Servo Motors and Drives Market

Market Overview:

The global servo motors and drives market size reached US$ 12.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.

Servo motors and drives refer to the automated linear or rotary actuators used for precise position control in industrial machineries, such as conveyor belts, packaging machines, food processing units, semiconductors and robots. They are a crucial component of the servo motor controller and operate in closed-loop mechanisms that register positional feedback to control the rotational speed of the motors. Some of the most commonly used servo motors and drives include simple direct current (DC) brushless, brushed, linear servo motors and alternating current (AC) motors and drives. They are commonly used as an amplifier to control the amount of current being transferred to the motor. As a result, they find extensive applications across various industries, including automotive, semiconductor and electronics, healthcare, packaging, oil & gas and chemicals & petrochemicals.

The increasing automation in factories and other industrial units represents one of the key factors driving the growth of the market. In line with this, the widespread utilization of robotics across industries is also augmenting the market growth. Industrial robots are widely used for assembly, pick-up and manufacturing applications. Rotary servo motors enable interaction between magnets and winding, and offer various advantageous properties, including high-resolution precision feedback, high torque density and minimal energy consumption. This, along with various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and artificial intelligence (AI), is also contributing to the market growth. In line with this, product manufacturers are also using lightweight materials to create gear systems for remotely assisted products, such as drones and small-sized robots. Other factors, including rapid industrialization, along with the advent of industry 4.0, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global servo motors and drives market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, voltage range, system, communication protocol and end use industry.

Breakup by Product Type:

• Servo Motors
  • AC Servo Motor
  • DC Brush Less Servo Motor
  • Brushed DC Servo Motor
  • Linear Servo Motor
• Servo Drives
  • AC Servo Drive
  • DC Servo Drive
  • Adjustable Servo Drive
  • Others
     

Breakup by Voltage Range:

• Low Voltage
• Medium and High Voltage
   

Breakup by System:

• Linear System
• Rotary System
   

Breakup by Communication Protocol:

• Fieldbus
• Industrial Ethernet
• Wireless
   

Breakup by End Use Industry:

• Machine Tools
• Packaging
• Robotics
• Semiconductors
• Electronics
• Rubber and Plastics
• Others
   

Breakup by Region:

• Asia Pacific
  • Japan
  • China
  • South Korea
  • India
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• North America
  • United States
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being 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.

Report Coverage: