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Servo Motors and Drives - Global Market Trajectory & Analytics

  • ID: 4806004
  • Report
  • February 2022
  • Region: Global
  • 561 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • ABB
  • Baumüller Group
  • Emerson Electric Co
  • Hitachi, Ltd
  • Nidec Corporation
  • Panasonic Corporation

Global Servo Motors and Drives Market to Reach $16.5 Billion by 2026


Servo motors are basic electric motors that are managed for particular angular rotation, with the aid of an additional servomechanism. They include AC and DC motors and are employed in a closed loop system which uses its position feedback to regulate its rotational speed. At present, servo motors are generally used for big industrial applications for control requirements. They find application in toy cars that are remote controlled, in DVD and CD players, and in various daily life applications. Servo motors that are employed in industrial settings include speed as well as position sensing. They implement derivative control algorithms (proportional-integral) which enable the engine to quickly come into position, as the shaft`s speed can be managed.

A servo drive functions by obtaining a command signal from the control system, amplifies and transmits the electric current to a servo motor for generating motion that is in proportion to the command signal. The command signal generally represents a required velocity, however can also indicate a desired position or torque. A sensor that is connected to the servo motor notifies about the status of the motor to the servo drive. The actual motor status is compared to the commanded motor status by the servo drive.

Amid the COVID-19 crisis, the global market for Servo Motors and Drives estimated at US$13.3 Billion in the year 2020, is projected to reach a revised size of US$16.5 Billion by 2026, growing at a CAGR of 3.6% over the analysis period. Motors, one of the segments analyzed in the report, is projected to record 3.4% CAGR and reach US$10.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Drives segment is readjusted to a revised 4.1% CAGR for the next 7-year period.



The U.S. Market is Estimated at $2.2 Billion in 2021, While China is Forecast to Reach $3.9 Billion by 2026


The Servo Motors and Drives market in the U.S. is estimated at US$2.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.9 Billion by the year 2026 trailing a CAGR of 4.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR.

The market is driven by factors such as increasing automation in manufacturing, focus on efficiency, high precision, and ease of maintenance among others. Servo motors and drives are ideal for Industry 4.0 industrial automation solutions as they provide higher precision and control over operations compared to other motor types. Industrial automation or Industry 4.0 is the key trend that is pervading industries across the world. As manufacturers strive to improve efficiency, automation is being recognized as the key enabler for systems. Industrial automation involves extensive usage of technology to connect all the manufacturing systems through a network, to automate most of the processes. Servo motors and drives are best suited to achieve the networking of industrial processes as they are capable of receiving and decoding signals from the controller to achieve the desired changes. As a result, industrial manufacturing is witnessing substantial retrofits with servo motors and drives. Industrial robotics also play an important role in automation of manufacturing as routine tasks can be programmed to be achieved through robots.

Servo motors and drives play a critical role in the proper functioning of industrial robots as they need precise equipment with minimal tolerance levels to perform the tasks. As automation and robotic manufacturing pervades across the manufacturing landscape, servo motors and drives are expected to gain further momentum in future. Automotive represents the major end-use market for servo motors and drives. Modern automobiles feature multiple motors for different functions. Servo motors and drives find application in automobiles such as anti-lock braking systems, fuel injection systems, and cruise control systems. Moreover, automotive assembly extensively utilizes robots throughout the assembly line such as material handling, automated systems for chassis marriage, and painting among others. As the automotive industry moves further in adoption of automation technologies to improve productivity, the logistics segment is also benefiting from the usage of automation solutions, which is enabled by servo motors and drives.

Select Competitors (Total 111 Featured) -

  • ABB
  • ADTECH (Shenzhen) Technology Co., Ltd
  • Altra Industrial Motion
  • AMETEK, Inc
  • Applied Motion Products, Inc
  • Baumüller Group
  • Bosch Rexroth AG
  • Delta Electronics, Inc
  • Emerson Electric Co
  • FANUC CORPORATION
  • Fuji Electric Co., Ltd
  • Hitachi, Ltd
  • Kollmorgen Corporation
  • Lenze Group
  • Mitsubishi Electric Corporation
  • Nidec Corporation
  • Nippon Pulse America, Inc
  • Omron Corporation
  • Panasonic Corporation
  • Parker-Hannifin Corporation
  • Powertec Industrial Motors
  • Rockwell Automation, Inc
  • Rozum Robotics LLC
  • Schneider Electric
  • SEW-EURODRIVE GmbH & Co KG
  • Siemens AG
  • WEG
  • Yaskawa Electric Corporation
Frequently Asked Questions about the Global Market for Servo Motors and Drives

What is the estimated value of the Global Market for Servo Motors and Drives?

The Global Market for Servo Motors and Drives was estimated to be valued at $13.3 Billion in 2020.

What is the growth rate of the Global Market for Servo Motors and Drives?

The growth rate of the Global Market for Servo Motors and Drives is 3.7%, with an estimated value of $16.5 Billion by 2026.

