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Servo Motors and Drives Global Market Report 2022

·4-min read
ReportLinker
ReportLinker

Major players in the servo motors and drives market are Siemens, Mitsubishi, Schneider Electric, ABB, Fuji Electric, Yaskawa, Emerson Electric, Rockwell Automation, Estun automation, Kinco Automation, Danfoss, ESR Pollmeier, Heason, Elmo Motion Control, KEB Automation, Allen Bradley, and Omron Corporation.

New York, June 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Servo Motors and Drives Global Market Report 2022" - https://www.reportlinker.com/p06285606/?utm_source=GNW


The global servo motors and drives market is expected to grow from $13.29 billion in 2021 to $14.12 billion in 2022 at a compound annual growth rate (CAGR) of 6.21%. The market is expected to grow to $20.38 billion in 2026 at a CAGR of 9.61%.

The servo motors and drives market consists of sales of servo motors and drives and related servies by entities (organizations, sole traders, and partnerships) that manufacture servo motors and drives.Servo motors or linear or rotary actuators that help enable control of linear and angular acceleration, positioning, and velocity, made in brush and brushless types.

Servo drives are also called servo amplifiers; these devices have the ability to take a low power command signal from a motion controller and turn it into high power current/voltage. Servo motors and drives are most commonly utilized in the manufacturing industry for production line robots that help create cars and airplanes that need high repetition yet precise welding, drilling, fastening, sealing, dispensing, and rigid manufacturing.

The main types of servo motors and drives are motor and drive.Motors are rotary or linear actuators that allow control of both linear as well as angular acceleration, velocity, and positioning.

They are available in both brush and brushless types, however brushless is today’s preferred version.Servo motors have different voltage ranges that include low-voltage and medium-voltage.

The various end users are automotive, oil and gas, healthcare, packaging, semiconductor and electronics, and chemicals and petrochemicals. The market has two types of offerings: hardware and software.

Asia Pacific was the largest region in the servo motors and drivers market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Rising automation is expected to propel the growth of the servo motors and drives market.Servo motors and drives are components of automation systems such as robots, conveyor systems, and others in factories.

For instance, in 2021, a survey of 250 UK manufacturing companies conducted by ABB Robotics found a change in attitudes towards automation in the country, with 81.2% of companies saying they are considering an investment in robots because of the pandemic. Robots are seen as a potential solution – 48.8% of respondents said they were likely to invest in automation in the next five years, and 50.4% said robots would help them comply with social distancing requirements. Furthermore, in 2019, in Russia, enterprises spent more than $1.5 billion to integrate automation into their projects, which helped robotic automation to grow at a massive rate of 60%. Therefore, rising automation is driving the servo motors and drives market.

Technological advancement is a key trend in the servo motors and drives market.Technological advancements help with the development of the design of the product as well as simplify motion control.

For instance, in March 2019, Siemens introduced the new Sinamics S210 Servo Drive System that can be used for simplifying motion control.The new sinamics S210 servo drive system is specifically designed to work with Simotics S-1FK2 motors.

This new system is employed in various applications such packaging machines, handling applications like pick-and-place, wood, and plastics processing.

In June 2019, Mitsubishi Electric Corporation, Japan-based, electronics, and electrical equipment manufacturing company, acquired an equity stake in Akribis Systems Pte Ltd, a manufacturer of linear servo motors and linear stages, for an undisclosed amount.Through this transaction, Mitsubishi is expected to strengthen its industrial automation solutions for the global market.

Akribis Systems is based in Singapore and was founded in 2004.

The countries covered in the Servo Motors and Drives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.


Read the full report: https://www.reportlinker.com/p06285606/?utm_source=GNW

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