Global Market Study on Servo Motors and Drives: ‘Automation’ to Augment Deployment


Servo Motors Drives  Market
  • Published On : Aug-2019 |
  • Pages : 250 Pages |
  • Format :

Servo Motors & Drives Market Report: Introduction

The latest research study performed by Persistence Market Research (PMR) evaluates the historical and the present scenario of the ‘Global Servo Motors & Drives Market’ to accurately gauge the future opportunistic development of the market. The report includes detailed information pertaining to the vital growth factors, trends, and restraints that are influencing the growth dynamics of the servo motors & drives market to find out the lucrativeness of this industry. The study also presents information about how the servo motors & drives market will gain momentum during the period 2019-2029.

The report offers incisive dynamics about the various aspects and nuances of the servo motors & drives market to aid the market players and enthusiast form rewarding strategies. PMR’s report also sheds light on the considerable changes that are highly likely to impact the dynamics of servo motors & drives market during the projection period. It covers a key indicator assessment to identify the development prospects of the servo motors & drives market and projection statistics related to the growth of the market in terms of volume (‘000 units) and value (US$ Mn).

The report also includes a detailed taxonomy of the servo motors & drives market and riveting insights related to the market structure. The study covers company profiles of the notable market players that continue to lead the market growth with their unique strategies and approaches. A wide range of development and unique strategies being leverage by the established players and the market entrants have been mentioned in a comprehensive manner.

Servo Motors & Drives Market - Segmentation

PMR’s report on servo motors & drives market can be bifurcated on the basis of technology, application, motor configuration, rated power capacity, product and region. The study offers information about the rapidly shifting market trends and dynamics related to the different market segments, and how they are influencing the development prospects of the servo motors & drives market.

Technology

Application

Motor Configuration

Rated Power Capacity

Region

Product

Single Axis Servo System

  • Pulse Duty Servo Drive
  • Continuous Duty Servo Drives

Remotely Controlled Toys

AC Servo Motors

  • Induction Type
  • Synchronous Type

400-750 W

North America

Linear Servo Motor

Multi Axis Servo System

Robotics

DC Servo Motor

  • Brushless DC Motors
  • Seprately Excited DC Motors
  • Permanent Magnet DC Motor

750-1 KW

Latin America

Rotary Servo Motor

  • Positional Rotation Type
  • Continuous Rotation Type

Electronic Devices

1-5 KW

Europe

Medical Devices

5-15 KW

East Asia

Printing & Packaging Equipment

15-50 KW

South Asia

CNC Machines

50-100 KW

MEA

Other Industrial Machinery & Equipment

What are the Salient Questions Answered in PMR’s Research Study on Servo Motors & Drives Market?

The report offers incisive information pertaining to the servo motors & drives market based on an in-depth research pertaining to the macro as well as microeconomic factors that are playing a significant role in impacting the growth prospects of the servo motors & drives market. The information presented in the study gives answers to salient queries of the currently operating market players and the companies that want to enter into servo motors & drives market, to assist them in making winning strategies to take their business forward.

  • Which technology based servo motors & drives are estimated to witness highest sales in 2023?
  • How market frontrunners are successfully cashing in on the increasing demand for servo motors & drives to make robots?
  • What are the unique strategies formulated by market goliaths in servo motors & drives market?
  • Which configuration of servo motors & drives witnessed considerable traction in 2018?
  • How does growing applications of servo motors and drives in electronic devices shaping the growth of the market?
  • What will be the Y-o-Y growth of servo motors & drives market between 2019 and 2022?

Research Methodology – Servo Motors & Drives Market

The research methodology adopted by the PMR analysts is based on a comprehensive primary as well as secondary research. By gauging the market-related trends, determinants, and information obtained by relevant sources, analysts have mentioned riveting insights and accurate forecast of the servo motors & drives market.

While performing primary research, PMR analysts conducted interviews with the leading market players to collect pertinent information about how the servo motors and drives market has changed over the years, and how they are coping with it. As a part of the secondary research phase, the analysts gauged company annual reports as well as investor presentations. They also collected relevant information from the websites and the media releases of the leading companies operating in the servo motors & drives market. The analysts also assessed articles/reports carried by validated sources of information to attain a better understanding of the servo motors & drives market.