What is the forecasted size of the Global Market for Servo Motors and Drives?

The Global Market for Servo Motors and Drives is estimated to be worth $16.5 Billion by 2026.

Who are the key companies in the Global Market for Servo Motors and Drives?

Key companies in the Global Market for Servo Motors and Drives include ABB, ADTECH (Shenzhen) Technology Co., Ltd, Altra Industrial Motion, AMETEK, Inc, Applied Motion Products, Inc, Baumüller Group, Bosch Rexroth AG, Delta Electronics, Inc and FANUC CORPORATION.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB
  • Baumüller Group
  • Emerson Electric Co
  • Hitachi, Ltd
  • Nidec Corporation
  • Panasonic Corporation

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • Percentage of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of August 2020
  • Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Industrial Activity to Remain Subdued in the Immediate Term
  • Global PMI Index Points for the Years 2018, 2019 & 2020
  • Despite Moves to Reopen the Economy, Battered Business Confidence Plummets to New Depths: Business Confidence Index (BCI) Points
  • An Introduction to Servo Motors and Drives
  • Global Prospects & Outlook
  • Competition
  • Recent Market Activity
  • Servo Motors and Drives – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • As Automation Becomes Part of Growing Industries, Processes and Factories, Demand Rises for Servo Motors & Drives
  • Increased Spending on Industrial Automation Spurs Need for Servo Motors and Drives: Global Industrial Automation Market (in US$ Billion) for the Years 2019, 2022, 2024 and 2026
  • Factory Automation Systems to Spur Demand for Servo Motors and Drives
  • Servo Motors Find Use in Emerging Applications
  • Growing Use of Robotics in Industrial Facilities Gives Rise to Market Demand
  • Industrial Robot Density (Units Per 10,000 Workers) by Country for the Years 2019 & 2023
  • Current Crisis Further Stresses the Importance of Robotics & Automation in Industrial Settings
  • Industry 4.0 and Smart Factories Trends Present Tremendous Potential for Servo Motors and Drives Market
  • Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020E
  • Auto Industry’s Shift towards Advanced and Efficient Automation Technologies Augurs Well for the Market
  • Recovery in Automotive Industry Post COVID -19 to Support Demand
  • World Automobile Production in Million Units: 2008-2022
  • Rising Prominence of Energy Efficient Electric Vehicles to Spur Demand for DC Servo Motors
  • Global Electric Car Fleet Size (In Thousand Units) for the Years 2014, 2016, 2018 and 2021
  • Semiconductor & Electronics Industry Growth Determine Dynamics in Servo Motors and Drives Market
  • Virus Led Economic Recession Impacts Current Prospects for Semiconductor & Electronics Industry
  • Measuring the Impact of COVID-19 on the Semiconductor Industry in Terms of Disruption & Time to Recovery (In Months) as of August 2020
  • Complex Operations and Intense Competition Fuel Need for Efficient Servo Motors in Textile Industry
  • Food Processing Industry Benefits from the Advent of Advanced Food-Grade Servo Motors
  • Global Processed Foods Market Revenues (in $ Billion) for the Years 2019, 2022 and 2025
  • Medical Equipment Advancements to Enhance Need for Servo Motors & Drives
  • Servo Drives Market Poised for Long-Term Healthy Growth
  • Key Emerging Trends in Servo Drives Market
  • Model-Matching Control Servo Technology Overcomes Drawbacks of Traditional PID Control
  • Rising Use of Motor Control Components in Motors: Opportunity for the Market
  • Adoption of Energy Efficiency Standards Worldwide Supports Demand for Servo Motors & Drives
  • Advancements in Servo Drives and Motors Boost Market Prospects
  • Challenges Restraining Servo Motors and Drives Market

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
  • Monthly Change in Industrial Production (in %) in China: Jan 2020 to Sep 2020

EUROPE

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Servo Motor Market in Europe: An Overview

FRANCE

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Increasing Automation in the Automotive Sector Drives the Indian Servo Drives and Motors Market

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

AFRICA

  • Servo Motors and Drives Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 111
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • ABB
  • ADTECH (Shenzhen) Technology Co., Ltd
  • Altra Industrial Motion
  • AMETEK, Inc
  • Applied Motion Products, Inc
  • Baumüller Group
  • Bosch Rexroth AG
  • Delta Electronics, Inc
  • Emerson Electric Co
  • FANUC CORPORATION
  • Fuji Electric Co., Ltd
  • Hitachi, Ltd
  • Kollmorgen Corporation
  • Lenze Group
  • Mitsubishi Electric Corporation
  • Nidec Corporation
  • Nippon Pulse America, Inc
  • Omron Corporation
  • Panasonic Corporation
  • Parker-Hannifin Corporation
  • Powertec Industrial Motors
  • Rockwell Automation, Inc
  • Rozum Robotics LLC
  • Schneider Electric
  • SEW-EURODRIVE GmbH & Co KG
  • Siemens AG
  • WEG
  • Yaskawa Electric Corporation
Note: Product cover images may vary from those shown