Global Servo Motors and Drives Market to Grow at 4.7% During 2023-2028, Spurred by Advent of Industry 4.0

September 14, 2021

According to the latest report by IMARC Group, titled "Servo Motors and Drives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global servo motors and drives market reached a value of US$ 12.2 Billion in 2022. Servo motors and drives are critical machinery that is widely used for precise position control and automation across various industries. These automated linear or rotary actuators consist of a combination of electronic parts, including the AC and DC motors. These components are commonly operated in a closed-loop mechanism to register the position feedback and control the rotational speed of the machinery. These motors and drives are employed as an amplifier to control the amount of current that is being transferred to the motor. They are also widely utilized for minimizing errors, incorporating precise dimensional tolerance, offering advanced design methods, and reducing the overall cost of manufacturing. Consequently, they are used across the healthcare, automotive, semiconductor and electronics, and chemicals and petrochemicals industries for vast application segments.

Global Servo Motors and Drives Market Trends:

The global market is primarily driven by the growing automation across various industrial processes to achieve high production outputs with reduced labor costs and production wastages. This has led to the rising deployment of servo motors and drives across the industrial sector, thereby providing a thrust to the market growth. Along with this, the advent of industry 4.0 is expected to create numerous growth opportunities in the market. The rising integration of industry 4.0 technology with existing processes aids in optimizing all the aspects of manufacturing processes and supply chain. It provides the players with real-time data and insights that are expected to boost the efficiency and overall profitability of their operation. This has enabled numerous players to replace conventional motors with servo motors and drives in an attempt to streamline business operations and improve production. Furthermore, several players are now employing industrial robots for numerous applications, including assembly, pick-up and manufacturing applications, across diverse industry verticals. They are further utilizing iron alloys to make lightweight gear systems for servo motors that can be used in remotely assisted products, such as drones and small-sized robots. On account of these factors, the market is expected to grow at a CAGR of 4.7% during 2023-2028.

Market Summary:

  • On the basis of the product type, the market has been divided into servo motors (AC, DC brushless, brushed DC and linear servo motors) and servo drives (AC, DC, adjustable and other servo drives).
  • Based on the voltage range, the market has been classified into low voltage, and medium and high voltage.
  • On the basis of the system, the market has been bifurcated into linear and rotary system.
  • On the basis of the communication protocol, the market has been segmented into fieldbus, industrial ethernet and wireless.
  • Based on the end use industry, the market has been divided into machine tools, packaging, robotics, semiconductors, electronics, rubber and plastics, others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include ABB Ltd., Bosch Rexroth AG, Delta Electronics, Inc., Emerson Electric Co., Fanuc Corporation, Mitsubishi Electric Corporation, Nidec Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yaskawa Electric Corporation.


About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us

IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-080

Global Servo Motors and Drives Market to Grow at 4.7% During 2023-2028, Spurred by Advent of Industry 4.0
Select Licence Type



Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More