PUBLISHER: Allied Market Research | PRODUCT CODE: 1446943
PUBLISHER: Allied Market Research | PRODUCT CODE: 1446943
The global servo motors market was valued at $12,465.1 million in 2022, and is projected to reach $21,291.4 million by 2032, registering a CAGR of 5.5% from 2023 to 2032.
A servo motor is a specialized device commonly used in various applications to achieve precise control of angular or linear position, velocity, and acceleration. Unlike regular motors, servo motors incorporate a closed-loop system that includes a feedback mechanism, such as an encoder or potentiometer, enabling continuous monitoring and adjustment of the motor's actual position to the desired position. This feedback loop ensures accuracy and stability in positioning tasks. Servo motors are highly efficient in maintaining a specific position or achieving controlled motion within a limited range. They find extensive use in robotics, automation, CNC machinery, and other fields where precise motion control is crucial. Servo motors are pivotal in enabling intricate and controlled movements in various technological domains with their ability to provide accurate and rapid responses to control signals.
The servo motor market is being primarily fueled by technological advancements that boost motor efficiency and precision, alongside increased demands for precise motion control due to increasing automation across industries. The surge in robotics adoption in manufacturing and logistics further increases the necessity for high-performance motors. However, the initial high costs are linked with servo systems, limiting their reach in smaller-scale applications. In addition, the integration and programming complexities pose hurdles for some users in the global servo motor market. On the contrary, a promising opportunity emerges within the electric vehicle sector. As electric vehicles gain global traction, servo motors find extensive application in various components, marking a substantial growth pathway for the market.
The servo motors market is segmented on the basis of type, system, application, and region. By type, the market is categorized into AC servo motor, and DC servo motor. Depending on system, the servo motors market is categorized into rotary, and linear. Based on application, the servo motors market is divided into robotics, machine tools, electronic devices, printing and packaging technologies, and others. Based on region, the market share is analyzed across North America, Europe, Asia-Pacific, and Latin America, and MEA.
Competitive Analysis
Competitive analysis and profiles of the major global market players that have been provided in the report include Siemens AG, ABB Group, Yaskawa Electric Corporation, Rockwell Automation, Inc, Fanuc Corporation, Mitsubishi Electric Corporation, Parker Hannifin Corporation, Schneider Electric SE, Bosch Rexroth AG, and Lenze SE. Major strategies such as contracts, partnerships, expansion, and other strategies of players operating in the market are tracked and monitored.. Major strategies such as contracts, partnerships, expansion, and other strategies of players operating in the market are tracked and monitored.
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