Servo Motors and Drives Market By Offering, By Type, By Material of Construction, By Communication Protocol, By Industry and By Region – Global Opportunities and Forecast, 2020-2027
Servo Motors and Drives Market By Offering (Motor Components and Software & Services), By Type (Servo Motors and Servo Drives), By Material of Construction (MoC), By Communication Protocol, By Industry, and By Region
The Servo Motors and Drives Market size was valued at USD 13386 million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 3.7% during the forecast period.
A servo motor is an electrical device that allows the precise control of angular or linear position, velocity, and acceleration. It can be controlled with the help of servomechanism. It also needs a relatively sophisticated controller, often a dedicated module designed particularly to operate with servomotors. Servo motors are used in various applications such as robotics, CNC machinery, automated manufacturing, factory automation. A servo drive is an electronic amplifier that is responsible for powering the servo motor. The servo drive is an crucial component that helps in determining the performance of the servo system.
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The major factors that are driving the growth of the global servo motors and drives market are the growing advancement and adoption of automation across industries, ease of use, and integration of motion control components in motors and drives, increasing adoption of energy-efficient international standard, along with the favorable regulations on energy efficiency. The technological innovation and implementation of government policies such as Minimum Energy Performance Standards (MEPS), in various countries, increased demand for energy-efficient motor systems, is further propelling the growth of the global servo motors and drives market.
The growing number of industries, shifting focus towards maintaining a high precision level, minimizing labor cost and production wastage, coupled with enhancing production output, will increase the deployment of the servo motors and drives across industries which will further boost the growth of the market. Moreover, industrial revolution 4.0, enhanced encoder and capabilities for adjustable speed drives are creating opportunities for the global servo motors and drives market. Moreover, uncertainty and risk associated with servo motors and drives, along with a lack of skilled professionals, are restraining the growth of the market.
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Based on the type, the servo motor segment is projected to dominate the global servo motors and drives market over the forecast period. The servo motor includes AC Servo Motors, DC Brushless Motors, Brushed DC Motors, and Linear Servo Motors. Ac servo motor is projected to grow at a higher CAGR in the market, owing to its dynamic functionality and high capabilities. Due to these features, AC servo motor is widely used in various industries such as automotive, packaging, food, and processing, among others. The other advantages of AC servo motors are its ability to provide more torque per weight, efficiency, reliability, and reduced radio frequency noise.
Based on the industry, the packaging segment is expected to grow at a faster CAGR in the market during the forecast period. Increasing demand and use of automated, accurate, and faster machine, is surging the adoption of the servo motors and drives in the packing industry. The various operations in the packaging industry uses automation. The packaging industry uses servo motors and drives for various applications such as hybrid injection molding machines, electric injection molding machines, among others.
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Based on the region, the Asia-pacific region is projected to grow at a faster CAGR over the forecast period owing to the growing industrial activities, coupled with the increasing demand for quicker and accurate motors & drives to enhance productivity. The rising demand for the reduction of the energy production process cost, along with the increasing requirement for a software system, is boosting the growth of the market. Moreover, the growing machine tool production and other sectors such as semiconductor and electronics which are related to automobile or smartphones such as electronics assembly, semiconductor machinery, and customized robots for different applications are some other factors that are fuelling the growth of the market in this Asia-pacific region.
Various notable players in the servo motors and drives market include Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Siemens AG, ABB Group, Schneider Electric SE, Rockwell Automation Inc., KINCO Automation Pvt. Ltd, Delta Electronics, Inc., Emerson Electric Co., FANUC Corporation, Bosch Rexroth AG, Adtech (SHENZHEN) Technology Co. Ltd, and Kollmorgen Corporation, and among others.
Key Developments:
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- In Mar 2019, Mitsubishi Electric Corporation launched a new series of servo systems, the General-Purpose AC Servo MELSERVO J5 series (65 models) and the iQ-R Series Motion Control Unit (7 models). These are world-first servo system products on the market that support the CC-Link IE TSN2 next-generation industrial open network. These new products will contribute to enhanced machine performance and accelerate the advancement of smart factory solutions and expand the product portfolio of the company.
- In May 2017, Yaskawa Electric Corporation launched a new servo motor with a built-in amplifier that is equipped with GaN power semiconductors that offer smaller and more efficient servo drive systems for customer devices and control panels.
The Global Servo Motors and Drives market has been segmented based on the offering, type, voltage range, material of Construction (MoC), communication protocol, industry, and region. Based on the offering, the market is segmented, and Software & Services. Based on type, the market is segmented into servo motor and servo drive. Based on servo motors, the market is further segmented into AC Servo Motors, DC Brushless Motors. Based on Servo Drives, the market is further segmented into AC Servo Drives, DC Servo Drives, Adjustable Speed Drives. Based on voltage range, the market is segmented into Low-Voltage Servo Motors and Drives (Up to 690v), and Medium-Voltage Servo Motors and Drives (Above 690v). Based on Material of Construction (MoC), the market is segmented into Stainless Steel Servo Motors and Drives, and Non-Stainless-Steel Servo Motors and Drives. Based on communication protocol, the market is segmented into Fieldbus, Industrial Ethernet, and Wireless. Based on Fieldbus, the market is further segmented into Profibus, Modbus¸ CC-Link, Devicenet, Canopen, Interbus, and Others. Based on industrial ethernet, the market is further segmented into Profinet, Ethernet/IP, Ethercat, Modbus TCP/IP, Powerlink, Sercos III, and CC-Link IE. Based on wireless, the market is further segmented into WLAN, Bluetooth, WiMAX, Wireless Hart, Zigbee, and Others. Based on Industry, the market is segmented Utility, Steel, Mining, Oil & Gas, and Transportation.
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Key questions answered in this research report:
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- At what pace is the global Servo Motors and Drives market growing? What will be a growing trend in the future?
- What are the key drivers and restraints in the global Servo Motors and Drives market? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Servo Motors and Drives market?
- What are the various industries of the global Servo Motors and Drives market, and how are they poised to grow?
- Which Offering generated maximum revenues in 2019 and identify the most promising Offering during the forecast period?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Base Year |
2019 |
Market Forecast Period |
2020-2027 |
Market Revenues Currency |
USD Million |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Offering, By Type, By Voltage Range, By Material of Construction (MoC), By Communication Protocol, By Industry, By Region |
Regional Coverage | Asia Pacific, Europe, North America, and RoW |
Companies Profiled | Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Siemens AG, ABB Group, Schneider Electric SE, Rockwell Automation Inc., KINCO Automation Pvt. Ltd., Delta Electronics, Inc., Emerson Electric Co., FANUC Corporation, Bosch Rexroth AG, Adtech (SHENZHEN) Technology Co. Ltd., Kollmorgen Corporation among others; A total of 13 Companies Covered. |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Servo Motors and Drives Market by Offering
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- Hardware
- Sensors
- Controller Modules
- Encoders
- Electronic Amplifiers
- Other Components
- Software & Services
- Hardware
Global Servo Motors and Drives Market by Type
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- Servo Motors
- AC Servo Motors
- DC Servo Motors
- Servo Drives
- AC Servo Drives
- DC Servo Drives
- Adjustable Speed Drives
- Servo Motors
Global Servo Motors and Drives Market by Voltage Range
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- Low-Voltage Servo Motors and Drives (Up to 690v)
- Medium-Voltage Servo Motors and Drives (Above 690v)
Global Servo Motors and Drives Market by Material of Construction (MoC)
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- Stainless Steel Servo Motors and Drives
- Non-Stainless-Steel Servo Motors and Drives
Global Servo Motors and Drives Market by Communication Protocol
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- Fieldbus
- Profibus
- Modbus
- CC-Link
- Devicenet
- Canopen
- Interbus
- Others
- Industrial Ethernet
- Profinet
- Ethernet/IP
- EtherCAT
- Powerlink
- Sercos III
- CC-Link IE
- Wireless
- WLAN
- Bluetooth
- WiMAX
- Wireless Hart
- Zigbee
- Others
- Fieldbus
Global Servo Motors and Drives Market by Industry
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- Automotive & Transportation Industry
- Semiconductors & Electronics Industry
- Food Processing Industry
- Textile Industry
- Petrochemicals Industry
- Pharmaceutical & Healthcare Industry
- Packaging Industry
- Printing & Paper Industry
- Other Industries
Global Servo Motors and Drives Market by Region
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- North America Servo Motors and Drives Market (Option 1: As a part of the free 25% customization)
- North America Servo Motors and Drives Market by Offering
- North America Servo Motors and Drives Market by Type
- North America Servo Motors and Drives Market by Voltage Range
- North America Servo Motors and Drives Market by Material of Construction (MoC)
- North America Servo Motors and Drives Market by Communication Protocol
- North America Servo Motors and Drives Market by Industry
- US Servo Motors and Drives Market All-Up
- Canada Servo Motors and Drives Market All-Up
- Europe Servo Motors and Drives Market (Option 2: As a part of the free 25% customization)
- Europe Servo Motors and Drives Market by Offering
- Europe Servo Motors and Drives Market by Type
- Europe Servo Motors and Drives Market by Voltage Range
- Europe Servo Motors and Drives Market by Material of Construction (MoC)
- Europe Servo Motors and Drives Market by Communication Protocol
- Europe Servo Motors and Drives Market by Industry
- UK Servo Motors and Drives Market All-Up
- Germany Servo Motors and Drives Market All-Up
- France Servo Motors and Drives Market All-Up
- Spain Servo Motors and Drives Market All-Up
- Rest of Europe Servo Motors and Drives Market All-Up
- Asia-Pacific Servo Motors and Drives Market (Option 3: As a part of the free 25% customization)
- Asia-Pacific Servo Motors and Drives Market by Offering
- Asia-Pacific Servo Motors and Drives Market by Type
- Asia-Pacific Servo Motors and Drives Market by Voltage Range
- Asia-Pacific Servo Motors and Drives Market by Material of Construction (MoC)
- Asia-Pacific Servo Motors and Drives Market by Communication Protocol
- Asia-Pacific Servo Motors and Drives Market by Industry
- China Servo Motors and Drives Market All-Up
- India Servo Motors and Drives Market All-Up
- Japan Servo Motors and Drives Market All-Up
- Rest of APAC Servo Motors and Drives Market All-Up
- RoW Servo Motors and Drives Market (Option 4: As a part of the free 25% customization)
- RoW Servo Motors and Drives Market by Offering
- RoW Servo Motors and Drives Market by Type
- RoW Servo Motors and Drives Market by Voltage Range
- RoW Servo Motors and Drives Market by Material of Construction (MoC)
- RoW Servo Motors and Drives Market by Communication Protocol
- RoW Servo Motors and Drives Market by Industry
- Brazil Servo Motors and Drives Market All-Up
- South Africa Servo Motors and Drives Market All-Up
- Saudi Arabia Servo Motors and Drives Market All-Up
- UAE Servo Motors and Drives Market All-Up
- Rest of world (remaining countries of the LAMEA region) Servo Motors and Drives Market All-Up
- North America Servo Motors and Drives Market (Option 1: As a part of the free 25% customization)
Major Players Operating the Servo Motors and Drives (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Yaskawa Electric Corporation
- Mitsubishi Electric Corporation
- Siemens AG
- ABB Group
- Schneider Electric SE
- Rockwell Automation Inc.
- KINCO Automation Pvt. Ltd.
- Delta Electronics, Inc.
- Emerson Electric Co.
- FANUC Corporation
- Bosch Rexroth AG
- Adtech (SHENZHEN) Technology Co. Ltd.
- Kollmorgen Corporation
Frequently Asked Question About This Report
Servo Motors and Drives Market [UP740A-00-0620]
The servo motor segment is expected to grow at higher CAGR over the forecast period. The servo motor includes AC Servo Motors, DC Brushless Motors, Brushed DC Motors, and Linear Servo Motors.
The various key players in the servo motors and drives market include Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Siemens AG, ABB Group, Schneider Electric SE, Rockwell Automation Inc., KINCO Automation Pvt. Ltd, Delta Electronics, Inc., Emerson Electric Co., FANUC Corporation, Bosch Rexroth AG, Adtech (SHENZHEN) Technology Co. Ltd, and Kollmorgen Corporation, and among others.
The several industrial ethernet are Profinet, Ethernet/IP, Ethercat, Modbus TCP/IP, Powerlink, Sercos III, and CC-Link IE.
The growth rate of Servo Motors and Drives Market during 2020-2027 is 3.7%.
- Published Date: Nov-2020
- Report Format: Excel/PPT
- Report Code: UP740A-00-0620
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Servo Motors and Drives Market By Offering, By Type, By Material of Construction, By Communication Protocol, By Industry and By Region – Global Opportunities and Forecast, 2020-2027
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