Servo motors & drives have emerged as one of the most advanced motion control devices over the years, as they incorporate precise dimensional tolerance, advanced design methods, and high-force magnet materials. With an increasing number of industries shifting their focus towards maintaining a high level of precision, reduced labor costs and production wastages, and improved production output, the deployment of servo motors & drives continue to pick pace.

While the industry 4.0 trend is already underway in several regions, the lucrativeness of the servo motors & drives is likely to grow in the years to come. In view of rapid shift of industries towards automation and robotics, Persistence Market Research (PMR) analysts decided to evaluate the opportunity prospects of the servo motors & drives market. Rising penetration of robotic technology in daily life is envisaged to push the global sales of servo motors & drives market.

servo motors & drives market infographic.jpg

Evolution of Servo Motors & Drives Market

The servo motors & drives market tracks back to 1800’s when the first working rotating electric motor was introduced in May 1834 by Moritz Jacobi. Over the years, the motors have transformed completely, from conventional ones to high-tech modern variants. Starting from DC motors, the technology roadmap witnessed AC motors and steeper motors before the advent of servo motors, which continue to revolutionize the industrial operations considerably. With an increased number of industries leveraging advanced technology and inclining towards automation, the demand for servo motors & drives have grown considerably in recent years.

As per the PMR analysis, the sales of servo motors & drives reached US$ 12,177.3 MN in 2018, and are envisaged to grow by ~6% in 2019. Versatile profile of servo motors & drives with low maintenance and impressive durability is increasingly compelling manufacturers to look forward to servomotors as an integrated part of their facility, which in turn, is highly likely to fuel the market growth.

Compelling Trends Shaping the Growth Prospects of Servo Motors & Drives Market

Industry 4.0 Paving the Way for Deployment of Servo Motors & Drives

Automation in industrial processes has resulted into high production, low cost, more precision, and reduced man-power requirement in the recent years. For that matter, the automation industry continues to grow by leaps and bounds, thereby creating extensive applications for advanced instruments and machines. Rapidly growing trend of industry 4.0 has created a stream of opportunities for market players, with large number of industries continuing to replace conventional motors with servo motors & drives to streamline operations and enhance overall production. Numerous industries have shifted to servo motors & drives to conduct precise operations led by the input signals. This falls in line with the fact that as multicore servo motors & drives promise higher precision, give better feedback, and provide greater control, they have emerged as a key foundation for Industry 4.0.

Growing Penetration of Robotics in Operations Promising Umpteen Market Gains

With a growing number of manufacturing industries placing their focus on leveraging advanced technology and embracing automation, the demand for industrial robots continues to remain unprecedented. Growing use of industrial robots in extensive range of assembly, pick-up, and manufacturing applications across automotive, electrical/electronics, automotive, metal, and other machining industries, continues to fuel deployment of servo motors & drives across various verticals. Adoption of servo motors & drives for robotics applications has grown in recent years, and attributed to sales worth ~US$ 5,712 Mn in 2018. This is envisaged to grow further in the years to come, as conventional motors continue to lose their grip, and are increasing getting replaced by faster, more efficient and durable variants.

Light Weight Material Finding Way in Servo Motors & Drives

In view of the growing demand for servo motors & drives for light applications, manufacturers are utilizing iron alloys to make light weight gear systems of servo motors to design efficient products. For light applications, such as remotely assisted products, such as toy airplane or toy automotive car, light weight gear systems are witnessing adoption to make efficient power to weight ratio. Moreover, several manufacturers are also leveraging plastic gears for low power applications, such as for making tiny robots and scanning type sensors.

East Asia to Outpace Europe through 2029

Gains continue to remain concentrated Europe for servo motors & drives’ manufacturers, owing to the healthy presence of end-use industries, such as automotive manufacturing plants, and food & beverages. However, the table is likely to turn for European servo motors & drives market in the forthcoming years, with East Asia anticipated to surpass the region by the latter half of the forecast period. With growing manufacturing industries in East Asia, PMR estimates the market to grow at ~10% CAGR in the region during the foreseeable period.

What’s Bothering the Manufacturers of Servo Motors & Drives?

