Servo Motor Drives Market Expected to Grow at a Compound Annual Growth Rate (CAGR) of 5.4% to Reach US$20.6 Billion by 2030

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In 2021, the global market for servo motor drives was worth US$14.1 billion. The global market for servo motor drives is projected to reach USD 20.6 billion in 2030, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2022 to 2030.

Servomotors are self-contained electrical devices that provide complex position control to rotate mechanical parts. Servomotors are driven by standard motors connected to sensors that provide positioning feedback.

The use of robotics is expanding in major industries such as automobiles, food and beverages, and electronics. Servo motors and drives are the most commonly used components in this industry to improve the accuracy and speed of industrial robots. The global servo motor drive market is growing as a result of increasing demand for robots.

The profitable application of robots in the medical industry will fuel the growth of the global market for servo motor drives. Moreover, the advancement of automation in all industrial sectors will benefit the market in the coming years.

The high maintenance cost of servo motors may limit the growth of the servo motor drives market.

CNC machines such as milling machines, lathes, routers, welders, grinders, lasers, sheet metal presses and robots are activated by entering alphanumeric codes. Servo motors are the mainstream motors installed in CNC machines. Therefore, the expansion of the CNC machine market has become a major trend for the servo motor drive market.

The impact of the COVID-19 pandemic has disrupted industrial production worldwide. Steel is one of the main raw materials used in servo motors. The steel industry witnessed some turmoil, which ultimately thwarted the manufacture of servo motors. China is also a major steel producer. It produces half of the world's steel every year. Steel production has been disrupted as a result of factory closures and trade restrictions imposed by the Chinese government during the pandemic. In addition, volatility in steel prices and overall declining production are posing significant challenges for servo motor vendors, driving the market to procure raw materials.

Analysis by region

The Asia-Pacific servo motor drive market is projected to exhibit the highest growth rate. This is due to the increasing industrialization and increased automation in all industrial sectors.

Yaskawa Electric

Siemens AG

Mitsubishi Electric

schneider electric

Rockwell Automation

ABB

Nidec Corporation

Fuji Electric

Delta Electronics

FANUC CORPORATION

Other leading companies

The Global Market for Servo Motor Drives is segmented with a focus on products, servo motors, servo drives, servo motors, sales channels, power output, material output, voltage, end users, and regions.

Prospects by product type

Servo motor

Servo drive

Prospects by Servo Motor

AC Servo Motor

DC Servo Motor

By Prospects for Servo Drives

AC servo drive

DC servo drive

Composition ratio by servo motor type

Linear Servo Motor

Rotary servo motor

Forecast by sales channel

Direct sales

Indirect sales

Composition ratio by output

5kW or more

Less than 5kW

Output outlook by material

Stainless Steel

Non-stainless steel

Forecast by Voltage

low voltage

Medium Voltage

High Voltage

Perspective by End User

machine tools

Packaging

Electronics/Semiconductors

Other

By region

North America

United States

Canada

Mexico

Europe

Western Europe

England

Germany

France

Italy

Spain

The Rest of Western Europe

Eastern Europe

Poland

Russia

Other Eastern European Countries

Asia Pacific

China

India

Japan

Australia and New Zealand

ASEAN

Rest of Asia Pacific

Middle East and Africa (MEA)

UAE

Saudi Arabia

South Africa

The rest of the MEA

South America

Brazil

Argentina

Other South America

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