The report "Servo Motors and Drives Market by Type (AC Servo Motors/Drives, DC Servo Motors/Drives, Others), by supply Voltage (Low, Medium), by Components (Sensors, Controller Modules, Encoders, Amplifiers), by Application and by Geography - Global Forecast to 2020", The global servo motors and drives market was valued at USD 8.64 Billion in 2014 and is projected to reach USD 12.56 Billion by 2020, at a CAGR of 6.1% from 2015 to 2020.
Browse 72 tables and 80 figures spread through 156 pages and in-depth TOC on "Servo Motors and Drives Market - Global Forecast to 2020"
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Globalization and industrialization have generated the need for high production capacity and high qualitative output within the limited time. This increases the demand for automation systems such as servo motors and drives, globally. These motors and drives are used in different application sectors, specifically suited for controlling the movement of machines. Servo motors and drives are the most advanced motion control devices, which incorporate precise dimensional tolerance, high-force magnet materials, and advanced design methods. The increasing demand of servo technology in applications such as packaging, automation, textile, motion control, semiconductors, and electronics has triggered the innovation in the manufacturing of servo systems. Servo technology helps in maintaining high accuracy, reducing labor costs and production wastages, and increasing production output.
Servo motor is an efficient, accurate, and flexible motor that helps the system to work efficiently. It increases the entire system performance. It is considered to be one of the highly expensive motors when compared to stepper motors. However, in the recent times there has been a decline in prices of the components (particularly rare earth permanent magnet material) used in the manufacturing of servo motors. This is turn is increasing the growth of this market.
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Most of the manufacturers are focusing towards advanced technology machines to enhance their production process, which in turn drives the need for servo motors and drives. Incorporation of servo technology has changed the flow of work in the current working environment. With the increasing technological advancement, there are various industries that started focusing on increasing the usage of the servo technology to form an integrated control system.
Another major factor driving the servo motors and drives market is the declining prices of servo motors, Servo motor is an efficient, accurate, and flexible motor that helps the system to work efficiently. It increases the entire system performance. It is considered to be one of the highly expensive motors when compared to stepper motors. However, in the recent times there has been a decline in prices of the components (particularly rare earth permanent magnet material) used in the manufacturing of servo motors. This is turn is increasing the growth of this market.
The global servo motors and drives market is expected to witness steady growth in the coming years. There is a growing adoption of servo technology in various sectors, such as industrial, automotive & transportation, semiconductors & electronics, food processing, textile, healthcare, and many more. The automotive & transportation segment accounted for the maximum share in the market and is expected to grow at a CAGR of 6.8% during the forecast period. APAC is the fastest-growing market for automotive & transportation and is expected to grow at a CAGR of 7.2% from 2015 to 2020, followed by Europe and the Americas.
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The research study is aimed at identifying emerging trends and opportunities in the global servo motors and drives market and analyzing the market with explicit focus on high-growth applications and the fastest-growing market segments. The research study also includes analysis of the future of the global servo motors and drives market and market opportunities till 2020.
Apart from the market segmentation, this report also makes use of the Porter’s Five Forces Analysis, which provides an in-depth analysis of the market providing a detailed process flow diagram and market dynamics, such as drivers, restraints, and opportunities in the global servo motors and drives market. The research study strategically profile key players and comprehensively analyze their market share and core competencies along with, detailing the competitive landscape for some of the key market players.
Some of the major players operating in the global servo motors and drives market include Yaskawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Schneider Electric (France), Rockwell Automation Inc. (U.S.), ABB ltd. (U.S.), KINCO Automation Pvt. Ltd (China), Delta Electronics, Inc. (Taiwan), Emerson Electric Co. (U.S.) and Adtech (SHENZHEN) Technology Co. Ltd. (Japan). Most of the companies have adopted various strategies, such as mergers & acquisitions and partnership, among others to sustain in the servo motors and drives market
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