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Digital Servo Motors and Drives Market was valued at USD 8 billion in 2022 and is estimated to expand at 6.8% CAGR between 2023 and 2032. Driven by the increasing need for energy-efficient systems coupled with the implementation of strict regulations addressing energy consumption. Accelerated investments in infrastructure development have increased the demand for HVAC systems, which provide solutions to optimize energy output in infrastructure. Key factors including the capability of these systems to deliver precise motor speed control, contributing to energy savings, enhanced process control, and automation will positively influence the industry growth.
The ongoing efforts to accelerate digital transformation in various sectors across developed and emerging economies, will favor the digital servo motors and drives market expansion. The swift transition toward Industry 4.0 and increased automation is expected to boost the deployment of servo motors and drives. Companies specializing in the automation sector are actively introducing innovative products and services to meet evolving user requirements. In addition, the widespread adoption of advanced motor control systems, enabling precise and rapid industrial operations, is set to further fuel the product demand.
Report Attribute | Details |
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Base Year: | 2022 |
Digital Servo Motors and Drives Market Size in 2022: | USD 8 Billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 6.8% |
2032 Value Projection: | USD 15.4 Billion |
Historical Data for: | 2019 to 2022 |
No. of Pages: | 540 |
Tables, Charts & Figures: | 748 |
Segments covered: | Drive, Application, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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The market size experienced substantial effects from the COVID-19 pandemic, owing to disruptions in manufacturing processes, labor shortages, facility shutdowns, constrained product deployments, and disturbances in the supply chain network. However, concerted efforts by government authorities and companies to implement new measures for easing restrictions and ensuring uninterrupted manufacturing output have contributed to a more positive outlook for the industry's growth.
The digital servo motors and drives industry is slated to observe significant momentum owing to continuous technological advancements across industrial automation along with stringent government mandates aimed at promoting environmental sustainability. Growing interest in the concept of smart manufacturing, particularly gaining traction in expansive industrial automation sectors. for instance, as per the India Brand Equity Foundation (IBEF), the Indian Government has set an ambitious target to increase the contribution of manufacturing output to GDP from the current 16% to 25% by 2025.
The increasing need for high effective and efficient motor control solutions across variety of industries, combined with the growing automotive industry, is set to propel the product demand. Moreover, the ongoing industrialization in developing nations and elevated demand for precise motor control across variety of industrial applications, will significantly influence market dynamics.
The AC drives market is predicted to witness about 7% growth rate through 2032 and will gain significant expansion owing to enhanced operational capabilities under full load and variable load conditions along with increased demand for advanced technological systems. The adoption of these units is driven by their operational features, which lead to increased energy efficiency, minimized mechanical stress on motors and equipment, smoother start & stop processes, and enhanced control over several industrial processes. Moreover, the versatility of these units, accommodating various motor types like dynamic linear motors, standard AC induction motors, and energy-saving hybrid motors, will significantly contribute to their widespread adoption and increased machine output across diverse applications.
The digital servo motors and drives market in robotics applications is set to grow owing to the increased industrial investments and expenditure for their development along with accelerated R&D initiatives in automotive industry. The integration of automation plays a pivotal role in enhancing production quality and reducing output time, thereby mitigating risks in industrial operations. Robotic systems within automation frequently control servo motors and drives to enhance operational flexibility through accurate angular movements.
Modern warehouses are increasingly integrating lifting machines and robots for the secure and efficient handling of goods, ranging from lightweight to heavy items, at various speeds. These units play a pivotal role across automated warehouse systems, including conveyors, shuttles, and palletizers, servo motors and drives further augmenting the product demand. They are instrumental in precisely controlling the timing of product delivery and storage within a secure environment. In the warehouse industry, collaborations between warehouse companies and technology firms are fostering the adoption of advanced machinery, often driven by servo motors, to further optimize operational processes.
Prominent manufacturers operating in the digital servo motors and drives industry are strategically enhancing their industry foothold through proactive engagement in strategic partnerships, alliances, and mergers and acquisitions. These initiatives are targeted at the introduction of advanced technologies are driving the industry growth. Key industry players are:
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Market, By Drive
Market, By Application
The above information has been provided for the following regions and countries: