Servo Motors and Drives Market

Global Servo Motors and Drives Market Size (2024 to 2029)

The global servo motors and drives market is estimated to grow at a CAGR of 6.64% from 2024 to 2029 and the global market size is anticipated to grow from USD 7.83 billion in 2024 to USD 10.79 billion by 2029.

Servo motors and drives are automated linear or rotary actuators used in industrial machinery such as conveyor belts, packing machines, food processing units, semiconductors, and robots for accurate position control. They are an important part of the servo motor controller and work in closed-loop systems to regulate the rotational speed of the motors by registering positional feedback. Simple direct current (DC), brushless, brushed, linear servo motors, and alternating current (AC) motors and drives are the most often used servo motors and drives. They're frequently employed as an amplifier to regulate the amount of current sent to the motor. As a result, they have a wide range of applications in industries such as automotive, semiconductors and electronics, healthcare, packaging, oil and gas, and chemicals.

MARKET DRIVERS

As a result, the extensive use of robots in a variety of sectors is boosting market development. Assembly, pick-up, and manufacturing applications are all common uses for industrial robots. Rotary servo motors allow magnets and windings to interact, and they have several advantages, including high-resolution accurate feedback, high torque density, and low energy consumption. This, together with many technological developments like the integration of connected devices with the Internet of Things (IoT) and artificial intelligence (AI), is propelling servo motors and drives market growth. The adoption of servo motors and drivers has increased significantly in the recent past due to their improved specifications, such as AI integration and faster reaction times as compared to traditional units, as well as industrial automation and this trend is likely to continue in the coming days and propel the global market growth.

Low noise, consistent speed, high torque, high efficiency, and precision are all advantages of AC servo motors and drives over DC servo systems. These systems are also easy to use and have a long lifespan and adaptability. The AC servo motor is more adaptable to voltage changes than the DC servo motor. Machine tools, aircraft components, CNC machines, printing machines, food processing equipment, household appliances, off-road vehicles, robotics, and wafer manufacturing machines all benefit from AC servo motors. Therefore, several end users, including food and drinks, healthcare, printing and packaging, semiconductor and electronics, robotics, and aerospace and military, make sure of these AC servo motors, which is further fuelling the market growth.

MARKET RESTRAINTS

Brushless DC (BLDC) motors, which are a low-cost alternative to AC servo motors, are projected to limit market development throughout the projection period. A BLDC motor system is comparable to an AC servo motor in terms of setup. It is powered by a DC source that creates an alternating current to activate each motor phase via a closed-loop system that is suited for autos and a variety of household appliances such as washing machines, which is further hampering the growth of the global market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Servo Motors and Drives Market Analysis By Product Type

A servo motor may be classified into two types: synchronous and induction AC servo motors. Servo motors are predicted to have the largest Servo Motors and Drives market share over the forecast period. The need for AC servo motors from industrial industries is driving this increase. The permanent magnet synchronous AC servo motor offers great performance and precision, making it ideal for aviation elements, including starters, flaps, landing gears, and hydraulic pumps.

Due to the increasing development of more flexible, micro-sized, and next-generation AC servo drives with high power, the AC servo drives industry is expected to increase significantly throughout the projected period. Furthermore, the use of AC servo drives to control servo motors in motion control applications is becoming more common.

Global Servo Motors and Drives Market Analysis By Voltage Range

Low voltage (below 230V) maintained a significant Servo Motors and Drives market share and is expected to expand at the fastest CAGR throughout the projection period. The growing use of low-voltage servo motors in mobile robot applications is responsible for this rise. Low-cost maintenance is required for the low-voltage servo motor. Due to the increasing usage of medium and high voltage servo motors for enhanced reliability, precision, and quality, the medium (230-480V) and high voltage (Above 480V) segments are expected to develop steadily throughout the projected period.

Global Servo Motors and Drives Market Analysis By Phase

In 2021, the three-phase AC servo motor was the Servo Motors and Drives market leader. During the projected period, this category is expected to increase at a fast rate. This expansion is mostly due to technical advancements in high-power applications. High torque and high-speed responsiveness are also provided by this phase type. During the projected period, the two-phase AC servo motor is expected to increase at a modest rate. The growing usage of a two-phase AC servo motor for low-power machine tools is responsible for this rise.

Global Servo Motors and Drives Market Analysis By Communication Protocol

Due to its ability to handle a variety of network topologies, such as a tree, ring, and star, the Fieldbus communication protocol sector enjoyed a significant market share. This communication protocol connects AC servo drives with a single wire, reducing system complexity and increasing communication speed.

