ATTRACTIVE GROWTH OPPORTUNITIES IN SERVO MOTORS AND DRIVES MARKET

[212 Pages Report] The servo motors and drives market is projected to grow from USD 13.9 billion in 2020 to USD 16.8 billion by 2025; it is expected to grow at a CAGR of 4.0% from 2020 to 2025. Key factors fueling the growth of this market include the growing automation in factories, rising adoption of international standards for motor efficiency, development of user-friendly motion control libraries and packages for motors and drives, and increasing production of vehicles.

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The hardware segment accounted for the larger share of the servo motors and drives market in 2019.

Among offerings, the hardware segment accounted for the larger share of the servo motors and drives market in 2019. The growth of this segment can be attributed to the widespread use of servo motor and drive components, which together constitute the hardware segment. Rapid growth and advancements in industrial automation, along with the increasing implementation of technologies such as cloud computing, Internet of Things (IoT), and artificial intelligence (AI), have boosted the market growth for servo motors and drives. Moreover, development of low inertia and highly dynamic servo motors is further expected to drive their market globally.

Among system, the rotary segment accounted for the largest share of the servo motors and drives market in 2019.

The rotary systems segment accounted for the larger share of the servo motors and drives market in 2019. Rotary servo motors allow interaction between all the magnets and windings in all positions. This results in low installation costs of the rotary servo motor in comparison with linear servo motor. Rotary servo motors offer benefits such as high-resolution precision feedback, low energy consumption, high response, and high torque density. This makes them useful for applications in food processing, packaging, healthcare, and transportation industries. High adoption of customized rotary servo motors, which involve reasonable customization, has led to their penetration across various industries.

Based on brake technology, the permanent magnet brake technology accounted for the largest share of the servo motors and drives market in 2019.

The permanent magnet segment accounted for the largest share of the servo motors and drives market in 2019. Permanent magnet brakes are small and lightweight, resulting in large torque per size density. This has made them highly useful for applications requiring zero backlash, such as pick-and-place robots and other applications in the pharmaceuticals & healthcare industry. The increased use of permanent magnet brakes in industries such as automotive & transportation, pharmaceuticals & healthcare, textile, and packaging has propelled their market growth.  

Among communication protocols, the Fieldbus segment accounted for the largest share of the servo motors and drives market in 2019.

The Fieldbus segment accounted for the largest share of the servo motors and drives market in 2019. Fieldbus supports various network topologies, such as star, ring, daisy-chain, branch, and tree. Fieldbus benefits from reduced wiring as it communicates through a single cable, resulting in high network speed. Examples of Fieldbus protocols include INTERBUS, FOUNDATION Fieldbus, PROFIBUS, MODBUS, CC-Link, DeviceNet, and CANopen.

Based on material of construction, others segment accounted for the largest share of the servo motors and drives market in 2019.

In 2019, the others segment accounted for the largest share of the servo motors and drives market, by material of construction. The other materials used in the design and manufacturing of servo motors and drives include carbon steel and aluminum. The low cost of the servo motors and drives built using these materials has led to their market growth. Servo motors and drives constructed from non-stainless steel material have the ability to withstand dust, high-pressure washdown water jets, and corrosion prevention. This has increased the adoption of servo motors and drives with aluminum housing, which are Teflon coated and hard coat anodized,in various industries, such as packaging, food processing, pharmaceuticals & healthcare, and petrochemicals.