Latest News- Motors And Drives Services Market: Motors is expected to lead the Product segment during 2025-2029

The Motors And Drives Services Market is being driven by Increasing demand for servo motors and brushless motors

The Motors And Drives Services Market is expected to grow at a CAGR of 2.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2446.5 million. In the Motors and Drives Services Market, conventional AC drives employ active front-end (AFE) rectifiers and multi-purpose transformers to address harmonic issues. However, these additional components increase wiring and space requirements, as well as costs. To mitigate these challenges, companies are turning to matrix design in AC drives. Matrix design features nine bi-directional IGBTs arranged in a matrix configuration to produce AC output directly from AC input, eliminating the need for a DC bus and the associated harmonics. This innovative approach offers significant benefits in terms of reduced complexity, cost savings, and improved system efficiency. 

Get more information on Motors And Drives Services Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Motors
  • Drives
• End-user
  • Process industry
  • Discrete industry
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for servo motors and brushless motors
• Focus on increasing energy efficiency in industries
• Increased outsourcing of service and maintenance operations

However, the market also witnesses some limitations, which are as follows:

• Intense competition among companies
• High maintenance costs
• Conflict of interests between service providers and end-users

Benefits of Buying Global Motors And Drives Services Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Motors And Drives Services Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Motors and Drives Services Market encompasses various offerings such as Feedback control, Skilled workforce, and Maintenance services for Rotary systems segment in industrial automation. DC motors, including shunt and separately excited, and Motor-driven systems are key areas of focus. Drives services include Servo motors, Brushless motors, and Energy efficiency solutions. Preventive maintenance, Performance upgrades, and Digitalization tools like IoT integration ensure reliable performance and operational uptime. Skilled labor force addresses labor shortages in emerging countries, while adoption of robotics and automated systems enhances equipment durability and power efficiency. Motor upgrades and Drive systems cater to automation demand and optimization of performance. Service innovation and condition monitoring are essential for precise control and optimal operational uptime.

Market Research Overview

In the realm of business and industry, the Motors and Drives Services Market is a significant segment of the larger Industrial Machinery and Supplies and Components Market. This market encompasses organizations specializing in the manufacturing of industrial machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio's market analysis, the global Industrial Machinery and Supplies and Components Market is projected to grow due to increasing industrial output in process and discrete industries, leading to capacity expansions in sectors such as energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing countries. Performance upgrades and energy efficiency initiatives are key trends driving market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/