry 4.0 presents a significant opportunity for the Servo Motors and Drives Market. As more industries embrace Industry 4.0 principles to enhance productivity, efficiency, and flexibility, the demand for advanced servo motors and drives is expected to soar.
Industry 4.0 emphasizes the use of automation and robotics to streamline production processes and achieve higher levels of efficiency. Servo motors and drives play a crucial role in precise motion control, making them essential components in industrial robots, automated assembly lines, and smart factories.
Segmentation Analysis of the Servo Motors and Drives Market:
- By Product Type, the Servo Motors segment is excepted to dominate the market. Servo motors are electric motors designed to provide precise control over angular or linear position, velocity, and acceleration. They are a critical component in various industrial applications where precise and accurate motion control is required.
- By End User Industry, Automotive is likely to dominate in this area. The automotive industry is a significant end-user of servo motors and drives, driving demand and growth in the Servo Motors and Drives Market. Servo motors and drives play a crucial role in various applications within the automotive sector, enabling precise and efficient motion control in vehicles and manufacturing processes.
Regional Analysis of the Servo Motors and Drives Market:
The Asia-Pacific region is projected to experience rapid growth in the Servo Motors and Drives Market during the forecast period. This growth is primarily attributed to the region's expanding industrial activities and the increasing need for faster and more precise motors and drives to enhance productivity. Additionally, the rising demand for cost-effective energy production processes and software systems is further contributing to market expansion in this region.
Key Industry Development:
- In July 2022, Yaskawa introduced the JL-L000A communications ASIC to support MECHATROLINK-4, a new-generation industrial network with four times the transmission efficiency of its predecessor. This interface will be compatible with controllers and servo packs.
- In April 2021, Siemens added new servo motors to its Sinamics S210 single-cable servo drive system for a variety of applications, particularly in the pharmaceutical and food processing industries.
