Servo Drive Market Size By Drive (AC, DC), Category (Digital, Analog), Voltage (Low, Medium), 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, 2020–2026

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.
 

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.
 

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.
 

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.
 

Servo Drive Market Share

There is a high level of forward distribution predominant between manufacturers & installers that along with suppliers deliver the finished servo drives to the installers, who further provide after-sales services to the end consumers. The key industry participants are majorly focusing toward backward integration with an aim to maintain quality standards and increase their market share.
 

Eminent players in the servo drive industry include :

• Danfoss
• Siemens
• Schneider Electric
• Mitsubishi Electric Corporation
• Rockwell Automation
• Yaskawa Electric Corporation
• Estun Automation
• Fuji Electric
• Hitachi
• ABB
• Toshiba Corporation
• Bosch Rexroth AG
• Hiconics Eco-energy Technology
• Delta Electronics
• Kinco Automation 
   

Servo drive market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2015 to 2026, for the following segments:

Click here to Buy Section of this Report

By Drive

• AC
• DC

By Category

• Digital
• Analog

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

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Norway
  • Sweden
  • Denmark
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Thailand
  • Malaysia
  • Philippines
  • Indonesia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Jordan
  • Iran
  • South Africa
  • Nigeria
  • Egypt
  • Algeria
• Latin America
  • Brazil
  • Argentina
  • Chile