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Digital Servo Motors and Drives Market Size

Report ID: GMI7544
Published Date: Nov 2023
Report Format: PDF

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Digital Servo Motors and Drives Market Size

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.

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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.

Digital Servo Motors and Drives Market Report Attributes
Report Attribute	Details
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:	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, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of digital servo motors and drives was reached USD 8 billion in 2022 and is projected to observe 6.8% CAGR through 2032, owing to the rising need for energy-efficient systems coupled with the higher implementation of strict regulations addressing energy consumption.

Digital servo motors and drives market from the AC drives segment is poised to witness about 7% growth rate from 2023 to 2032, driven by their enhanced operational capabilities under both full load and variable load conditions along with increased demand for advanced technological systems.

Asia Pacific market for digital servo motors and drives was worth USD 3.2 billion in 2022 and is poised to exhibit a robust growth rate through 2032, attributed to the stringent regulations aimed at enhancing energy efficiency & security and rapid growth in energy consumption.

Some leading digital servo motors and drives companies are Siemens, Sprint Electric, Hitachi Ltd., Schneider Electric, Emerson Electric Co., ABB, Mitsubishi Electric Corporation, Rockwell Automation, Danfoss, Bosch Rexroth Corporation, and Delta Electronics, Inc.