Integrated Servo Motor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Integrated Servo Motor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Integrated Servo Motor Market

The integrated servo motor market size was valued at USD 5.29 billion in 2023, and the market is now projected to grow from USD 5.58 billion in 2024 to USD 8.75 billion by 2032, exhibiting a CAGR of 5.78% during the forecast period of 2024-2032.

Integrated servo motors play a significant role in automated systems, which can be attributed to their precision and reliable nature. They offer an assurance of dependable and efficient operation, minimize downtime, and enhance productivity due to their ability to offer precise control. The development of new products and innovations in technology is set to flourish market growth. Players are putting their efforts toward R&D to enhance their offerings. For example, in September 2023, JVL A/S, a manufacturer of integrated servo and stepper motors, announced the launch of an innovative high-power integrated servo motor called the MAC motor. This product is equipped with an encoder, control electronics with ePLC™, a built-in motor, and an optional Ethernet or CAN bus integrated into one compact unit.

The global manufacturing and business prospects observed restrictions due to the global health crisis, such as the COVID-19 pandemic. An unexpected increase in the number of people impacted was also witnessed by countries globally with the onset of the crisis. Eventually, the market also observed a negative impact.

Comprehensive Analysis of Integrated Servo Motor Market

The segments of the market include type, voltage, and end-user. With respect to type, the market is bifurcated into AC and DC. The AC segment to dominate on the account of the deployment of these products in industrial applications due to their capability to tackle higher current loads and robustness. By voltage, the market is classified into medium, low, and high. The low segment is slated to lead during the study period as they are ideal for battery-operated applications, including mobile machinery, robotics, AGVs, and other applications. On the basis of end-user, the market is divided into healthcare, semiconductor & electronics, industrial machinery, automotive & transportation (excluding EV), and others. The semiconductor & electronics segment observes the largest integrated servo motor market share, fostered by the criticality of accuracy and speed in electronics manufacturing, which is a consistent process, driving product demand.

From the regional standpoint, Asia Pacific market captures the largest share owing to support given by various governments to businesses in the uptake of industrial automation and advanced manufacturing technologies through investments, incentives, and policies. For example, India embraced the Make in India initiative to become a global manufacturing hub. Europe integrated servo motor market growth can be ascribed to the rising deployment of robotics & automation in aircraft manufacturing.

The key players in the market include Applied Motion Products (U.S.), Omron Automation (Japan), Mitsubishi Electric Corporation (Japan), and others. Players are constantly designing more efficient products and offering added advantages, including condition monitoring and predictive maintenance. For example, in August 2023, Kollmorgen, a provider of motion control systems, bagged ATEX certification and IECEx/cETLus listing for the explosion-proof Goldline EBH 480 Vac servo motor. Capacity expansions, mergers, acquisitions, and collaborations are some of the other competitive strategies opted for by leading companies to gain the largest share while reinforcing their industry position.

In September 2023, Mitsubishi announced the release of the next generation of its MELSERVO-J5 Flagship Servo Product Platform. Moreover, the platform is inclusive of two new servo types which show compatibility with CC-Link IE TSN. These products are suitable for high-precision, high-speed applications to decrease the total cost of ownership for users.

Segmentation Table

Global Integrated Servo Motor Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.78% from 2024 to 2032

Unit Value (USD Billion) and Volume (Thousand Units)

Segmentation By Type, By Voltage, By End-User, and By Region

Segmentation By Type

AC

DC

By Voltage

Low

Medium

High

By End-User

Automotive & Transportation (Excluding EV)

Power Steering Column

Assembly line automation

HVAC Systems

Others

Healthcare

Surgical robots

Imaging equipment

HVAC Systems

Medical patient-handling equipment

Others

Semiconductor & Electronics

Fluid Dispensing Machines

HVAC Systems

Assembly Lines

Others

Industrial Machinery

Conveyor

CNC machine tools

HVAC Systems

Robotic Arms

Metal Forming and Pressing Machinery

Others

Others

Laser scanners

Drone Actuators & Actuation Systems

Packaging and Food Processing Machines

Wind Turbine

Others

By Region

North America (By Type, By Voltage, By End-User)

U.S. (By End-User)

Canada (By End-User)

Europe (By Type, By Voltage, By End-User)

U.K. (By End-User)

Germany (By End-User)

France (By End-User)

Italy (By End-User)

Spain (By End-User)

Russia (By End-User)

Rest of Europe (By End-User)

Asia Pacific (By Type, By Voltage, By End-User)

China (By End-User)

Japan (By End-User)

India (By End-User)

Australia (By End-User)

Southeast Asia (By End-User)

Rest of Asia Pacific (By End-User)

Latin America (By Type, By Voltage, By End-User)

Brazil (By End-User)

Mexico (By End-User)

Rest of Latin America (By End-User)

Middle East & Africa (By Type, By Voltage, By End-User)

GCC (By End-User)

South Africa (By End-User)

Rest of the Middle East & Africa (By End-User)