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Global Servo Motors and Drives Market Projected to Reach US$ 16.2 Billion by 2027

According to IMARC Group latest published report, titled “Servo Motors and Drives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” that the global servo motors and drives market size reached US$ 12.2 Billion in 2022. Looking forward, the market expected to reach US$ 16.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.

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.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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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.

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Competitive landscape

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.

The report cover the below key market segments:

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

By Geography:

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

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.

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