Transparency
Market Research (TMR) has published a research study on the
global market for servo drives and motors, estimating it to expand at
a CAGR of 5.60% during the period from 2014 to 2020 and reach a value
of US$12.4 bn by the end of the forecast period.The market report,
titled “Servo
Drives and Motors Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2014 - 2020”, states that
the worldwide global servo drives and motors market stood at US$8.3
bn in 2013.
According to the
report, the remarkable growth of the automotive industry has
propelled the demand for servo drives and motors to a significant
extent. Additionally, the technical advancement in servomechanism is
likely to stimulate this market extensively during the forecast
period.The research report analyzes the global market for servo
drives and motors on the basis of type and application. Based on
types, the market is broadly classified into servo drives and servo
motors. The servo motors segment dominated the global market for
servo drives and motors in 2014, accounting for a share of US$6.09 bn
in the overall revenue generated.
Further, the servo
drives market has been segmented into DC servo drives, AC servo
drives, and adjustable speed devices and the servo motors market has
been classified into AC servo motors, linear servo motors, brushed
DC, and DC brushless in this research report.The report identifies
the automotive, food processing, material handling, semiconductor and
electronics, and healthcare industries as the prime application areas
for servo drives and motors. The demand for servo drives and motors
has been the highest from the automotive industry. In 2014, the
global servo drives and motors market generated a revenue of US$2.4
bn from the automotive industry, which accounted for a share of more
than 25% in the global market.
The increasing sale
of electric as well as hybrid vehicles is likely to boost the demand
for servo drives and motors in this industry, maintaining its
position as the biggest consumer during the forecast period, states
the report.
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The North America,
Asia Pacific, Europe, and the Rest of the World are the major
regional markets for servo drives and motors, states the study. Among
these, Asia Pacific is the current market leader and is expected to
maintain its dominance over the forecast period. In 2014, this
regional market registered the fastest growth and generated a revenue
of US$3.7 bn in the overall market. Other regional markets are also
projected to post remarkable growth in the coming years, states the
report.
Baldor Electric Co.
Inc., Siemens, Rockwell Automation Inc., Yaskawa Electric Corp.,
Schneider Electric S.E., Mitsubishi Electric Corp., Emerson Electric
Co., Nidec Corp., Parker Hannifin Corp., and ABB Ltd. are the Key
Companies operating in the global
servo drives and motors market, states the research study.
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Market Research employs rigorous primary and secondary research
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