Product Code: 67192
The servo motors and drives market is anticipated to register a CAGR of 6.4% during the forecast period (2020 - 2025).
- The recent technological advancements and implementation of government policies, like Minimum Energy Performance Standards (MEPS), in several countries gave rise to energy efficient motor systems, which inturn boosted the market for servo motor and drives.
- The increasing investments from the global vendors has increased the competitve edge in the market. The investment in the Asia-Paciifc region has been higher owing to the opportunities arising because of relatively higher infrastructure and economic development in the region.
- For instance, in August 2019, WEG invested in a new Drives and Controls factory in Changzhou (district of Jintan). This comes as a part of the process to accelerate the internationalization of Automation business and strengthening WEG's presence in one of the largest global electrical equipment markets.
- The growing applications of IoT and increasing factory automation, the market is witnessing an increasing trend towards intelligent servo drives. A major drawback of intelligent servo drives is that they are costlier than normal servo drives. On the other hand, these drives provide low wiring, and their assembly cost is also less. Due to the growing demand for these drives at a lower price, manufacturers are trying to improve the quality and reduce the price to increase their product portfolio and establish their presence in the global servo motors and drives market.
- The availability of substitute products such as stepper motor and the complex manufacturing process is restraining the growth of the market.
Scope of the Report
Type of motors such as AC servo, DC brushless, brushed DC and linear servo motors, and the type of drives such as AC servo, DC servo and adjustable speed drives are cosnidered under the scope of the market.
Key Market Trends
Automotive to Hold Significant Share
- Automakers in the recent years have automated their plants, like KUKA AG, in order to reduce the number of issues on the work floor, improving efficiency and reducing the operational costs. Many companies have been identified to follow suit, by automating their plant in order to gain better returns and efficiency, driving the market for servo motors and drives market.
- The growing adoption of automation in manufacturing processes and involvement of digitization and AI are primary factors driving the demand for industrial robots among the automotive sector. For instance, in July 2018, the International Automotive Components (IAC) has implemented manufacturing 4.0 and smart factory applications at its UK site in Halewood, England. The new application is expected to deploy smart logistics, cross-company integration, and collaborative robots (cobots).
- In 2017, more than 170,000 robots took part in the production process in Europe automotive industry. The growing presence of robots and automation in Europe automotive industries is expected to fuel the market for industrial robots further in the region.
- For instance, in April 2018, PSA Group, Europe's second-largest car manufacturer, began the process of modernizing its European manufacturing sites with Universal Robots' UR10 collaborative robots.
- Therefore, such increased adoption in the of automation and robotics is anticipated to drive the market for servo motor and drives in the automotive sector over the forecast period.
North America to Hold Significant Share
- The manufacturing industry in the region has witnessed various technological advancements over the past decade. Various initiatives have suppoted this shift. Supporting government policies and competitively priced natural gases have further enabled the chemical companies of Canada and the United States to build plants, expand, and automate their facilities. Hence, the automation growth in North American industry is expected to further drive the growth of the studied market in the region.
- Several inudstries across various sectors have incraesed their focus towards robotics. According to Robotic Industries Association the North American companies ordered a total of 7,876 robots worth USD 423 million from January through March 2019. The association noted that orders from original equipment manufacturers (OEMs) in the automotive sector were up by 41%, and food and consumer goods makers increased their orders by 32%.
- The region is also witnessing a increased use of robotics in warehouses. The strong economy, with notable port traffic, increased e-commerce activity, and key manufacturing indices resulting in manufacturing growth, are poised to drive the demand for warehouses in the region. For insatnce, DHL Supply Chain has deployed Collaborative Robots or Cobots in its warehouses, which can perform repetitive tasks requiring movements that could injure a human worker.
- The region is also witnessing investments from the automakers. Companies such as FCA, Ford, GM, Hyundai, Nissan, Toyota, and Volkswagen announced substantial investments in 2018. Toyota announced an investment of over USD 1 billion to upgrade their assembly plants for the next generation RAV4 crossover.
- These factors are anticipated to support the growth of the market over the forecast period.
The market for servo motors and drives is estimated to be highly competitive over the forecast period, as the players in the market are increasingly workin on new product development with a sharp focus on overcoming the shortcomings of the procecutor. The players are also focusing in partnerships, and mergers and acquistions in order to expand their consumer base.
- March 2019 - Seimens launched new Sinamics S210 Servo Drive System Simplifying Motion Control. It is designed for use with the newly developed Simotics S-1FK2 motors.
- March 2019 - Mitsubishi announced to launch a new series of servo systems. these systems would support the CC-Link IE TSN2 next-generation industrial open network.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Introduction to Market Drivers and Restraints
- 4.3 Market Drivers
- 4.3.1 Rapid Industrialisation Across the Emerging Economies
- 4.3.2 Growing Regulations Regarding Energy Efficiency
- 4.4 Market Restraints
- 4.4.1 Presence of Substitute Products
- 4.5 Industry Value Chain Analysis
- 4.6 Industry Attractiveness - Porter's Five Force Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Type
- 5.1.1 Motor
- 126.96.36.199 AC Servo Motor
- 188.8.131.52 DC Brush Less Servo Motor
- 184.108.40.206 Brushed DC Servo Motor
- 220.127.116.11 Linear Servo Motor
- 5.1.2 Drive
- 18.104.22.168 AC Servo Drive
- 22.214.171.124 DC Servo Drive
- 126.96.36.199 Adjustable Servo Drive
- 188.8.131.52 Other Types of Drives
- 5.2 By Voltage Range
- 5.2.1 Low-voltage
- 5.2.2 Medium-voltage
- 5.3 By End-user Industry
- 5.3.1 Automotive
- 5.3.2 Oil and Gas
- 5.3.3 Healthcare
- 5.3.4 Packaging
- 5.3.5 Semiconductor and Electronics
- 5.3.6 Chemicals and Petrochemicals
- 5.3.7 Other End-user Indusrties
- 5.4 Geography
- 5.4.1 North America
- 184.108.40.206 US
- 220.127.116.11 Canada
- 5.4.2 Europe
- 18.104.22.168 Germany
- 22.214.171.124 UK
- 126.96.36.199 France
- 188.8.131.52 Rest of Europe
- 5.4.3 Asia Pacific
- 184.108.40.206 China
- 220.127.116.11 Japan
- 18.104.22.168 India
- 22.214.171.124 South Korea
- 126.96.36.199 Rest of Asia-Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Yaskawa Electric Corp.
- 6.1.2 Mitsubishi Electric Corp.
- 6.1.3 Siemens AG
- 6.1.4 Schneider Electric
- 6.1.5 Rockwell Automation, Inc.
- 6.1.6 ABB Ltd.
- 6.1.7 Delta Electronics, Inc.
- 6.1.8 FANUC Corp.
- 6.1.9 Kollmorgen Corp.
- 6.1.10 Bosch Rexroth AG
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS