Servo motors are the most sophisticated motion control devices with advanced design methods, high-force magnet materials, and precise dimensional tolerance. The Servo motor market is one of the most lucrative markets in the automotive sector. Increasing demand for high-performance motors, growing vehicle production worldwide and the positive outlook of manufacturing industries are the major factors responsible for the growth of global servo motors market. They are designed and intended to be used in motion control applications that involve exceptional performance, quick reversing, and high accuracy positioning. Additionally, they offer easy installation and involve no maintenance cost, thus driving their demand over the forecast period.
The demand for industrial automation would continue to grow due to the increased requirements of high product quality, paired with expectations of equally high reliability in high volume production. Lightweight machines, reduced size, increase in speed and higher torque are providing huge market opportunities. Reduced prices have grabbed the attention of manufacturer’s on the subjects such as advanced design, production techniques and production time.
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AC Motor segment holds the largest market share of the overall servo motor market during the forecast period
On the basis of motor type, the servo motor market has been segmented into AC motor and DC motor. In 2017, AC Motor is the leading segment in the global servo market and anticipated to lead over the forecast period 2019-2025. AC motor type endures higher current, used in in-line manufacturing, robots, and other industrial applications where high precision and repetition are required. AC motors are comparatively lighter and smaller and are generally used in HVAC equipment, industrial and home appliances, and manufacturing facilities. They are more cost-effective as they incur negligible or no maintenance cost. Growing adoption of electric vehicles, falling prices and increasing demand for servomotors are expected to maintain a steady pace in the industry. The DC Motor segment is projected to grow with a significant growth rate. These are used for variable speed control applications in electronic toys, industrial machinery, and equipment, among others.
Motor Vehicle segment is the leading application in the global servo motor market during the forecast period
On the basis of application, the servo motor market has been divided into Industrial Machinery, Motor Vehicles, Household Appliances, Aerospace & Transportation, Heating, ventilation, and air conditioning (HVAC), and Others. Growing demand for high-performance motors, increasing vehicle production worldwide will fuel the servo motor in the automotive sector. Servo motors enhance the efficiency of production and manufacturing facilities in the automotive industry. Additionally, adoption of these motors has increased exponentially in the automotive industry due to the development of low-cost and highly efficient electronics, advancements in technology used in servo systems have resulted in increased end-user interest.
Asia Pacific is expected to account for the largest market size in the global servo motor market during the forecast period.
Based on the region, the servo motor market has been bifurcated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2017, Asia-pacific accounts for the largest share of the global servo motor. Owing to rising industrialization, growing demand for energy-efficient products, increasing production and sale of an electric vehicle. An increasing number of initiatives taken by the governing authorities such as offering subsidies and incentives on purchasing the electric vehicles will fuel the growth of the servo motor market in the APAC region.
Objective of the Study:
- To analyze and forecast market size of the Global servo motor market, in terms of value & volume.
- To examine the careful market segmentation and forecast the market size, in terms value, on the basis of region by segmenting servo motor market into five regions, namely, North America, Europe, Asia Pacific, Middle East and their leading countries.
- To outline, categorized and forecast the global servo motor market on the basis of application, and by type.
- To examine competitive developments like expansions, technological advancement, services, and regulative framework within the global servo motor market.
- To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
- To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
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Global Servo Motor Market Competitive Landscape
Companies such as ABB Ltd., Allied Motion Technologies, Inc., Ametek, Inc., General Electric Company, Nidec Corporation, Rockwell Automation Inc., Schneider Electric, Emerson Electric Company, Siemens AG, WEG Industries, Hitachi Ltd., Oriental Motor, Mitsubishi Electric Corp., Panasonic, Rexroth (Bosch), Delta, Toshiba Corp., Danfoss Group, Fuji Electric Holdings Co. Ltd., Yaskawa Electric Corp. are the key players in manufacturing servo motor globally.
Scope of the Report
- Industrial Machinery
- Motor Vehicles
- Household Appliances
- Aerospace & Transportation
- Heating, ventilation, and air conditioning (HVAC)
- AC Motor
- DC Motor
In addition, the report provides analysis of the servo motor market with respect to the following geographic segments and their high performing regions:
- North America
- Asia Pacific (APAC)
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