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Servo Drive Market Size

  • Report ID: GMI4204
  • Published Date: Aug 2020
  • Report Format: PDF
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Servo Drive Market Size

Servo Drive Market size was valued at over USD 7 billion in 2019 and yearly installation is anticipated to exceed 19 million units by 2026. Enhanced specifications including AI integration and faster response time when compared to the conventional units in line with industry automation will stimulate the product adoption over the forecasted timeframe.

 

Servo Drive Market
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Shifting government focus toward achieving digitalization across developing and developed nations coupled with surging investments for infrastructural development will enhance the market scenario. Elevated industry preference to achieve precise and high-speed operation of the motor system is set to enhance the usage of servo amplifiers. Further, technical product upgradations along with government tax rebates policies centered at reinforcing the operational updates will fuel the market growth.
 

Servo Drive Market Report Attributes
Report Attribute Details
Base Year:2019
Servo Drive Market Size in 2019:7.3 Billion (USD)
Forecast Period:2020 to 2026
Forecast Period 2020 to 2026 CAGR:5.7%
2026 Value Projection:9.1 Billion (USD)
Historical Data for:2015 to 2019
No. of Pages:485
Tables, Charts & Figures:830
Segments covered:Drive, Category, Voltage, Application
Growth Drivers:
  • Stringent energy efficiency norms
  • Flourishing automotive sector
  • Positive outlook toward energy intensive industries
Pitfalls & Challenges:
  • High implementation cost
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The COVID-19 outspread has resulted in halted industry operations on account of curfews and lockdown being imposed across several nations. The outbreak was declared as a pandemic and a global health threat by WHO in March 2020, after which majority of the nations restricted public movement. Further, implementation of work from home regime along with restriction on movement of labors has resulted in surging demand for industry automation which will positively impact the market outlook.

Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

As per estimates, servo drive industry would account a crcr of 5.7% through 2026.

Predicted revenue share of servo drive market is $9.1 billion by 2026.

These products will gain substantial popularity in Germany, owing to the presence of an advanced engineering & mechanized environment in the country. Germany market held USD 300 million in 2019.

Digital products will depict considerable popularity, driven by changing consumer preference toward systems that have more holding power and faster control response. Digital segment exhibited an increase of USD 300 million in valuation between 2018 & 2019.

AC servo drive market may record more than 6% CAGR through 2026, driven by the product’s simple operations, its ability to function independently, and to handle high current surges.

Enhanced specifications such as faster response times and AI integration as opposed to conventional units will push the demand for servo drives. The market size may surpass 19 million units by 2026 in terms of annual installations.

Servo Drive Market Scope

  • Servo Drive Market Size
  • Servo Drive Market Analysis
  • Servo Drive Market Share

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    • Base Year: 2019
    • Companies covered: 15
    • Tables & Figures: 830
    • Countries covered: 33
    • Pages: 485
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