Servo Motors and Drives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Servo Motors and Drives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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.

Key Questions Answered in This Report:
How has the global servo motors and drives market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global servo motors and drives market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the voltage range?
What is the breakup of the market based on the system?
What is the breakup of the market based on the communication protocol?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global servo motors and drives market and who are the key players?
What is the degree of competition in the industry?