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Digital Servo Motors and Drives Market Trends

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

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Digital Servo Motors and Drives Market Trends

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.

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.