What Is The Current and Historic Market Size Analysis Of The Servo Motors and Drives Market?
The servo motors and drives market has seen considerable growth due to a variety of factors.
• In recent years, the market size for servo motors and drives has experienced robust growth. The market, which was valued at $16.26 billion in 2024, is projected to increase to $17.42 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.1%.
The substantial growth observed in the historical period can be linked to the adoption of automation and robotics, the need for high-precision control, an increase in factory automation, demand for Internet of Things (IoT) and connectivity, and a growing focus on energy efficiency.
What Are The Predictions for The Servo Motors and Drives Market Size In The Coming Years?
The servo motors and drives market is expected to maintain its strong growth trajectory in upcoming years.
• The market for servo motors and drives is expected to experience robust expansion in the coming years, with a projected growth to $22.53 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.6%.
Factors contributing to this growth trajectory during the forecast period include green and sustainable manufacturing, increased usage of electric vehicles, expansion within e-commerce and logistics sectors, and the incorporation of servo systems. Notable trends expected during the forecast period encompass the integration of Industry 4.0, renewable energy, edge computing, advanced motion control algorithms, and the evolution of advanced motion.
Which Key Drivers Are Propelling The Servo Motors and Drives Market's Growth?
The advancement of automation is predicted to stimulate the expansion of the servo motors and drives market. These motors and drives are integral parts of automated apparatus such as industrial robots and conveyor systems. For example, figures from the International Federation of Robotics in April 2024 indicated that a company based in Germany, specializing in the production of automation machinery, noted a 1% rise in automotive segment sales in 2023, marking a new high with 14,678 robots installed. This came after a 47% upswing in 2022, leading to 14,472 unit installations. Hence, the progression of automation is fuelling the growth of the servo motors and drives market.
What Are The Key Segments Within The Global Servo Motors and Drives Market?
The servo motors and drives market covered in this report is segmented –
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
Subsegments:
1) By Hardware: Servo Motors, Servo Drives, Feedback Devices, Accessories
2) By Software: Motion Control Software, Simulation Software, Configuration and Tuning Software, Monitoring and Diagnostic Software
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How Are New Trends Impacting The Size Of The Servo Motors and Drives Market?
Advancements in technology are a major trend in the market for servo motors and drives. Such enhancements aid in improving product design and making motion control more manageable. For example, Trio Motion Technology, a company based in India that specializes in high-performance motion control technology, unveiled its DX4 servo drive and MX servo motor series in February 2022. The aim was to offer superior motion control. The DX4 servo drive is compatible with controllers and I/O systems in a plug-and-play manner and is programmable within a single software known as Motion Perfect. This boosts the speed of development and commissioning for Original Equipment Manufacturers (OEMs) in sectors like packaging, medical, and robotics. Furthermore, the DX4 servo drive can operate at 200V AC, with power ranging from 50W to 3kW. By utilizing EtherCAT communications, the Motion Coordinator series can control up to 128 axes with high precision.
Who Are the Key Players in the Servo Motors and Drives Market?
Major 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 are the Regional Insights into the Servo Motors and Drives Market?
Asia-Pacific was the largest region in the servo motors and drivers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the servo motors and drives market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
