“Servo Motors and Drives Market is projected to grow from USD 13.9 billion in 2020 to USD 16.8 billion by 2025; it is expected to grow at a CAGR of 4.0% from 2020 to 2025. The key factors fueling the growth of this market include the growing automation in factories, rising adoption of international standards for motor efficiency, development of user-friendly motion control libraries and packages for motors and drives, and increasing production of vehicles.
Permanent magnet segment projected to grow at highest CAGR from 2020 to 2025
The permanent magnet brake technology is projected to grow at the highest CAGR from 2020 to 2025. Permanent magnet brakes are small and have a low weight, resulting in large torque per size density. This has made them highly useful for applications requiring almost zero backlashes, such as pick-and-place robots and other applications in the pharmaceuticals & healthcare industry. The increased use of permanent magnet brakes in industries such as automotive & transportation, pharmaceuticals & healthcare, textile, and packaging has propelled their market growth.
Some of the prominent key players are Yaskawa Electric (Japan), Siemens AG (Germany), Mitsubishi Electric (Japan), Schneider Electric (France), Rockwell Automation (US), ABB (Switzerland), Nidec Corporation (Japan), Fuji Electric (Japan), Delta Electronics (Taiwan), FANUC Corporation (Japan)
Servo motors product type segment accounted for the largest share of servo motors and drives market in 2019
In 2019, the servo motors segment accounted for the largest share of the servo motors and drives market, by product type. Servo motors are further segmented into AC servo motors and DC servo motors. AC servo motors provide the benefits of high torque per weight, efficiency, reliability, and low-frequency noise, which has them favorable in applications across diverse end-user industries. AC motors such as synchronous AC servo motors with permanent magnets offer a high level of accuracy and precision, making them suitable for equipment such as drill bits packaging machines, injection molding machines, and speed controllers machines used in the packaging industry. DC servo motors are commonly used in applications that require low power output as they are cost-effective in comparison with AC servo motors for such applications.
The rotary system segment is projected to grow at a higher CAGR from 2020 to 2025
The rotary segment of servo motors and drives market, by the system, is projected to grow at a higher CAGR during the forecast period. Rotary servo motors allow interaction between all magnets and the windings in all positions. This results in low installation costs of the rotary servo motor in comparison with the linear servo motor. Rotary servo motors offer benefits such as high-resolution precision feedback, low energy consumption, high response, and high torque density. This makes rotary servo motors useful for applications in packaging, healthcare, and automotive & transportation industries. Advancements in rotary system-based servo motors and drives, including the introduction of stainless steel, food-grade, ingression protection (IP)-grade, and hygienic servo motors, have led to increasing demand from industries such as food processing, pharmaceuticals, and petrochemicals.
APAC is projected to hold the largest share of servo motors and drives market in 2025
APAC is expected to hold the largest share of the servo motors and drives market in 2025. Massive investments in industrial automation to enhance the operations of the manufacturing industry are driving the growth of servo motors and drives the market in the region. This has led to growing industrialization along with the rising use of robots to achieve high productivity and efficiency in industrial applications. the high demand for consumer electronics including smartphones, home appliances, smart home devices, and wearable devices have resulted in the adoption of flexible flowline manufacturing processes, including the use of robot arms, which is expected to further drive the demand for servo motors and drives in the region. The demand for energy-efficient automobiles such as electric vehicles and hybrid vehicles owing to the formulation of environmental norms by governments of different countries has also led to the high adoption of DC servo motors in the APAC region.