Servo Motors and Drives Market Analysis

The servo motors and drives market from the AC drive segment will register over 7% gains during 2023 to 2032. AC drive units successfully manage large current surges, raised torque, high operating speeds, and steady & fewer noise functions, among other considerations. These features will influence product adoption, generating demand for AC drives.
 

New product launches with a focus on quality enhancement are expected to promote industry development in the coming years. For instance, in February 2021, Trio Motion Technology, an Estun Group member, launched a new servo drive and motor combination, DX4 servo drive and MX. The drive operates at 200V AC and its power extends from 50W to 3kW.
 

Servo motors and drives market from the robotics application is slated to exhibit a CAGR of 8% during the forecast timeline. The use of automation can improve production quality and output time while minimizing risks in industrial operations. Automation systems often include robots that incorporate servo motors and drives to increase their operational flexibility through precise angular movements. To support this shift, companies in the industrial automation space are launching new robotic solutions. In January 2023, Celera Motion launched the world’s smallest servo drive named the Denali Series which will be employed across a range of robots like surgical robots, industrial grippers, service robots, and more.
 

North America servo motors and drives market size dominated around USD 4 billion in 2022. Factors such as strict regulations to improve energy efficiency and security, quickly rising energy consumption, and expanding industrial automation and robotics will propel the regional market revenue.
 

In June 2022, the U.S. Energy Information Administration (EIA) stated that the industrial sector's overall energy consumption in 2021 was 25.9 quadrillion British thermal units (Btu), or over 35.2% of the nation's total energy consumption. Rising energy prices combined with continuous plans for reducing production costs, raising profits, and accelerating technological advancements will the industry deployment.