Global servo drives
and motors market was valued at USD 8.96 billion in 2014, growing at
a CAGR of 5.6% from 2014 to 2020. Servo motors are defined as an
automatic device that utilizes an error-correction routine to correct
its motion. Servo drives add the position control to the motor by
adding feedback devices such as encoders. The precise position of the
motor's rotor can be attained with the help of feedback device, thus,
the number of revolutions could be controlled. Servo drives with
positioning control are used in machine tools and need servo motors
with a higher dynamic response than standard AC motors. Increasing
demand for high performance motors, growing vehicle production
worldwide and positive outlook of manufacturing industries are the
major factors responsible for growth of global servo drives and
motors market globally.
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Research Report of Servo Drives and Motors Market :
The global servo
drives and motors market is segmented by region into North America,
Europe, Asia-Pacific (APAC) and Rest of the World (RoW). Asia-Pacific
led the global servo drives and motors market in 2014 as well as the
fastest growing regional market. The region is also expected to
maintain its dominance in throughout the forecast period from 2014 to
2020. APAC has seen significant growth in servo drives and motors
market due to growth in GDP of countries such as India, South Korea,
China and several others. In addition, rising industrialization in
developed countries like Japan and in developing countries like China
and India are also driving the market for servo drives and motors in
this region. These are the prime factors that are driving the growth
of servo drives and motors market in Asia Pacific region. In
addition, stringent electricity consumption policy and government
programs for the replacement of out-dated electric motors with energy
efficient electric motors are expected to drive the growth for servo
drives and motors market in Europe and North America in coming few
years.
The servo drives and
motors market is segmented on the basis of types into servo drives
and servo motors. The market has been further segmented based on
different types of servo drives such as AC servo drives, DC servo
drives and adjustable speed. Servo motors are further segmented into
AC servo motors, DC brushless, brushed DC and linear servo motors.
Servo motors are holding the maximum market revenue share in 2014 and
are expected to remain so during the forecast period from 2014 to
2020. In addition, serve motors also functions at zero speed and low
speed while being able to retain its load in a set position. These
factors are driving the demand of servo motors in servo drives and
motors market globally.
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Report :
Servo drives and
motors market is further segmented by application into automotive,
semiconductor and electronics, material handling, food processing,
healthcare and others. The global servo drives and motors market is
majorly dominated by automotive segment due to increasing demand of
motor vehicles in developing nations such as India, China, Brazil and
Russia among others. Automotive is also the fastest growing
application segment in servo drives and motors market followed
healthcare and semiconductor and electronics.
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