The global servo motor market size is expected to be worth around US$ 20.4 billion by 2030, according to a new report by Vision Research Reports.
The global servo motor market size was valued at US$ 10.8 billion in 2020 and is anticipated to grow at a CAGR of 9.9% during forecast period 2021 to 2030.
|Market Size||US$ 20.4 Bn by 2030|
|Growth Rate||CAGR of 9.9% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Motor Type , Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Amada Corporation, TRUMPF, and Bystronic Laser AG, Jenoptik AG; IPG Photonics; Jet Edge, Inc.; and Messer Cutting|
Servo motors help reduce operating time and save costs of inventory processes and manufacturing. Development of efficient and advanced automation technologies, easy integration and use of motion control components in motors, and increased adoption of energy-efficient international standards are prime growth drivers of the market. Rising demand for energy-efficient motors has resulted in a shift from standard energy-efficient electric motors to premium ones. This shift in trend is directly contributing to rising demand for servo motors as well revenue growth of motor manufacturers.
Rapid growth and advancements in automation, coupled with increasing adoption of international energy-efficient standards, are some of the substantial drivers influencing market growth. Stringent electricity utilization standards, rising electricity prices, and need to replace outdated low-efficient electric motors with highly efficient servo motors are anticipated to boost their demand over the forecast period.
By Type Analysis
The market is majorly classified on the basis of type into AC and DC motors. While both are widely used in servo systems, the AC type endures higher current and is often used in in-line manufacturing, robots, and other industrial applications where high precision and repetition are required.
AC segment held the largest market share and is anticipated to dominate the market over the forecast period. Increasing sales of electric vehicles are expected to drive the segment through 2030.
The DC segment is also anticipated to witness healthy growth in the servo motor market, registering a CAGR of 10.0% by 2030. These are used for variable speed control applications in electronic toys, industrial machinery, and equipment, among others.
By Application Analysis
the motor vehicles segment contributed to over 30% of the overall revenue owing to high demand for electric and hybrid vehicles. Increasing fuel prices and pollution have resulted in rising demand for electric vehicles in developed and emerging economies such as Japan, China, Germany, and the U.S.
Growing demand for vehicles in developing nations such as India, South Korea, and China is a key factor driving the global market. These countries are turning into automotive manufacturing hubs, which is further estimated to propel regional markets over the forecast period.
The industrial machinery segment is expected to witness the highest growth by 2030, registering a CAGR of over 7.0% over the forecast period. In the industrial segment, these motors are used in material handling, packaging, factory automation,
By Regional Analysis
Asia Pacific accounted for the largest market share in 2020. Increasing industrial activities, coupled with need for fast and accurate motors for higher production output, is driving demand in this region. Additionally, rising need for energy-efficient production processes is catapulting market growth.
Growing industrialization in developing countries is a major growth driver for the market. Factors such as availability of low-cost skilled workforce, administrative setup, favorable business landscape, and attractive foreign policies have enabled manufacturers to shift their processes to Asia Pacific.
General Electric Company; Nidec Corporation; Allied Motion Technologies, Inc.; Ametek, Inc.; Siemens AG; Schneider Electric; Rockwell Automation Inc.; ABB; and WEG.
By Motor Type
Aerospace & Transportation
Middle East & Africa (MEA)
The Servo Motor market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Servo Motor market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Servo Motor market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Servo Motor market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Servo Motor market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Servo Motor capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Servo Motor by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Servo Motor market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Servo Motor market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Servo Motor market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Servo Motor industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Servo Motor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Servo Motor market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Servo Motor market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Servo Motor market. These factors have benefited the growth of the global market for Servo Motor. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Servo Motor. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Servo Motor are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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