Latest News - Servo Motors and Drives Market: DC servo motors/drives are expected to lead the Product segment during 2024-2028

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

The Servo Motors And Drives Market is expected to grow at a CAGR of 5.41% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4370.1 million. In the industrial sector, servo motors and drives play a pivotal role due to their application in various industries, including robotics, oil and gas, chemical and petrochemical, and aerospace and defense. To cater to the evolving needs of these sectors, vendors are introducing advanced servo systems, which consist of controllers, servo motors, and servo drives, featuring enhanced functionality and specialized designs. For instance, Kollmorgen recently launched the TBM2G series of frameless servo motors, designed to optimize the design of collaborative robots, surgical robots, aerospace and defense systems, and other applications, while delivering superior performance in a more compact and lighter package. Additionally, ruggedized servo motors are being offered to meet the demanding operating conditions of process industries. The servo motors and drives market is witnessing significant growth opportunities in robotics, particularly collaborative robots, due to the increasing automation trend in manufacturing processes. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • DC servo motors/drives
  • AC servo motors/drives
• Type
  • Rotary system
  • Linear system
• Geography
  • APAC
    • China
    • Japan
  • Europe
    • Germany
    • UK
  • North America
    • US
  • Middle East and Africa
  • South America

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 integrated servo motors and brushless motors
• Focus on increasing energy efficiency in industries
• Increase in demand for automated equipment on industrial premises

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

• Intense competition among vendors
• Growing market for VFD
• Intense competition from low-cost Asian manufacturers

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Market Scope in Servo Motors And Drives Market Research Report

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Research Analysis Overview

The Servo Motors and Drives market encompasses a range of technologies and applications, including torque control, speed control, and precision motion control systems. Servo systems, which utilize servo motors, servo power supplies, and motor controllers, offer high-performance motion control for robotics and positioning applications. Torque control and speed control are essential features of servo systems, enabling precise positioning and repeatability. Servo motor reliability is crucial in robotics and automation industries, where downtime can be costly. Robotics regulations and industry developments continue to drive advancements in servo systems, including feedback control systems and feedback control advancements. Electric motors, including servo motors, stepper motors, DC motors, and brushless motors, are at the heart of motion control technology. CNC machines, which rely on precise motion control, also benefit from servo motor technology and its advancements. Closed-loop control systems, which provide real-time feedback and adjustment, are essential for high-performance motion control applications. Overall, the Servo Motors and Drives market continues to evolve, driven by the demands of robotics, automation, and manufacturing industries.

Market Research Overview

The Servo Motors and Drives market is a significant segment of the expansive global electrical components and equipment industry. This sector caters to the manufacturing of advanced motor systems used for precise control of machinery and automation processes. The parent market encompasses entities involved in the production of electrical cables and wires, electrical components, and electrical equipment. According to Technavio, the global electrical components and equipment market size is determined by the consolidated revenue generated from various sectors, including water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Furthermore, the market scope extends to companies offering renting and leasing services for electrical components and equipment to diverse industries such as industrial, commercial, and residential. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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