Global Servo Drives and Motors Market to Reach US$12.4 bn by 2020, Rise in Automotive Industry Drives Growth

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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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.  

Servo Drives and Motors Help Increase Operational Efficiency – A Key Factor Boosting Global Market

A new market study released by Transparency Market Research (TMR) provides insights into the market drivers, restraints, and trends in the global market for servo drives and motors for the period from 2014 to 2020. The report, titled “Servo Drives and Motors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, is available for sale on the company website.The report states that the Global Servo Drives And Motors Market will rise at a modest 5.6% CAGR from 2014 to 2020. As a result, the market, which had a valuation of US$8.38 bn in 2013, will be worth US$12.44 bn in 2020.

Servo motors are high performance electric motors having characteristics such as controlling the movement of machines. In addition, servo motors offer easy installation and no maintenance cost. Increasing electricity prices and stringent electricity utilization standards are driving the demand for energy efficient motors globally. The market of servo drives and motors is expected to grow at a slower pace in North America and Europe region. The demand for servo drives and motors is expected to rise due to the replacement of out-dated low efficient electric motors with highly efficient servo drives and motors. In addition, the strict energy consumption regulations and environment protection acts as the key factors that are driving the servo drives and motors market globally.

Growth of the servo drives and motors market is mostly associated with its uses in food processing, packaging machines, machine tools, semiconductors, and others. The surge in its application in the healthcare industry and robotics has also significantly fuelled the growth prospects of the servo drives and motors market. Some of the LEADING COMPANIES that have ventured across diverse applications of servo systems are Siemens AG (Germany), Yaskawa Electric (Japan), Baldor Electric (U.S.), Rockwell Automation (U.S.), Mitsubishi Electric Corporation (Japan), Schneider Electric (France), Fanuc (Japan), and Rockwell Automation (U.S).

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Servo motors are high-performing electric motors. They are generally used to control the movement of machines. Servo drives and motors are integrated with high-force magnet materials, and precise dimensional tolerance. These systems also have advanced design methods. Integrating servo motors and drives in processes significantly reduces the operating time and saves the cost incurred in manufacturing. Additionally, servo motors are easy to install and have a low maintenance cost. All these factors have contributed to the expansion of the servo drives and motors market.

Increasing electricity prices and stringent regulations on electricity usage are driving the demand for energy-efficient motors around the world, thereby expanding the global market for servo drives and motors. The market, according to experts, has also benefited from the increased production of motor vehicles, semiconductors, healthcare products, electronics, and other motor-driven products.

This market research study analyzes the servo drives and motors market on a global level, and provides estimates in terms of revenue (USD billion) from 2014 to 2020. The report identifies the drivers and restraints affecting the market and analyzes their impact over the forecast period. In addition, it identifies the significant opportunities for market growth in the coming years.

The report provides company market share analysis of the various industry participants. KEY players have also been profiled on the basis of company overview, financial overview, business strategies and recent developments in the field of servo drives and motors. Major market participants profiled in this report include Siemens AG, Baldor Electric Company, Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Rockwell Automation Inc., Schneider Electric S.E, Emerson Electric Co., Parker Hannifin Corporation, Nidec Corporation and ABB Ltd. among others.

About Us :

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.