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.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
204 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.3% |
Market growth 2025-2029 |
USD 2446.5 million |
Market structure |
market_structure.ucfirst |
YoY growth 2024-2025(%) |
2.2 |
Key countries |
US, China, Germany, Japan, UK, India, South Korea, Canada, France, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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.
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
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