Though wide applications of servo motors & drives have been increasing their adoption across various verticals, the small scale companies continue to utilize conventional motors owing to their comparatively lower costs. Low cost stepped motors continue to maintain their standpoint across small scale companies that often face budget crunch. Easy availability of various cheap substitutes, including serviced motors are also narrowing down the growth path of stakeholders.

Winning Strategies

Manufacturing Industry-Specific Variants

Several players in the servo motors & drives market have placed their focus on manufacturing products that are designed to cater to application specific requisites in a more enhanced way to secure considerable increment sales. For instance, in view of the growing traction from meat processing industry, numerous manufacturers have launched steel servomotors with exceptional anti-corrosive properties. Stakeholders are witnessing an increased demand for anti-corrosive servomotors, as these variants not only showcase feasibility but also aid to maintain proper hygiene in medical and food & beverages verticals. For instance, in April 2019, Altra Industrial Motion Corp. launched stainless steel servomotors, which are ideal for meat processing equipment as it utilizes hygienic material.

Forward Integration at Play

With the growing competition in the servo motors & drives market, an increasing number of market players are collaborating and making deals with end-use companies to secure the sales of servo motors. This falls in line with their growing focus on not only attaining an edge in competition but to obtain the liberty to customize products as per their client’s demand. Furthermore, market frontrunners are also collaborating with end-use industries for setting up and installing servo systems. Such long-term contracts with end-users continue to promise stability in the revenue generation of companies and are creating opportunities for growth.

Experimenting with Sales & Distribution Channels

Growing number of manufacturers in servo motors & drives market have shifted their focus on providing hassle-free door delivery to customers. For instance, in 2019, Siemens AG launched a new programs to provide its customers reliable, door to door and promising delivery worldwide. Stakeholders are solidifying their sales channel to expand customer reach and make it easy for customers to purchase products. Additionally, in March 2019, Siemens AG also announced its plans to acquire KACO New Energy, which is a leading electronics manufacturer in the U.S. to fortify its position in the global market.

Lazer-sharp Focus on New & Better Product Development

As the servo motors & drives market continues to pick pace in terms of competition, market players are increasingly working on new product development with a sharp focus on overcoming the shortcomings of the precursors. For instance, in May 2019, Parker Hannifin launched PSD servo drives that provides enhanced safety and reliability to the customer. In April 2017, Panasonic Corporation launched its new and improved servomotor segment of Minas A6 family to cater to the growing customer demand. In November 2018, Altra Industrial Motion Corp. introduced a new dual axis servo drive, which covered substantial shortcomings of the existing drives in the market.

Mapping the Market Structure

  • In April 2019, Siemens launched an enclosed IEC motor for industrial and construction application, with an aim to strengthen its position in the servo motors & drives market.
  • In June 2019, Mitsubishi Electric Corporation opened a new office in Boston, U.S. to expand its geographical presence in North America.

The global servo motors & drives market is moderately fragmented due to the presence of adequate players across the globe. The top three players in the servo motors & drives market- Panasonic Corporation, Nidec Motor Corporation, and Nidec Motor Corporation accounted for more than half of the market share in 2018, and continue to remain the trailblazer with their unique product, channel, development, and go-to market strategies.

servo motors & drives market segmentation

Analyst’s Viewpoint 

The authors of the servo motors & drives market anticipate 2.3X growth in servo motors & drives market by the end of 2029, while expanding at a CAGR of ~8% during the foreseeable period. Though the high costing aspect of servo motors & drives has been restraining small-scale industries from purchasing servomotors, sales have grown considerably in companies with mass production and bulk manufacturing capacity. Moreover, rapid industrial automation continues to set the stage for the deployment of servo motors & drives across a wide range of industries, thereby solidifying the growth prospects of the market. Market players that are increasingly setting their bets on innovative and diverse servo motors & drives are envisaged to gain a stronger hold in the market through 2029.

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Rising Awareness for Precision & Accuracy to Increase the Sales of Servo Motors & Drives over the Forecast Period

Servo Motors and Drives Market: Introduction

Servo motor is an electrical device that rotates an object or system such as a robot’s arm with prodigious precision and are most commonly used for high technology devices in industrial applications such as automation technology. It is a self-contained electrical device, which rotates the parts of the machine with significant efficiency and high precision. Moreover, the output shaft of this motor can be moved to a particular angle. A servo motor has four major components such as combine motor, feedback circuit, controller, and an electronic circuit. Due to the attached feedback system, these motors work in a close loop system.

