In-depth analysis and data-driven insights on the impact of COVID-19 included in this global servo motors and drives market report.
The servo motors and drives market is expected to grow at a CAGR of over 5% during the period 2020−2026.
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Servo Motors and Drives Market – Segmentation
Servo Motors and Drives Market by Product Type
Servo Motors and Drives Market by Motor Type
Servo Motors and Drives Market by Sales Channel
Servo Motors and Drives Market by Power Output
Servo Motors and Drives Market by Material
Servo Motors and Drives Market by Voltage
Servo Motors and Drives Market by End-User
Servo Motors and Drives Market – Dynamics
Servo motors and drives are some of the major components used in the industry to enhance the precision and speed of robots in industrial applications. Thus, the increased demand for robots has boosted the growth of the servo motors and drives market globally. Robotic applications are in high demand in manufacturing units and in the medical industry. Servo motors and drives are solely responsible for a robot’s movement in any industrial application. Hence, their precision is quite important. These motors change the direction and angle of different parts of a robot in a particular direction. Servo motors can travel at speeds of around 900 mm/s and are ideal for short-stroke movements such as bending and gripping and are thus used in several industrial and commercial applications.
Key Drivers and Trends fueling Market Growth:
Servo Motors and Drives Market – Geography
The APAC servo motors and drives market is expected to grow at a significant rate during the forecast period, owing to increased demand from countries such as China, Japan, and India. South Korea and Australia are emerging markets for the production and consumption of servo motors and drives. Continuous adoption of industrial automation in several countries of APAC and activities such as manufacturing, construction, power generation, and mining are significantly contributing to the growth of the servo motors and drives market in the APAC region. One of the key strategies among vendors for enhanced growth include increasing investments and expansion in emerging nations in APAC. Hence, the sale of servo motors and drives in the region is expected to further boost in the forecast period.
Servo Motors and Drives Market by Geography
Major Vendors
Other Prominent Vendors
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