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.
The growth of servo drives and motors market is primarily attributed to positive economic outlook and growing manufacturing industries in India, China, South Korea, Indonesia, Japan and several other countries in Asia-Pacific region. The increasing demand for energy efficient motors causes the shift from standard energy efficient electric motors to premium energy efficiency motors. This shift in trend is directly contributing to revenue growth of servo drives and motors manufacturers.
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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 2024. 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 segments the market on the basis of geography as North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue (USD billion). Moreover, the report segments the market based on types as servo drives and servo motors. The market has been further segmented based on different types of servo drives such as AC servo drives, DC servo drives and adjustable speed. Servo motors are further segmented into AC servo motors, DC brushless, brushed DC and linear servo motors.
Furthermore, the market is segmented on the basis of application which includes automotive, semiconductor and electronics, material handling, food processing, healthcare and others. Among all the application segments, automotive segment holds the largest market share at present in the servo drives and motors market. All these segments have also been estimated on the basis of geography in terms of revenue (USD billion).
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Asia Pacific represents the largest market for servo drives and motors. In 2014, Asia Pacific accounted for more than 40% revenue share in the global servo drives and motors market. The region is expected to be the fastest growing region due to significant growth in GDP of countries such as India, South Korea, China, Singapore, Taiwan and several others. In addition, positive growth prospects in GDP of these countries will help the region to remain market leader in servo drives and motors in coming few years.
For better understanding of servo drives and motors market, we have given a detailed analysis of the supply chain. In addition, a detailed Porter’s five forces analysis has been given for a better understanding of the intensity of the competition present in the market. Furthermore, the study comprises a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness.
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.
1.1 Market segmentation
The servo drives and motors market is segmented as below:
Servo Drives and Motors Market: by Type
- Servo drives
- AC servo drives
- DC servo drives
- Adjustable speed
- Servo motors
- AC servo motors
- DC brushless
- Brushed DC
- Linear servo motors
Servo Drives and Motors Market: by Application
- Automotive
- Semiconductor and electronics
- Material handling
- Food processing
- Healthcare
- Others
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