Servo Drive Market Size By Category (Digital, Analog), By Drive (AC, DC), By Voltage (Low, Medium), By Application (Oil & Gas, Metal Cutting, Metal Forming, Material Handling Equipment, Packaging and Labeling, Robotics, Rubber & Plastics Machinery, Semiconductor Machinery, Other Industries), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019–2025
Published Date: Jul 2019 | Report ID: GMI4204 | Authors: Ankit Gupta, Anukriti Sah
Servo Drive Market size was valued over USD 6.5 billion in 2018 and the annual installation is set to exceed 26 million units by 2025.
Get more details on this report - Request Free Sample PDF
Significant growth in the development of automation coupled with rising growth in the adoption of energy efficient standards imposed by regulatory authorities will drive the demand for servo drives market. Advent of industrial automation along with enhanced adoption across industry verticals including metal cutting, semiconductor machinery, oil & gas, packaging and metal forming industries will further accelerate the adoption of servo amplifiers, thereby stimulating the industry growth.
Increasing industrialization across emerging economies along with rising investments toward the development of infrastructure will boost the servo drive market growth. Increasing accuracy of the motor system with high-speed operation leading to enhanced usage of servo amplifier will stimulate the product demand. In addition, technological advancements along with government funds & incentives supporting the operational upgrade are few indispensable parameters propelling the industry scenario.
|Base Year:||2018||Market Size in 2018:||6.5 Billion (USD)|
|Historical Data for:||2014 to 2018||Forecast Period:||2019 to 2025|
|Forecast Period 2019 to 2025 CAGR:||6%||2025 Value Projection:||10 Billion (USD)|
|Pages:||480||Tables, Charts & Figures:||827|
|Geographies covered (33):||U.S., Canada, Mexico, UK, Germany, France, Italy, Spain, Russia, Norway, Sweden, Denmark, China, Japan, India, Australia, South Korea, Thailand, Malaysia, Philippines, Indonesia, Saudi Arabia, UAE, Qatar, Jordan, Iran, South Africa, Nigeria, Egypt, Algeria, Brazil, Chile, Argentina|
|Segments covered:||Category, Drive, Voltage, Application and Region|
|Companies covered (15):||Siemens, Mitsubishi Electric Corporation, Schneider Electric, Rockwell Automation, Fuji Electric Co. Ltd., Yaskawa Electric Corporation, ABB Limited, Bosch Rexroth AG, Toshiba Corporation, Hiconics Eco-energy Technology Co. Ltd, Hitachi, Delta Electronics, Inc., Estun Automation, Kinco Automation Pvt. Ltd., Danfoss|
|Pitfalls & Challenges:||
Servo Drive Market, By Category
Digital servo drive was valued at over USD 3.5 billion in 2018. Digital servo drives will witness growth on account of faster control response, increased acceleration, increased holding power and constant torque throughout the servo travel as compared to its conventional counterpart. These drives have a microprocessor that uses algorithms to predict system conditions and analyzes the incoming signals while controlling the mechanism.
Analog servo drives will grow on account of its ability to consume minimal energy as compared to digital drives. These drives do not need a torque amplifier and offer uniformity with minimal jitter at standstills. These drives receive ± 10-volt of analog signals from the controller and change these to current commands.
Servo Drive Market, By Drive Technology
AC servo drive market is anticipated to witness grow of over 6% by 2025. Ability of AC drives to handle high current surges along with their increased adoption in heavy-duty applications consisting those in industrial machinery will drive the product demand. Furthermore, growing need for high energy efficiency along with the ability to be controlled over a network are the key imperatives propelling the business outlook.
Increased adoption of DC servo drive for small and mid-level applications requiring low and moderate power output will stimulate the demand for DC servo drive market. DC drives are less expensive and complicated as compared to their AC counterparts and have the ability to possess easy installation and enhanced programming software, thereby stimulating the industry growth.
Servo Drive Market, By Voltage
Stringent government initiatives toward energy efficiency along with significant advancement in existing technologies across small & medium enterprises will drive the demand for low voltage servo drive industry. Furthermore, rising adoption of low voltage units on account of their compact size across various industry verticals and small-scale utilities will further enhance the product penetration.
Medium voltage servo drive industry will witness growth on account of their wide usability across diverse industrial establishments. Rising fund allocation coupled with shifting regulatory focus toward the upgradation of existing units across developing nations will further fuel the industry dynamics.
Servo Drive Market, By Application
Enhanced adoption of high-end technology drives to explore the untapped potential areas by oil field service companies will positively drive the demand for servo drives market. According to the North American Industry Classification System, the revenue generated across oil field services in 2016 crossed over USD 125 billion.
Growing efforts to maximize functionality of electronic component along with measures to enhance energy efficiency, lower energy consumption and increase productivity will stimulate the demand for servo drives in the semiconductor machinery. These drives find usage in various wafer processing equipment including Chemical Mechanical Planarization machines for higher precision and cooperative motion control, thereby fueling the market growth.
Servo Drive Market, By Region
Europe Servo Drive market size, by country, 2025 (USD Million)
Get more details on this report - Request Free Sample PDF
Germany market was valued over USD 250 million in 2018. Paradigm shift toward adoption of technically advanced equipment that are capable of enhancing the operational feasibility will augment the industry scenario. Ability of servo drives to possess excellent power to size relation along with allowance of extremely dynamic and precise motion control will stimulate the business outlook.
Booming electronics sector in emerging countries including China and India along with efforts to strengthen the automation & robotics sector will drive the Asia Pacific servo drive market. For instance, the Government of China in April 2016, unveiled the Robotics Industry Development Plan for the period of 2016 to 2020 and guaranteed the development of the industrial robotics industry for the nation.
Competitive Market Share
Key industry participants across the servo drive market include Siemens, Schneider Electric, Rockwell Automation, Honeywell International, Toshiba, Bosch Rexroth, Emerson Electric, Fuji Electric, Yaskawa Electric Corporation and Estun Automation amongst others.
Increased product development and research & development activities will increase opportunities for the industry participants to gain competitive advantage and thus develop automated and advanced products, thereby enhancing the business dynamics.
Servo Drive Industry Background
Servo drive is defined as an electronic amplifier that receives a command signal from a control system in order to power electric servomechanisms. Typically, the command signal signifies a desired torque or velocity. A sensor is attached to the servo motor that is responsible for reporting the actual status of the motor back to the servo drive. The servo device converts low-energy command signals into high-energy current and voltage delivered to a servo motor.
Why Global Market Insights, Inc.?
- GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.
Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.