Servo Motors and Drives Global Market Report 2024

The production of servo motors and drives involves the manufacturing of these components. Servo motors, whether linear or rotary actuators, play a crucial role in controlling linear and angular acceleration, velocity, and positioning. They come in both brush and brushless types. Simultaneously, servo drives, also known as servo amplifiers, possess the capability to convert a low-power command signal from a motion controller into high-power current or voltage. These servo motors and drives find widespread application in the manufacturing industry, particularly in the production of line robots utilized in creating cars and airplanes. These robots are essential for carrying out high-repetition yet precise tasks such as welding, drilling, fastening, sealing, dispensing, and rigid manufacturing.

The primary categories of servo motors and drives are motors and drives. Motors, serving as rotary or linear actuators, facilitate control over both linear and angular acceleration, velocity, and positioning. They are available in both brush and brushless variants, with the latter being the preferred choice in today's context. Servo motors exhibit different voltage ranges, including low-voltage and medium-voltage. Various end-users, spanning industries like automotive, oil and gas, healthcare, packaging, semiconductor and electronics, as well as chemicals and petrochemicals, rely on these components. The market offers two main types of offerings: hardware and software.

The servo motors and drives market research report is one of a series of new reports that provides servo motors and drives market statistics, including servo motors and drives industry global market size, regional shares, competitors with a servo motors and drives market share, detailed servo motors and drives market segments, market trends and opportunities, and any further data you may need to thrive in the servo motors and drives industry. This servo motors and drives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The servo motors and drives market size has grown strongly in recent years. It will grow from $15.32 billion in 2023 to $16.54 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed in the historical period can be ascribed to the widespread adoption of automation and robotics, a surge in the demand for high-precision control, the increasing prevalence of factory automation, a growing need for IoT (Internet of Things) and connectivity, and a heightened focus on energy efficiency.

The servo motors and drives market size is expected to see strong growth in the next few years. It will grow to $21.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period can be linked to the promotion of green and sustainable manufacturing practices, the increasing popularity of electric vehicles, the expansion of the e-commerce and logistics industries, and the integration of servo systems. Significant trends in the forecast period encompass the integration of Industry 4.0 principles, the adoption of renewable energy sources, the incorporation of edge computing, the implementation of advanced motion control algorithms, and the development of advanced motion technologies.

The growth of the servo motors and drives market is anticipated to be propelled by the increasing trend of automation. These components are integral to automation systems found in various applications, such as robots and conveyor systems in factories. A survey conducted by ABB Robotics in 2021 among 250 UK manufacturing companies revealed a shift in attitudes towards automation, with 81.2% considering investments in robots due to the pandemic. Robots are viewed as a potential solution, with 48.8% expressing likelihood in investing in automation over the next five years, and 50.4% stating that robots would aid in complying with social distancing requirements. Consequently, the surge in automation is a driving force behind the servo motors and drives market.

The anticipated growth of the servo motors and drives market is further attributed to the expansion of the manufacturing sector. This sector involves the production of physical goods through various processes, from raw materials to finished products. Servo motors and drives play a pivotal role in enhancing machinery control, leading to increased automation, productivity, and improved production quality in the manufacturing sector. In July 2023, Eurostat reported a 0.2% increase in industrial output in the European area and a 0.1% increase in the European Union between May and April 2023. Therefore, the expansion of the manufacturing sector is a significant driver of the servo motor and drive market.

A key trend in the servo motors and drives market is technological advancement. Advancements in technology contribute to product design improvements and streamline motion control processes. For example, in February 2021, Trio Motion Technology, an India-based motion control technology company, introduced the DX4 servo drive and MX servo motor series, enhancing high-performance motion control. The DX4 servo drive offers plug-and-play compatibility with controllers and I/O systems, all programmed within a single software, Motion Perfect, to expedite application development and commissioning for OEMs in industries like packaging, medical, and robotics. Additionally, the DX4 servo drive operates at 200V AC and powers ranging from 50W to 3kW, utilizing EtherCAT communications for precise control of up to 128 axes.

Major companies in the servo motors and drives market are increasingly focusing on introducing high-performance drive systems, such as the Sinamics S200, to gain a competitive advantage. The Sinamics S200 servo drive system is a flexible and scalable solution offering advanced motion control capabilities, precise positioning, and high-speed operation. Siemens AG, a Germany-based automation company, launched the Sinamics S200 in May 2023, catering to standard applications in the battery and electronics sectors. With a power range from 0.1 to 1 kW, the Sinamics S200 provides flexibility and scalability to meet diverse application requirements.

In November 2021, Allied Motion Technologies Inc., a US-based company specializing in motion control products and systems, acquired ORMEC Systems Corporation for an undisclosed amount. This acquisition aims to bolster Allied Motion Technologies Inc.'s integrated motion controllers and servo drives product portfolio. ORMEC Systems Corporation, a US-based company in motion control systems, brings valuable expertise to the integrated motion control sector through this strategic acquisition.

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

Asia-Pacific was the largest region in the servo motors and drivers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the servo motors and drives market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the servo motors and drives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The servo motors and drivers market consists of sales of collaborative robotics, conveyor belts, automatic door openers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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