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:
AC Servo Motor
DC Brush Less Servo Motor
Brushed DC Servo Motor
Linear Servo Motor
AC Servo Drive
DC Servo Drive
Adjustable Servo Drive
Breakup by Voltage Range:
Medium and High Voltage
Breakup by System:
Breakup by Communication Protocol:
Breakup by End Use Industry:
Rubber and Plastics
Breakup by Region:
Middle East and Africa
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.
Base Year of the Analysis
Product Type, Voltage Range, System, Communication Protocol, End Use Industry, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
China, Japan, India, South Korea, Australia, Indonesia, Germany, France, United Kingdom, Italy, Spain, Russia, United States, Canada, Brazil, Mexico
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
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Key Questions Answered in This Report
The global servo motors and drives market was valued at US$ 12.2 Billion in 2022.
We expect the global servo motors and drives market to exhibit a CAGR of 4.7% during 2023-2028.
The rising adoption of servo motors and drives as an amplifier across various industries, such as automotive, semiconductor and electronics, healthcare, packaging, etc., is primarily driving the global servo motors and drives market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for servo motors and drives.
Based on the product type, the global servo motors and drives market can be divided into servo motors and servo drives, where servo motors currently hold the majority of the total market share.
Based on the voltage range, the global servo motors and drives market has been segmented into low voltage and medium and high voltage. Currently, low voltage exhibits clear dominance in the market.
Based on the system, the global servo motors and drives market can be categorized into linear system and rotary system, where rotary system currently accounts for the largest market share.
Based on the communication protocol, the global servo motors and drives market has been segregated into fieldbus, industrial ethernet, and wireless. Currently, fieldbus holds the majority of the global market share.
Based on the end use industry, the global servo motors and drives market can be bifurcated into machine tools, packaging, robotics, semiconductors, electronics, rubber and plastics, and others. Among these, machine tools exhibit a clear dominance in the market.
On a regional level, the market has been classified into Asia Pacific, Europe, North America, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global servo motors and drives market 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.
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