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AC Servo Motors and Drives Market Trends

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

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AC Servo Motors and Drives Market Trends

The AC servo motors and drives industry is set to grow owing to ongoing technological advancements in industrial automation along with government mandates for environmental sustainability. The rise of smart manufacturing across industrial automation sector is gaining traction. For instance, programs like Udyog Bharat 4.0 SAMARTH focus on promoting Industry 4.0 awareness in Indian manufacturing and addressing challenges related to automated material handling. Increased emphasis on technological advancements and the integration of the industrial internet of things (IIoT) to optimize system sizing and improving energy efficiency will boost the industry expansion.

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.