Servo motors and drives are essential components of motion control systems widely used in various industries and applications. They are used to achieve precise and controlled motion in machines and devices. The key factors driving the market growth are rising automation and adoption of Industry 4.0, growing expansion in the manufacturing sector, increasing adoption of electric vehicles, and growing robotics and industrial automation that anticipated to support the market growth during the forecast period 2023-2030.
Moreover, the increasing adoption of electric vehicles (EVs) is indeed supporting the growth of the servo motors and drives market. Electric vehicles rely on electric motors for propulsion instead of internal combustion engines. These electric motors often utilize servo motors for their precise control and high torque capabilities. As the demand for electric vehicles grows, so does the demand for servo motors to power their propulsion systems. According to Statista, the number of electric vehicles sold in 2020 was 3.18 million units and the number increased and reached 10.24 million in 2022. As a result, the rising EV demand is anticipated to create a lucrative demand for the market. Additionally, growing industrialization and rising technological advancement is anticipated to create a lucrative opportunity for the market during the forecast period. However, the presence of substitute products stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Servo Motors and Drives Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing industrial automation, advancements in technology, rising automation in healthcare and logistics, and the growing automotive industry. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the growing manufacturing sector, rising adoption of robotics and CNC machines, growing automotive industry, and favorable government policies.
Major market player included in this report are:
- Yaskawa Electric Corporation (Japan)
- Mitsubishi Electric Corporation (Japan)
- Siemens (Germany)
- Schneider Electric (France)
- Rockwell Automation (US)
- ABB Ltd (Switzerland)
- NIDEC Corporation (Japan)
- Delta Electronics Inc. (Taiwan)
- FANUC Corporation (Japan)
- Fuji Electric Co., Ltd. (Japan)
Recent Developments in the Market:
- In October 2021, Rockwell Automation introduced an NSF-certified HMI terminal for monitoring production and new hygienic servo motors named Kinetix VPH sanitary servo motors to minimise contamination hazards in the food and pharmaceutical sectors.
Global Servo Motors and Drives Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Voltage Range, End-user Industry, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Type:
By Voltage Range:
- Low Voltage
- Medium Voltage
- High Voltage
By End-user Industry:
- Automotive
- Oil and Gas
- Healthcare
- Packaging
- Semiconductor and Electronics
- Chemicals and Petrochemicals
- Other End-user Industries
By Region:
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Servo Motors and Drives Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Servo Motors and Drives Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Servo Motors and Drives Market, by Voltage Range, 2020-2030 (USD Billion)
- 1.2.4. Servo Motors and Drives Market, by End-user Industry, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Servo Motors and Drives Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Servo Motors and Drives Market Dynamics
- 3.1. Servo Motors and Drives Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising automation and adoption of industry 4.0
- 3.1.1.2. Growing expansion in manufacturing sector
- 3.1.1.3. Increasing adoption of electric vehicles
- 3.1.2. Market Challenges
- 3.1.2.1. Presence of substitute products
- 3.1.3. Market Opportunities
- 3.1.3.1. Growing industrialization
- 3.1.3.2. Growing technological advancement
Chapter 4. Global Servo Motors and Drives Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Servo Motors and Drives Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Servo Motors and Drives Market by Type, Performance - Potential Analysis
- 5.3. Global Servo Motors and Drives Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Servo Motors and Drives Market, Sub Segment Analysis
- 5.4.1. Motor
- 5.4.2. Drive
Chapter 6. Global Servo Motors and Drives Market, by Voltage Range
- 6.1. Market Snapshot
- 6.2. Global Servo Motors and Drives Market by Voltage Range, Performance - Potential Analysis
- 6.3. Global Servo Motors and Drives Market Estimates & Forecasts by Voltage Range 2020-2030 (USD Billion)
- 6.4. Servo Motors and Drives Market, Sub Segment Analysis
- 6.4.1. Low Voltage
- 6.4.2. Medium Voltage
- 6.4.3. High Voltage
Chapter 7. Global Servo Motors and Drives Market, by End-user Industry
- 7.1. Market Snapshot
- 7.2. Global Servo Motors and Drives Market by End-user Industry, Performance - Potential Analysis
- 7.3. Global Servo Motors and Drives Market Estimates & Forecasts by End-user Industry 2020-2030 (USD Billion)
- 7.4. Servo Motors and Drives Market, Sub Segment Analysis
- 7.4.1. Automotive
- 7.4.2. Oil and Gas
- 7.4.3. Healthcare
- 7.4.4. Packaging
- 7.4.5. Semiconductor and Electronics
- 7.4.6. Chemicals and Petrochemicals
- 7.4.7. Other End-user Industries
Chapter 8. Global Servo Motors and Drives Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Servo Motors and Drives Market, Regional Market Snapshot
- 8.4. North America Servo Motors and Drives Market
- 8.4.1. U.S. Servo Motors and Drives Market
- 8.4.1.1. Servo Motors and Drives breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Voltage Range breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. End-user Industry breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Servo Motors and Drives Market
- 8.5. Europe Servo Motors and Drives Market Snapshot
- 8.5.1. U.K. Servo Motors and Drives Market
- 8.5.2. Germany Servo Motors and Drives Market
- 8.5.3. France Servo Motors and Drives Market
- 8.5.4. Spain Servo Motors and Drives Market
- 8.5.5. Italy Servo Motors and Drives Market
- 8.5.6. Rest of Europe Servo Motors and Drives Market
- 8.6. Asia-Pacific Servo Motors and Drives Market Snapshot
- 8.6.1. China Servo Motors and Drives Market
- 8.6.2. India Servo Motors and Drives Market
- 8.6.3. Japan Servo Motors and Drives Market
- 8.6.4. Australia Servo Motors and Drives Market
- 8.6.5. South Korea Servo Motors and Drives Market
- 8.6.6. Rest of Asia Pacific Servo Motors and Drives Market
- 8.7. Latin America Servo Motors and Drives Market Snapshot
- 8.7.1. Brazil Servo Motors and Drives Market
- 8.7.2. Mexico Servo Motors and Drives Market
- 8.8. Middle East & Africa Servo Motors and Drives Market
- 8.8.1. Saudi Arabia Servo Motors and Drives Market
- 8.8.2. South Africa Servo Motors and Drives Market
- 8.8.3. Rest of Middle East & Africa Servo Motors and Drives Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Yaskawa Electric Corporation (Japan)
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Mitsubishi Electric Corporation (Japan)
- 9.3.3. Siemens (Germany)
- 9.3.4. Schneider Electric (France)
- 9.3.5. Rockwell Automation (US)
- 9.3.6. ABB Ltd (Switzerland)
- 9.3.7. NIDEC Corporation (Japan)
- 9.3.8. Delta Electronics Inc. (Taiwan)
- 9.3.9. FANUC Corporation (Japan)
- 9.3.10. Fuji Electric Co., Ltd. (Japan)
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption