Product Code: PM3406
The global servo motors and drives market size is expected to reach USD 26.54 billion by 2032, according to a new study by Polaris Market Research. The report "Servo Motors and Drives Market Share, Size, Trends, Industry Analysis Report, By System Type (Linear and Rotary); By Voltage; By Application; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Extensive growth and high technological advancements in the field of automation and surging adoption of international energy-efficient standards coupled with the high penetration for replacing outdated low-efficient electric motors with innovated efficient servo motors, are prominent factors influencing the market growth.
Moreover, introduction to several advanced tools and services by major market players to boost the production output, while reducing the operational costs and less energy consumption, are further likely to create lucrative growth opportunities for the market. For instance, in November 2022, Inovance Technology, introduced its range of new products for the European market that includes the high-performance Easy Series PLC, GL20 I/O modules, AC703 IPC motion controllers, and SV670 servo series. The company also offered a preview of its servo drive with advanced safety functions.
With a significant number of businesses that are constantly focusing on replacing traditional motors with servo motors specially to simplify their operations and enhance the overall output and rapidly emerging trend of industry 4.0, have gained significant traction. Additionally, the rapidly increasing usage of industrial robots in assemble, pick-up, and several manufacturing applications across sectors including automotive, electrical/electronics, metal, and machinery is resulting in high deployment of servo motors globally.
Apart from this, servo motors and drives can easily deal with continuously changing voltage that makes it's a preferable choice for machine tools, CNC machines, printing machines, food processing machines, home appliances, off-road vehicles, and aircraft parts, are gaining traction and being adopted at rapid pace all over the world.
Servo Motors and Drives Market Report Highlights
Rotary segment is projected to hold substantial market revenue share over the projected period, owing to its ability to provide numerous advantages like low energy consumption and high torque density
Low voltage segment is anticipated to grow at a high CAGR during the projected period, which is mainly driven by its less maintenance and setup costs and high reliability
Semiconductor & electronics segment accounted for largest market share in 2022, mainly due to widespread adoption of electronic devices and growing technological innovations
Asia Pacific region dominated the global market in 2022 with maximum share, owing to growing industrialization and high prevalence of various government initiatives across the region
The global key market players include: Rozum Robotics, Nidec Motor Corporation, Schneider Electric, Rockwell Automation, Parker Hannifin Corporation and others.
Polaris Market Research has segmented the servo motors and drives market report based on system type, voltage application, and region:
Servo Motors and Drives, System Type Outlook (Revenue - USD Billion, 2019 - 2032)
Servo Motors and Drives, Voltage Outlook (Revenue - USD Billion, 2019 - 2032)
- Low Voltage
- Medium Voltage
- High Voltage
Servo Motors and Drives, Application Outlook (Revenue - USD Billion, 2019 - 2032)
- Automotive & Transportation
- Semiconductor & Electronics
- Food Processing
- Textile
- Petrochemical
- Pharmaceutical and Healthcare
- Packaging
- Robotics
- Printing & Paper
- Others
Servo Motors and Drives, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Servo Motors and Drives Market Insights
- 4.1. Servo Motors and Drives Market - Voltage Snapshot
- 4.2. Servo Motors and Drives Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rapid Industrialization Across the Emerging Economies
- 4.2.1.2. Growing Regulations Regarding Energy Efficiency
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Presence of Substitute Products
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Servo Motors and Drives Market Voltage Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Servo Motors and Drives Market, by System Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 5.3. Linear
- 5.3.1. Global Servo Motors and Drives Market, by Linear, by Region, 2019-2032 (USD Billion)
- 5.4. Rotary
- 5.4.1. Global Servo Motors and Drives Market, by Rotary, by Region, 2019-2032 (USD Billion)
6. Global Servo Motors and Drives Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 6.3. Automotive & Transportation
- 6.3.1. Global Servo Motors and Drives Market, by Automotive & Transportation, by Region, 2019-2032 (USD Billion)
- 6.4. Semiconductor & Electronics
- 6.4.1. Global Servo Motors and Drives Market, by Semiconductor & Electronics, by Region, 2019-2032 (USD Billion)
- 6.5. Food Processing
- 6.5.1. Global Servo Motors and Drives Market, by Food Processing, by Region, 2019-2032 (USD Billion)
- 6.6. Textile
- 6.6.1. Global Servo Motors and Drives Market, by Textile, by Region, 2019-2032 (USD Billion)
- 6.7. Petrochemical
- 6.7.1. Global Servo Motors and Drives Market, by Petrochemical, by Region, 2019-2032 (USD Billion)
- 6.8. Pharmaceutical and Healthcare
- 6.8.1. Global Servo Motors and Drives Market, by Pharmaceutical and Healthcare, by Region, 2019-2032 (USD Billion)
- 6.9. Packaging
- 6.9.1. Global Servo Motors and Drives Market, by Packaging, by Region, 2019-2032 (USD Billion)
- 6.10. Robotics
- 6.10.1. Global Servo Motors and Drives Market, by Robotics, by Region, 2019-2032 (USD Billion)
- 6.11. Printing & Paper
- 6.11.1. Global Servo Motors and Drives Market, by Printing & Paper, by Region, 2019-2032 (USD Billion)
- 6.12. Others
- 6.12.1. Global Servo Motors and Drives Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Servo Motors and Drives Market, by Voltage
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 7.3. Low Voltage
- 7.3.1. Global Servo Motors and Drives Market, by Low Voltage, By Region, 2019-2032 (USD Billion)
- 7.4. Medium Voltage
- 7.4.1. Global Servo Motors and Drives Market, by Medium Voltage, By Region, 2019-2032 (USD Billion)
- 7.5. High Voltage
- 7.5.1. Global Servo Motors and Drives Market, by High Voltage, By Region, 2019-2032 (USD Billion)
8. Global Servo Motors and Drives Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Servo Motors and Drives Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3. Servo Motors and Drives Market - North America
- 8.3.1. North America: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.3.2. North America: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.3.3. North America: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.3.4. Servo Motors and Drives Market - U.S.
- 8.3.4.1. U.S.: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.3.4.2. U.S.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.3.4.3. U.S.: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.3.5. Servo Motors and Drives Market - Canada
- 8.3.5.1. Canada: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.3.5.2. Canada.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.3.5.3. Canada: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.4. Servo Motors and Drives Market - Europe
- 8.4.1. Europe: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.4.2. Europe.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.4.3. Europe: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.4.4. Servo Motors and Drives Market - UK
- 8.4.4.1. UK: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.4.4.2. UK.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.4.4.3. UK: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.4.5. Servo Motors and Drives Market - France
- 8.4.5.1. France: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.4.5.2. France.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.4.5.3. France: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.4.6. Servo Motors and Drives Market - Germany
- 8.4.6.1. Germany: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.4.6.2. Germany.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.4.6.3. Germany: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.4.7. Servo Motors and Drives Market - Italy
- 8.4.7.1. Italy: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.4.7.2. Italy.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.4.7.3. Italy: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.4.8. Servo Motors and Drives Market - Spain
- 8.4.8.1. Spain: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.4.8.2. Spain.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.4.8.3. Spain: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.4.9. Servo Motors and Drives Market - Netherlands
- 8.4.9.1. Netherlands: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.4.9.2. Netherlands.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.4.9.3. Netherlands: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.4.10. Servo Motors and Drives Market - Russia
- 8.4.10.1. Russia: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.4.10.2. Russia.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.4.10.3. Russia: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.5. Servo Motors and Drives Market - Asia Pacific
- 8.5.1. Asia Pacific: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.5.2. Asia Pacific.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.5.3. Asia Pacific: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.5.4. Servo Motors and Drives Market - China
- 8.5.4.1. China: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.5.4.2. China.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.5.4.3. China: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.5.5. Servo Motors and Drives Market - India
- 8.5.5.1. India: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.5.5.2. India.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.5.5.3. India: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.5.6. Servo Motors and Drives Market - Malaysia
- 8.5.6.1. Malaysia: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.5.6.2. Malaysia.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.5.6.3. Malaysia: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.5.7. Servo Motors and Drives Market - Japan
- 8.5.7.1. Japan: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.5.7.2. Japan.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.5.7.3. Japan: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.5.8. Servo Motors and Drives Market - Indonesia
- 8.5.8.1. Indonesia: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.5.8.2. Indonesia.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.5.8.3. Indonesia: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.5.9. Servo Motors and Drives Market - South Korea
- 8.5.9.1. South Korea: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.5.9.2. South Korea.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.5.9.3. South Korea: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.6. Servo Motors and Drives Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.6.2. Middle East & Africa.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.6.3. Middle East & Africa: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.6.4. Servo Motors and Drives Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.6.4.3. Saudi Arabia: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.6.5. Servo Motors and Drives Market - UAE
- 8.6.5.1. UAE: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.6.5.2. UAE.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.6.5.3. UAE: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.6.6. Servo Motors and Drives Market - Israel
- 8.6.6.1. Israel: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.6.6.2. Israel.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.6.6.3. Israel: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.6.7. Servo Motors and Drives Market - South Africa
- 8.6.7.1. South Africa: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.6.7.2. South Africa.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.6.7.3. South Africa: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.7. Servo Motors and Drives Market - Latin America
- 8.7.1. Latin America: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.7.2. Latin America.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.7.3. Latin America: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.7.4. Servo Motors and Drives Market - Mexico
- 8.7.4.1. Mexico: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.7.4.2. Mexico.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.7.4.3. Mexico: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.7.5. Servo Motors and Drives Market - Brazil
- 8.7.5.1. Brazil: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.7.5.2. Brazil.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.7.5.3. Brazil: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
- 8.7.6. Servo Motors and Drives Market - Argentina
- 8.7.6.1. Argentina: Servo Motors and Drives Market, by System Type, 2019-2032 (USD Billion)
- 8.7.6.2. Argentina.: Servo Motors and Drives Market, by Voltage, 2019-2032 (USD Billion)
- 8.7.6.3. Argentina: Servo Motors and Drives Market, by Application, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Yaskawa Electric
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Mitsubishi Japan
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Siemens
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Rockwell Automation
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Delta Electronics
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Kollmorgen Corporation
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Parker Hannifin Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Omron Corporation
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. SEW Eurodrive
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Rozum Robotics
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. ADTECH Technology
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Fuji Electric
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. Schneider Electric
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. Nidec Motor Corporation
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. Hitachi Ltd.
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development
- 10.16. Fanuc Corporation
- 10.16.1. Company Overview
- 10.16.2. Financial Performance
- 10.16.3. Product Benchmarking
- 10.16.4. Recent Development
- 10.17. ABB
- 10.17.1. Company Overview
- 10.17.2. Financial Performance
- 10.17.3. Product Benchmarking
- 10.17.4. Recent Development
- 10.18. Applied Motor Products
- 10.18.1. Company Overview
- 10.18.2. Financial Performance
- 10.18.3. Product Benchmarking
- 10.18.4. Recent Development
- 10.19. Nippon Pulse America Inc
- 10.19.1. Company Overview
- 10.19.2. Financial Performance
- 10.19.3. Product Benchmarking
- 10.19.4. Recent Development