The global servo
drives and motors market is greatly driven by the expanding
automation industry. Furthermore, falling servo motors prices and
accelerating technological improvement is further driving the growth
of the global servo drivers and motors market.
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Research Report of Servo Drives and Motors Market :
Servo motors are
mostly used for attainting control over angular position, velocity,
and acceleration. These motors work on the servo mechanism that uses
error-sensing feedbacks to adjust the functioning. This is one of the
most commonly used automation tool in several industries, which has
made it highly essential on an international scale. The
implementation of servo motors and drives optimizes the operating
time and cost of inventory processes along with manufacturing. These
attributes of servo drives and motors will help the market maintain a
steady growth pace.
Why Asia is
Leading the Global Servo Drives and Motors Market
Geographically, the
global servo drives and motors market is divided into North America,
Europe, Asia Pacific, and Rest of the World (RoW). Currently, Asia
Pacific is leading the global servo drives and motors market. In
2014, this regional market held revenue of US$3.74 billion. The Asia
Pacific region is expected to maintain its dominance in the global
servo drives and motors market throughout the forecast period.
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The rapid growth in
manufacturing of servo drives and motors geared systems such as motor
vehicles and materials and semiconductors and electronics is driving
this regional market. Moreover, the presence of emerging economies in
this region such as China, South Korea, and India is also supporting
the growth of the Asia Pacific servo drives and motors market. Though
Asia Pacific will lead the global servo drives and motors market, the
high dependence on China for rare earth minerals will somewhat
constrict the growth of this regional market.
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Release of Servo Drives and Motors Market :
China, Germany,
Japan, and the U.S. were the major contributors to the revenue of the
global servo drives and motors market in 2012. Additionally,
stringent consumption laws and government programs for replacement of
outdated electric motors with more energy-efficient motors will drive
the servo drivers and motors in the developed market of North America
and Europe.
Other Key Growth
Sectors in the Global Servo Drives and Motors Market
According to a
market research firm, the global servo drives and motors market was
worth US$8.38 billion in 2013. The market is expected to expand at a
5.6% CAGR during the forecast period of 2014 to 2020 and will reach a
market value of US$12.44 billion by 2020.
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Servo Drives and Motors Market :
By application, the
global servo drives and motors market is segmented into material
handling, healthcare, food processing, semiconductor and electronics,
and others. In 2014, the automotive sector held the largest market
share of more than 25% in the global servo drives and motors market.
This sector is expected to grow at the highest CAGR during the
forecasting horizon due to the rapid growth in sales of electric and
hybrid vehicles.
On the basis of
type, the global servo drives and motor market is segmented into
servo motors and servo drives which are further classified into
sub-sectors. Servo motors ruled the global servo drives and motors
market with US$6.09 billion revenue in 2014. Servo drives are further
divided into AC, DC, and adjustable speed servo drives. On the other
hand, servo motors are divided into AC servo motors, linear servo
motors, DC brushless, and brushed DC.
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The key
manufacturers in the global servo drives and motors market are Baldor
Electric Company, Siemens AG, Yaskawa Electric Corporation, Rockwell
Automation Inc., Mitsubishi Electric Corporation, Schneider Electric
S.E., Parker Hannifin Corporation, ABB Ltd., Emerson Electric Co.,
Nidec Corporation, and others.
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