Servo Motors and Drives Market size to grow at a CAGR of 5.16% from 2022 to 2027, Increasing demand for integrated servo motors and brushless motors to drive the market growth
NEW YORK, April 24, 2023 /PRNewswire/ -- Technavio has been monitoring the servo motors and drives market, and it is expected to grow by USD 3,958.7 million from 2022 to 2027. As per the latest report, the market will progress at a CAGR of 5.16% during the forecast period. This report aid business leaders with an up-to-date analysis that includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. Technological advances and new product developments is an emerging trend in the market during the forecast period. Servomotors and drives are used in a wide variety of industrial applications. Faced with the need for servo motors in new application areas, suppliers offer advanced servo systems, including controllers, servo motors, and servo drives with enhanced features and special designs. Vendors offer robust engines that meet the extreme operating requirements of process industries such as oil and gas, and chemical and petrochemicals. Click & get Latest Sample Report within minutes!
Servo Motors and Drives Market 2023-2027: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our servo motors and drives market report covers the following areas:
Servo Motors and Drives Market size
Servo Motors and Drives Market trends
Servo Motors and Drives Market industry analysis
Servo Motors and Drives Market five forces analysis
Servo Motors and Drives Market competitive landscape
Servo Motors and Drives Market 2023-2027 : Market Dynamics
Increasing demand for integrated servo motors and brushless motors is driving the market growth. Servo and brushless motors are used in a variety of applications including robotics, conveyor belts, compressors, and material handling equipment in process and discrete industries. The extensive use of precision motors in harsh environmental conditions in industrial processes in the oil and gas, power, chemical and petrochemical, and pharmaceutical industries has increased the demand for servo motors and brushless motors.
Intense competition from low-cost Asian manufacturers is a major challenge hindering market growth. Asian countries are known for their ready availability of cheap labor, land, and raw materials. Therefore, these countries are attracting large amounts of investment in manufacturing. However, in recent years, cheap imports from Chinese and other Asian manufacturers have entered the American and European markets. Asian companies like Kollmorgen manufacture servo motors and drives at significantly lower costs compared to global suppliers who are based in Europe and America. This is due to the availability of cheap labor and abundant resources in Asian countries. Hence, such challenges impede the market growth during the forecast period.
Servo Motors and Drives Market 2023-2027 : SegmentationServo Motors and Drives Market is segmented as below:
The market share growth by the DC servo motors/drives segment will be significant for the market growth during the forecast period. Due to the development of renewable energy, the construction of power distribution networks that distribute direct current is progressing. Most global grid solution providers such as ABB Ltd. (ABB) provide high-voltage DC systems for transmission and distribution (T&D) over the grid. Therefore, the demand for medium voltage DC servo motors is expected to increase during the forecast period. Thus, such factors influence the growth of the segment, which, in turn, drives market growth.
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Servo Motors and Drives Market 2023-2027: Vendor Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. We provide a detailed analysis of around 25 vendors operating in the Servo Motors and Drives Market, including some of the vendors such as Danfoss AS, Delta Electronics Inc., Emerson Electric Co., FANUC Corp., Fuji Electric Co. Ltd., Kollmorgen Corp., Mitsubishi Electric Corp., Nidec Corp., OMRON Corp., Regal Rexnord Corp., Robert Bosch GmbH, Rockwell Automation Inc., Rozum Robotics, Schneider Electric SE, SEW EURODRIVE GmbH and Co KG, Siemens AG, Yaskawa Electric Corp., ABB Ltd., ADTECH SHENZHEN TECHNOLOGY CO. LTD., and Parker Hannifin Corp. Backed with competitive intelligence and benchmarking, our research reports on the Servo Motors and Drives Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
Danfoss AS - The company offers servo motors and drives that are used for diverse industrial applications such as packaging, textile, printing, food and beverage, electronics and electrical.