Servo drives can also be called an amplifier since, it takes the control signal from controller and amplifies it to deliver a specific amount of voltage and current to the motor.

Servo motors and drives have several advantages over conventional DC motors and steeper motors such as attached feedback systems, high rpm, etc. The global servo motors and drives market has been continuously studied with a deep understanding of the macro factors and forecast factors to provide a comprehensive analysis to clients. The intense use of automation in diverse sectors is likely to propel the growth of the servo motors and drives market.

The global servo motors and drives market is expected to grow at a CAGR of ~ 8%, and is estimated to reach a value of ~ US$ 28 Bn by the end of the forecast period. Moreover, in the global study of servo motors and drives, PMR considers only the new sales of servo motors and drives across the historical and forecast period.

Increasing Manufacturing of Customized Servo Motors and Drives Propelling the Market Growth

Several manufacturers are nowadays striving to come up with industry specific solutions to provide better and efficient products and meet the increasing requirement of customers in the market. The adoption of servo motors and drives is heavily increasing due to the several advantages of servo motors and drives. For instance, to attract customers from the meat processing and cutting industry, many companies are manufacturing stainless steel servo motors, which could serve its customers.

The Robotics Segment Estimated to Witness an Unprecedented Growth during the Forecast Period

In the global servo motors and drives market, the robotics segment could possibly attract a notable traction in the global market of servo motors and drives owing to significant growth in the robotics industry as well as developments in the conventional manufacturing. The fact that companies from every industry are keen towards the production of products with more precision to match the exact desired dimensions, which can only be achieved by implementing the automation process in the industry with least human interference to reduce any possibility of human error.

However, in the technology segment, the single axis servo system segment is projected to be the paramount segment in the projected time period due to the intense demand for single axis servo systems. Single axis servo systems are available at a reasonable cost as compared to multi axis servo motors and can perform all the basic tasks in very efficient manner, which could promote further growth in the sales of such servo motors and drives.

Europe Projected to Register Significant Potential in the Global Market 

In the global servo motors and drives market, Europe, East Asia, and South Asia regions collectively account for addressable share owing to the significant presence of end-use industries. The East Asia region emerge as a noteworthy region to grow with considerable CAGR over the stipulated time period.

Moreover, in these regions, factory or plant’s owners are replacing conventional motor systems with servo motors and drives to improve the productivity and on-time production. North America and Middle East & Africa regions are estimated to create adequate market opportunities over the upcoming decades owing to the significantly increasing number of assemblies or manufacturing plants in these regions.

Servo Motors and Drives Market Structure

The global servo motors and drives market is moderately fragmented due to the presence of significant companies in the market. Moreover, tier 3 players account minimal share in the global servo motors & drives market. According to the global in-depth study, there are many global companies active in the market with sales across different regions of the world.

Key Questions Answered in the Servo Motors and Drives Market Report

  • How the servo motors and drives market is expected to grow over the projected period?
  • What direction is the servo motors and drives market expected to take in terms of volume and value during the forecast period?
  • What is the expected impact of macroeconomic factors on the servo motors and drives market in the future?
  • What are the key factors driving the servo motors and drives market?
  • What are the significant opportunities and improvement areas for manufacturers of servo motors and drives?
  • What are the key developments and trends taking place in the servo motors and drives market?
  • Which emerging countries are expected to create significant growth opportunities in the servo motors and drives market?

Company Profiles:

  • Siemens AG 
  • Altra Industrial Motion Corp.
  • Panasonic Corporation
  • Nidec Motor Corporation
  • Parker Hannifin Corporation
  • Delta Electronics Inc.
  • Fuji Electric Co., Ltd.
  • Hitachi Ltd.
  • Rozum Robotics Inc.
  • Mitsubishi Electric Corporation
  • Schneider Electric
  • FANUC CORPORATION
  • Rockwell Automation, Inc.
  • ABB
  • Applied Motion Products
  • Baumüller
  • Nippon Pulse America, Inc.
  • YASKAWA ELECTRIC CORPORATION.
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