A new market study released by Transparency Market Research (TMR) provides insights into the market drivers, restraints, and trends in the global market for servo drives and motors for the period from 2014 to 2020. The report, titled “Servo Drives and Motors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, is available for sale on the company website.The report states that the Global Servo Drives And Motors Market will rise at a modest 5.6% CAGR from 2014 to 2020. As a result, the market, which had a valuation of US$8.38 bn in 2013, will be worth US$12.44 bn in 2020.
Servo motors are high performance electric motors having characteristics such as controlling the movement of machines. In addition, servo motors offer easy installation and no maintenance cost. Increasing electricity prices and stringent electricity utilization standards are driving the demand for energy efficient motors globally. The market of servo drives and motors is expected to grow at a slower pace in North America and Europe region. The demand for servo drives and motors is expected to rise due to the replacement of out-dated low efficient electric motors with highly efficient servo drives and motors. In addition, the strict energy consumption regulations and environment protection acts as the key factors that are driving the servo drives and motors market globally.
Growth of the servo drives and motors market is mostly associated with its uses in food processing, packaging machines, machine tools, semiconductors, and others. The surge in its application in the healthcare industry and robotics has also significantly fuelled the growth prospects of the servo drives and motors market. Some of the LEADING COMPANIES that have ventured across diverse applications of servo systems are Siemens AG (Germany), Yaskawa Electric (Japan), Baldor Electric (U.S.), Rockwell Automation (U.S.), Mitsubishi Electric Corporation (Japan), Schneider Electric (France), Fanuc (Japan), and Rockwell Automation (U.S).
Servo motors are high-performing electric motors. They are generally used to control the movement of machines. Servo drives and motors are integrated with high-force magnet materials, and precise dimensional tolerance. These systems also have advanced design methods. Integrating servo motors and drives in processes significantly reduces the operating time and saves the cost incurred in manufacturing. Additionally, servo motors are easy to install and have a low maintenance cost. All these factors have contributed to the expansion of the servo drives and motors market.
Increasing electricity prices and stringent regulations on electricity usage are driving the demand for energy-efficient motors around the world, thereby expanding the global market for servo drives and motors. The market, according to experts, has also benefited from the increased production of motor vehicles, semiconductors, healthcare products, electronics, and other motor-driven products.
This market research study analyzes the servo drives and motors market on a global level, and provides estimates in terms of revenue (USD billion) from 2014 to 2020. The report identifies the drivers and restraints affecting the market and analyzes their impact over the forecast period. In addition, it identifies the significant opportunities for market growth in the coming years.
The report provides company market share analysis of the various industry participants. KEY players have also been profiled on the basis of company overview, financial overview, business strategies and recent developments in the field of servo drives and motors. Major market participants profiled in this report include Siemens AG, Baldor Electric Company, Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Rockwell Automation Inc., Schneider Electric S.E, Emerson Electric Co., Parker Hannifin Corporation, Nidec Corporation and ABB Ltd. among others.
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