Servo Motors And Drives Market size is set to grow by USD 4.37 billion from 2024-2028, Increasing demand for integrated servo motors and brushless motors boost the market, Technavio

Aug 07, 2024, 17:10 ET

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NEW YORK, Aug. 7, 2024 /PRNewswire/ -- The global servo motors and drives market size is estimated to grow by USD 4.37 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.41% during the forecast period. Increasing demand for integrated servo motors and brushless motors is driving market growth, with a trend towards technological advances and new product developments. However, intense competition among vendors poses a challenge. Key market players include ABB Ltd., ADTECH SHENZHEN TECHNOLOGY CO. LTD., Danfoss AS, Delta Electronics Inc., Emerson Electric Co., FANUC Corp., Fuji Electric Co. Ltd., Kollmorgen Corp., Mitsubishi Electric Corp., Nidec Corp., OMRON Corp., Parker Hannifin Corp., Regal Rexnord Corp., Robert Bosch GmbH, Rockwell Automation Inc., Rozum Robotics, Schneider Electric SE, SEW EURODRIVE GmbH and Co KG, Siemens AG, and Yaskawa Electric Corp..

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Servo Motors And Drives Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.41%

Market growth 2024-2028

USD 4370.1 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.03

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 62%

Key countries

China, US, Japan, Germany, and UK

Key companies profiled

ABB Ltd., ADTECH SHENZHEN TECHNOLOGY CO. LTD., Danfoss AS, Delta Electronics Inc., Emerson Electric Co., FANUC Corp., Fuji Electric Co. Ltd., Kollmorgen Corp., Mitsubishi Electric Corp., Nidec Corp., OMRON Corp., Parker Hannifin Corp., Regal Rexnord Corp., Robert Bosch GmbH, Rockwell Automation Inc., Rozum Robotics, Schneider Electric SE, SEW EURODRIVE GmbH and Co KG, Siemens AG, and Yaskawa Electric Corp.

Market Driver

The servo motors and drives market is experiencing significant growth due to the increasing demand for advanced servo systems in various industries. Vendors are introducing innovative products to cater to this demand. For instance, Kollmorgen launched the TBM2G series of frameless servo motors in April 2022, offering improved functionality and compact design for collaborative robots and other applications. Inovance Technology Europe GmbH introduced the SV670 servo series, along with high-performance controllers and input/output modules, in November 2022. Celera Motion, a subsidiary of Novanta Inc., launched the Everest S servo drive in October 2022, which is the smallest and fastest servo drive in the world. These product developments will boost the growth of the servo motors and drives market during the forecast period, particularly in sectors such as robotics and process industries like oil and gas and chemical and petrochemical.

The Servo Motors and Drives market is experiencing significant growth due to increasing demand in motion control applications across various industries. Linear motors and rotary motors, including AC, DC, brushless, and stepper motors, are popular choices for precision motion control in robotics and automation. Motion control technology advancements, such as closed-loop control and feedback control systems, enhance system performance and reliability. Servo drives, motor controllers, amplifiers, and power supplies are essential components of servo systems, providing speed, torque, and acceleration control. Motion control solutions cater to CNC machine advancements, robotics industry developments, and robotics regulations, ensuring high-performance and improved machine reliability. Servo accessories and mechanisms complete the servo system, offering customized solutions for specific applications. Electric motor technologies continue to evolve, driving innovation in servo motor design and drive performance.

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Market Challenges

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Segment Overview

This servo motors and drives market report extensively covers market segmentation by

1.1 DC servo motors/drives- The DC servo motors and drives market is expected to grow at a slower pace compared to the AC servo motors and drives segment due to the increasing preference for AC servo motors in various industries. DC servo motors, which have a better power-to-weight ratio, have operational drawbacks such as higher noise and vibration levels and lower thermal performance. The main reason for these issues is the commutation mechanism or commutator present in most DC servo motors, which causes excessive wear and vibration. While brushless DC motors are available as an alternative, they are primarily used in consumer durables and power tools, not industrial drives. On the other hand, medium-voltage AC servo motors are commonly used in applications where AC power is supplied, such as in heavy industries and renewable energy sectors. The rise of IoT and machine learning in industrial automation and robotics is expected to boost the demand for DC servo motors and drives, as they offer precise control without being tethered to an AC power source. However, the growth of medium-voltage DC servo motors is anticipated to increase due to the development of high-voltage DC power distribution systems for renewable energy sectors.

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Learn and explore more about Technavio's in-depth research reports

The global Motors and Drives Services market is experiencing robust growth, driven by increasing automation across industries. The Servo and Stepper Motors market is expanding due to their precision and reliability in industrial applications. Concurrently, the Brushless DC Motors market is benefiting from their efficiency and longevity, making them ideal for consumer electronics and automotive applications. Collectively, these segments reflect a dynamic shift towards advanced motor technologies, with innovations propelling market expansion and offering new opportunities for growth in various sectors.

Research Analysis

The Servo Motors and Drives market encompasses advanced electric motor technologies, including Brushless motors and DC motors, used for precise motion control in various industries. Closed-loop control systems and feedback control advancements ensure CNC machine reliability and high-performance, enabling advancements in CNC machine capabilities. Servo motors offer torque control, speed control, and positioning systems for robotics and automation applications. Motor controllers and servo power supplies optimize motor performance, while feedback control systems ensure accurate positioning. Precision motion control is a key focus in robotics industry developments, driven by robotics regulations and the need for high-performance and reliability. Servo systems are integral to motion control technology, powering applications from industrial automation to aerospace and defense. Stepper motors offer alternative solutions for precise positioning in specific applications.

Market Research Overview

Servo motors are a type of electric motor that provide precise control over motion and position. They are commonly used in motion control applications such as CNC machines, robotics, and automation systems. Servo motors operate on the principle of closed-loop control, which involves the use of feedback control systems to monitor and adjust motor performance in real-time. This ensures high-precision motion control and improved machine reliability. Servo motors come in various types, including AC, DC, brushless, and rotary motors. High-performance servo motors are used in demanding applications where precise speed and torque control are essential. Linear motors are another type of servo motor that provides linear motion instead of rotary motion. Motion control technology has advanced significantly in recent years, leading to the development of high-performance servo drives, motor controllers, and servo amplifiers. These components work together to provide precise speed, torque, and position control. Servo accessories such as encoders, brakes, and clutches are also available to enhance servo motor performance. The servo motors and drives market is driven by the growing demand for automation in various industries, including manufacturing, robotics, and transportation. The increasing focus on precision motion control and machine reliability is also fueling the growth of this market. Advancements in electric motor technologies, such as brushless motors and feedback control systems, are expected to further drive the market in the coming years. However, regulatory challenges and the high cost of servo motors and drives may limit market growth to some extent.

Table of Contents:

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

About Technavio

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Contacts

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SOURCE Technavio