Emerson Electric Co. - The company offers servo motors and drives that offer great benefits in diverse applications, such as turntables, labeling, capping, and packaging of food and pharmaceuticals.
FANUC Corp. - The company offers servo motors and drives that are provided with a superior digital signal processor (DSP) which represents a high-speed performance of the control circuit loop.
Servo Motors and Drives Market 2023-2027: Key Highlights
CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist servo motors and drives market growth during the next five years
Estimation of the servo motors and drives market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the servo motors and drives market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of servo motors and drives market vendors
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Related Reports:The low voltage motors market size is expected to increase by USD 4.98 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.81%. Furthermore, this report extensively covers low voltage motors market segmentation by end-user (process industries, discrete industries, and HVAC), type (IE2, IE1, IE3, and IE4), and geography (APAC, North America, Europe, MEA, and South America). The rising focus on increasing energy efficiency of electrical components and equipment is notably driving the low voltage motors market growth.
The industrial gear motors and drives market size is expected to increase by USD 4.76 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.33%. Furthermore, this report extensively covers industrial gear motors and drives market segmentation by end-user (material handling, food and beverages, wind power, chemicals and oil and gas, and others), type (standard geared products and precision geared products), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The growing demand for energy-efficient industrial gear motors and drives is notably driving the industrial gear motors and drives market growth.
Servo Motors And Drives Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 5.16%
Market growth 2023-2027
USD 3,958.7 million
YoY growth 2022- 2023 (%)
APAC, Europe, North America, Middle East and Africa, and South America
Performing market contribution
APAC at 60%
US, China, Japan, Germany, and UK
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Danfoss AS, Delta Electronics Inc., Emerson Electric Co., FANUC Corp., Fuji Electric Co. Ltd., Kollmorgen Corp., Mitsubishi Electric Corp., Nidec Corp., OMRON Corp., Regal Rexnord Corp., Robert Bosch GmbH, Rockwell Automation Inc., Rozum Robotics, Schneider Electric SE, SEW EURODRIVE GmbH and Co KG, Siemens AG, Yaskawa Electric Corp., ABB Ltd., ADTECH SHENZHEN TECHNOLOGY CO. LTD., and Parker Hannifin Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
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Table Of Contents :
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global servo motors and drives market 2017 - 2021
4.2 Product Segment Analysis 2017 - 2021
4.3 Type Segment Analysis 2017 - 2021
4.4 Geography Segment Analysis 2017 - 2021
4.5 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Product
6.1 Market segments
6.2 Comparison by Product
6.3 DC servo motors/drives - Market size and forecast 2022-2027
6.4 AC servo motors/drives - Market size and forecast 2022-2027
6.5 Market opportunity by Product
7 Market Segmentation by Type
7.1 Market segments
7.2 Comparison by Type
7.3 Rotary system - Market size and forecast 2022-2027
7.4 Linear system - Market size and forecast 2022-2027
7.5 Market opportunity by Type
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 APAC - Market size and forecast 2022-2027
9.4 Europe - Market size and forecast 2022-2027
9.5 North America - Market size and forecast 2022-2027
9.6 Middle East and Africa - Market size and forecast 2022-2027
9.7 South America - Market size and forecast 2022-2027
9.8 China - Market size and forecast 2022-2027
9.9 US - Market size and forecast 2022-2027
9.10 Japan - Market size and forecast 2022-2027
9.11 Germany - Market size and forecast 2022-2027
9.12 UK - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 ABB Ltd.
12.4 Danfoss AS
12.5 Delta Electronics Inc.
12.6 Emerson Electric Co.
12.7 FANUC Corp.
12.8 Mitsubishi Electric Corp.
12.9 Nidec Corp.
12.10 OMRON Corp.
12.11 Regal Rexnord Corp.
12.12 Robert Bosch GmbH
12.13 Rockwell Automation Inc.
12.14 Rozum Robotics
12.15 Schneider Electric SE
12.16 Siemens AG
12.17 Yaskawa Electric Corp.
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
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