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AC Servo Motors and Drives Market Size

Report ID: GMI8245
Published Date: Feb 2024
Report Format: PDF

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AC Servo Motors and Drives Market Size

AC Servo Motors and Drives Market size was valued at USD 14.1 billion in 2023 and the industry is set to grow at CAGR of 6.9% 2032. Continuous efforts to expedite digital transformation across wide range of sectors in developing and developed economies will positively influence industry expansion. Manufacturers specializing in automation industry are proactively introducing new and enhanced products to align with evolving user requirements.

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For instance, in November 2023, Leadshine introduced the coreless micro servo system at the SPS exhibition in Germany. Consisting of an ultra-compact servo drive, micro encoder, and coreless micro motor, the system offers compact size, high and low-speed performance, and high-power density. Moreover, rapid shift towards Industry 4.0 and accelerated automation is projected to enhance the product adoption.

AC Servo Motors and Drives Market Report Attributes
Report Attribute	Details
Base Year:	2022
AC Servo Motors and Drives Market Size in 2022:	USD 14.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	6.9%
2032 Value Projection:	USD 25.9 Billion
Historical Data for:	2019 to 2022
No. of Pages:	510
Tables, Charts & Figures:	749
Segments covered:	Category, Application and Region
Growth Drivers:	Stringent energy efficiency directives by respective authorities Ongoing expansion of industrial operations and growing automotive sector Increasing momentum across energy-intensive industrial operations
Pitfalls & Challenges:	High upfront cost

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Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

AC servo motors and drives industry size was worth USD 14.1 billion in 2023 and is poised to grow at 6.9% CAGR during 2024-2032 owing to the continuous efforts to expedite digital transformation across a wide range of sectors in developing and developed economies.

The digital segment accounted for over 60% revenue share in 2023 and is anticipated to record substantial growth through 2032 owing to their growing demand to offer versatility in accommodating different motor types including standard AC induction motors, and energy-saving hybrid motors.

Asia Pacific AC servo motors and drives industry size will surpass USD 10 billion by the end of 2032 attributed to the stringent regulations aimed at improving energy efficiency & security, the rapid increase in energy consumption, and the expanding domain of industrial automation and robotics.

Some of the top AC servo motors and drive firms include ABB, Beckhoff Automation, C&M Robotics Co., Ltd., Danfoss, Delta Electronics, Inc., Fuji Electric Co., Ltd., KEB Automation KG, Kollmorgen, Mitsubishi Electric Corporation, Nidec Motor Corporation, OMRON Corporation, Panasonic Corporation of North America, PARKER HANNIFIN CORP, Rockwell Automation, Siemens, and Yaskawa America, Inc.