Market Research Report
Servo Motors and Drives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|Servo Motors and Drives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
Published: September 16, 2021
IMARC Services Private Limited
Content info: 147 Pages
Delivery time: 2-3 business days
The global servo motors and drives market reached a value of US$ 12.3 Billion in 2020. Servo motors and drives refer to the automated linear or rotary actuators used for precise position control in industrial machineries, such as conveyor belts, packaging machines, food processing units, semiconductors and robots. They are a crucial component of the servo motor controller and operate in closed-loop mechanisms that register positional feedback to control the rotational speed of the motors. Some of the most commonly used servo motors and drives include simple direct current (DC) brushless, brushed, linear servo motors and alternating current (AC) motors and drives. They are commonly used as an amplifier to control the amount of current being transferred to the motor. As a result, they find extensive applications across various industries, including automotive, semiconductor and electronics, healthcare, packaging, oil & gas and chemicals & petrochemicals.
The increasing automation in factories and other industrial units represents one of the key factors driving the growth of the market. In line with this, the widespread utilization of robotics across industries is also augmenting the market growth. Industrial robots are widely used for assembly, pick-up and manufacturing applications. Rotary servo motors enable interaction between magnets and winding, and offer various advantageous properties, including high-resolution precision feedback, high torque density and minimal energy consumption. This, along with various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and artificial intelligence (AI), is also contributing to the market growth. In line with this, product manufacturers are also using lightweight materials to create gear systems for remotely assisted products, such as drones and small-sized robots. Other factors, including rapid industrialization, along with the advent of industry 4.0, are anticipated to drive the market further. Looking forward, IMARC Group expects the global servo motors and drives market to grow at a CAGR of 5.2% during 2021-2026.