Servo Drive Market Analysis

Servo Drive Market Analysis

Wide applicability of DC servo amplifiers across small to moderate level applications requiring low to medium power output will complement the market share. The ability to provide up to 90% efficiency at lighter loads will favor the large-scale commercialization of these units. In addition, surging demand for continuous power supply for short durations in case of an emergency or blackout will boost the product penetration.
 

Furthermore, enhanced programming software integrated within these drives comprising of AI and IoT technologies is set to stimulate the servo drive industry statistics.
 

AC servo drive market is set to register over 6% CAGR through 2026.The ability to handle high current surges and function independently from a power source along with simple operations when compared to the available alternatives will favor the market trends. Moreover, increased implementation of these products driven by their requirement in heavy-duty applications comprising of automation and robotics will escalate the product demand.
 

Digital servo drive industry analysis showcased a substantial increase in revenue of over USD 300 million from 2018 to 2019. Digital units are anticipated to grow owing to rising consumer preference toward systems facilitating faster control response and increased holding power. The ability to provide voltage pulses to motor at comparatively higher frequency thus enabling faster motor response to commands will augment the product demand.
 

In addition, the inclusion of microprocessor that uses algorithms for analyzing incoming signals while predicting the system conditions, in turn enabling smoother acceleration and deceleration controls will complement the business outlook.
 

Favorable government policies with an overarching aim of achieving energy efficiency coupled with significant upgradations in conventional machinery across small to medium businesses will boost the low voltage servo drive market share. For instance, the EU energy efficiency directive, mandates its member states to form national energy efficiency targets for achieving 32.5% reduction in overall energy consumption by 2030.
 

The implementation of such policies will fuel the increased adoption of these energy efficient units for applications requiring low voltage, in turn strengthening the product penetration.
 

Surging adoption of Oil & Gas exploration projects by emerging economies in conjunction with improved machinery is set to drive the implementation of servo amplifiers in oil field service. These units are deployed across O&G sector in pumps, conveyors, extruders, metering, centrifuges, mixers and blowers thereby sufficing for any possible human error. The ability to operate in compressed oil and at greater depth of up to 3 kilometers will further augment the servo drive market share.
 

COVID-19 virus outbreak has resulted in stalled industry operations following the restriction on labor movement thereby, catalyzing the urgency to opt for automations in manufacturing industry operations.
 

Growing efforts to utilize maximum functionality of electrical units along with their increased productivity and product life span will magnify the servo drives demand in the semiconductor machinery. These products also find their application in several wafer manufacturing processing systems for low-cost product solutions which generate higher performance.
 

Germany servo drive market value surpassed USD 300 million in 2019 on account of advance mechanization and engineering environment in the nation. As per World Economic Forum, in 2018, Germany ranked 1^st in developing newer technologies and annually spends around 2.9% share of its GDP on R&D activities.
 

Rising implementation of technically advanced systems that are capable of amplifying the operational feasibility is set to augment the market scenario. The shifting industry focus toward digitalization owing to advent of Industrial Revolution 4.0 along with the need for precise motion control will stimulate the market size.