During the projection period, the industrial ethernet sector is predicted to develop at a significant compound yearly growth rate. The rise in use of industrial ethernet protocol for servo drives is attributable to the fact that it provides high communication speed, real-time control, and large-capacity communication. Communication protocols such as CC-Link IE, EtherCAT, EtherNet/IP, and PROFINET are also included. Mitsubishi Electric Corporation, for example, produces servo amplifiers with industrial ethernet communication protocols like MR-J4, which support PROFINET, EtherCAT, and EtherNet/IP. The growing design and development of servo motors and drives using wireless technologies will provide substantial growth prospects for the wireless ethernet market in the next years.

Global Servo Motors and Drives Market Analysis By Industry

The automotive sector category is expected to lead the Servo Motors and Drives market in 2022 and increase at a quicker rate throughout the forecast period. This expansion might be ascribed to the growing use of robots in high-volume manufacturing to suit the growing demand for ground vehicles. Furthermore, automated manufacturing can lower the costs and issues associated with non-automated manufacturing technologies. It also aids in the creation of a high-quality product. According to Forbes statistics from 2019, the United States has 228 industrial robots per 10,000 workers. Furthermore, throughout the projected period, the increased deployment of smart robots for product supply is likely to fuel market growth. Because of the growing popularity of smart home appliances, mobile phones, and other electronic gadgets throughout the world, the semiconductor and electronics market is expected to rise dramatically.

REGIONAL ANALYSIS

The Asia Pacific market was valued at USD 2.35 billion, and it is expected to lead the worldwide AC servo motors and drives market throughout the projected period. Key market companies in Japan, such as Yaskawa Electric Corporation, Mitsubishi Electric Corporation, and Fuji Electric Co., Ltd., are credited with this supremacy. The rapid expansion of manufacturing industries in nations like China, South Korea, Japan, and India is likely to enhance demand for AC servo motors and drives in the area. According to Forbes, just five nations, including Japan, China, South Korea, the United States, and Germany, deployed 73 percent of all new industrial robots.

Because of the growing use of robot arms, North America had a considerable proportion in the base year. Because of the large presence of end-use industries in Europe, the market is expected to increase significantly over the projected period. For example, Yaskawa Electric Corporation, a Japanese firm, invested USD 28.03 million in Hattersheim to create its new European headquarters in December 2020. The increased demand for novel electronic gadgets, as well as the increasing penetration of industrial automation technology in a variety of industry verticals throughout the world, are driving this rise.

KEY MARKET PLAYERS

Yaskawa Electric Corp., Mitsubishi Electric Corp., Siemens AG, Schneider Electric, Rockwell Automation, Inc., ABB Ltd., Delta Electronics, Inc., Emerson Electric Co., Fuji Electric., and Bosch Rexroth AG and Hitachi Ltd are some of the major players in the global servo motors and drives market.

RECENT HAPPENINGS IN THE MARKET

• Rockwell Automation announced fanless Kinetix VPC servo motors in March 2020. The new servo motors outperform the previous VPC continuous duty servo motors in terms of performance and energy efficiency, and they attain IE5 energy efficiency ratings. The new products eliminate torque ripple and may be used for high-quality printing, tensioning, and other operations.

• The Simatic Micro F-TM servo drive was introduced by Siemens in November 2019. The new drive enables dynamic and precise positioning and features a safe extra low voltage range of 24 to 48 volts. Positioning activities, automated guided vehicle systems (AGVS), and production equipment can all benefit from the servo-drive system.

DETAILED SEGMENTATION OF THE GLOBAL SERVO MOTORS AND DRIVERS MARKET INCLUDED IN THIS REPORT

This research report on the global servo motors and drivers market has been segmented and sub-segmented based on the product type, voltage range, phase, communication protocol, industry, and region. 

By Product Type

• Servo Motors

• Servo Drives

By Voltage Range

• Low Voltage

• Medium Voltage

• High Voltage

By Phase

• Two-Phase

• Three-Phase

By Communication Protocol

• Fieldbus

• Industrial Ethernet

• Wireless

By Industry

• Aerospace & Defense

• Automotive and Transportation

• Semiconductor and Electronics

• Printing & Packaging

• Food & Beverage

• Chemicals and Petrochemicals

• Others

By Region

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific –

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus