What has been the Historical and Predicted Growth of the Servo Motors and Drives Market?
The servo motors and drives market has witnessed significant growth in the past few years. The market size which stood at $16.26 billion in 2024 is projected to escalate to $17.42 billion in 2025, growing at a compound annual growth rate (CAGR) of 7.1%. In the historical period, the uptake in automation and robotics, burgeoning demand for high-precision control, factory automation, Internet of Things (IoT) and connectivity, coupled with the rising emphasis on energy efficiency largely accounted for the market growth.
The servo motors and drives market is also predicted to observe considerable progress in the coming years, reaching a size of $22.53 billion by 2029 at a CAGR of 6.6%. This forecasted growth can be attributed to the rising popularity of green and sustainable manufacturing, increasing demand for electric vehicles, growth of e-commerce and logistics industries, and the integration of servo systems. Noteworthy trends paving the future of the market include industry 4.0 integration, renewable energy, edge computing integration, advanced motion control algorithms, and the development of advanced motion.
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What are the Key Factors Driving the Growth of the Servo Motors and Drives Market?
A surge in automation can be identified as a significant growth driver for the servo motors and drives market. Servo motors and drives are crucial components of automation systems including robots, conveyor systems, among others, commonly used in factories. Sales in the automotive segment increased by 1% in 2023, establishing a record with 14,678 robots installed, following a remarkable 47% growth in 2022 that brought installations to 14,472 units, according to a report by the International Federation of Robotics in April 2024. This affirmatively showcases the impact of rising automation in propelling the servo motors and drives market.
How is the Servo Motors and Drives Market Segmented?
The servo motors and drives market report covers the following 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
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Who are the Major Players in the Servo Motors and Drives Market?
Prominent companies operating 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, Emerson Electric Co., Rockwell Automation Inc., Estun Automation Co. Ltd., Kinco Automation (Shanghai) Ltd., Danfoss A/S, ESR Pollmeier GmbH, Heason Technology Ltd., Elmo Motion Control Ltd., KEB Automation KG, Omron Corporation, FANUC Corporation, Hitachi Ltd., Oriental Motor USA Corp., Delta Electronics Inc., Panasonic Corporation, Kollmorgen Corporation, Parker Hannifin Corporation, Moog Inc., Nidec Motors & Actuators, Wittenstein Inc., Celera Motion, Harmonic Drive LLC, LinMot USA Inc., Drive System Design Inc., AutomationDirect, Bearing Distributors Inc., Sinotech, Teknic Inc., Applied Motion Products Inc., Anaheim Automation Inc., Advanced Motion Controls.
What Trends are Shaping the Servo Motors and Drives Market?
Technological advancements are a notable trend in the servo motors and drives market. These advancements not only help improve the product design but also simplify motion control. One such instance being Trio Motion Technology’s launch of their DX4 servo drive and MX servo motor series in February 2022. These advanced offerings promise high-performance motion control and are expected to revolutionize application development and commissioning across industries including packaging, medical, and robotics.
Which Region Is the Largest and Fastest in the Servo Motors and Drives Market?
Asia-Pacific was the largest region in the servo motors and drives market in 2024 and is also anticipated to be the fastest-growing region in the forecast period. The regions evaluated in the servo motors and drives market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Servo Motors and Drives Market Report 2025 Offer?
The Servo Motors and Drives Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. The report also covers the manufacturing of servo motors and drives including linear and angular actuators that enable control of positioning, velocity, and acceleration.
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