Global servo drives market: $10.4 billion industry by 2018

Press Release   •   Jul 02, 2013 14:35 BST

The global servo drives market is suggested to have reached a volume total of around 12.2 million units by the end of 2012, and is forecast to grow to 17.2 million units by 2018. This suggests a CAGR growth rate of 6% between 2013 and 2018. By 2018 the industry is expected to have reached a value of $10.4 billion.The key categories in the global servo drives market include AC servo and Linear. Asia is the leading region in the global industry, while Europe is not far behind in terms of unit sales. China is the leading country, with the United States and Germany close behind. These three counties account for over 31% of the global servo drives market.

Increasing automation market, falling servo motors prices & technological improvements are the major drivers for the servo drives market. Most of the major economies such as China, the U.S. and Germany are using servo motors and drives on high level. No wonder most of the industry experts opined that the servo motors and drives will grow with a high growth rate in coming 5-6 years. As compared to competing technologies such as stepper, future market will rely on systems like servo to cherish the market opportunities because of its accuracy and speed.

In terms of servo motors product types, AC servo motors will lead the market as compared to other product types such as DC Brushed, DC Brushless products. Lighter machines, reduction in size, increased speed, and high torque represent technical growth. Price reductions have grabbed manufacturer's attention on various subjects such as production techniques, advanced design, and production time.

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