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:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Product Type, Voltage Range, System, Communication Protocol, End Use Industry, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
China, Japan, India, South Korea, Australia, Indonesia, Germany, France, United Kingdom, Italy, Spain, Russia, United States, Canada, Brazil, Mexico
Companies Covered
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
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
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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