Global Servo Motors and Drives Market Size, Share And Growth Analysis For 2024-2033

Servo Motors and Drives Market Report 2024-2033: Size, Share, and Insights

LONDON, GREATER LONDON, UNITED KINGDOM, September 12, 2024 /EINPresswire.com/ -- The servo motors and drives market has experienced robust growth in recent years, expanding from $15.32 billion in 2023 to $16.54 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to automation and robotics adoption, demand for high-precision control, rise in factory automation, demand for iota and connectivity, growing emphasis on energy efficiency.

Strong Future Growth Anticipated
The servo motors and drives market is projected to continue its strong growth, reaching $21.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to green and sustainable manufacturing, rising popularity of electric vehicles, growth of e-commerce and logistics industries, integration of servo systems.

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Growth Driver Of The Servo Motors and Drives Market
Rising automation is expected to propel the growth of the servo motors and drives market. Servo motors and drives are components of automation systems such as robots, conveyor systems, and others in factories.

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Major Players And Market Trends
Key players in the servo motors and drives market include Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Fuji Electric Co. Ltd., Yaskawa Electric Corporation.
Major companies operating in the servo motors and drive market are increasing their focus on introducing high-performance drive systems, such as the Sinamics S200, to gain a competitive edge in the market. The Sinamics S200 servo drive system is a high-performance, flexible, and scalable system that offers advanced motion control capabilities, precise positioning, and high-speed operation.

Segments:
1) By Offering: Hardware, Software
2) By Type: Motor, Drive
3) By Voltage Range: Low-Voltage, Medium-Voltage
4) By End User: Automotive, Oil and Gas, Healthcare, Packaging, Semiconductor and Electronics, Chemicals and Petrochemicals

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the servo motors and drivers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the servo motors and drives market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Servo Motors and Drives Market Definition
The servo motors and drives include manufacturing of servo motors and drives. Servo motors or linear or rotary actuators that help enable control of linear and angular acceleration, positioning, and velocity, made in brush and brushless types. Servo drives are also called servo amplifiers; these devices can take a low-power command signal from a motion controller and turn it into high-power current/voltage. Servo motors and drives are most commonly utilized in the manufacturing industry for production line robots that help create cars and airplanes that need high repetition yet precise welding, drilling, fastening, sealing, dispensing, and rigid manufacturing.

Servo Motors and Drives Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Servo Motors and Drives Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on servo motors and drives market size, servo motors and drives market drivers and trends, servo motors and drives market major players, servo motors and drives competitors' revenues, servo motors and drives market positioning, and servo motors and drives market growth across geographies. The servo motors and drives market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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