Servo Drive Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Description
Growth Factors of Servo Drive Market
The global servo drive market is poised for substantial growth, driven by advancements in automation, robotics, and precision control technologies. According to a report by Fortune Business Insights, the market size was valued at USD 6.72 billion in 2019 and is projected to reach USD 12.82 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.47% during the forecast period from 2020 to 2032 .
Market Dynamics and Drivers
Servo drives are integral components in various applications, including industrial machinery, robotics, automotive, and healthcare equipment. They regulate motor speed, torque, and position, enabling precise control and enhancing operational efficiency. The increasing demand for automation in manufacturing processes, coupled with the need for energy-efficient solutions, is propelling the growth of the servo drive market.
Technological advancements, such as the development of smart servo drives with integrated sensors and real-time monitoring capabilities, are further fueling market expansion. These innovations allow for predictive maintenance, reducing downtime and operational costs.
Regional Insights
Asia Pacific emerged as the dominant region in the servo drive market, accounting for 32.14% of the global share in 2019. The region's growth is attributed to rapid industrialization, urbanization, and significant investments in manufacturing sectors across countries like China and India. The increasing adoption of automation technologies in these nations is expected to sustain the demand for servo drives.
In the United States, the servo drive market is projected to grow significantly, reaching an estimated value of USD 2.54 billion by 2032. This growth is driven by the resurgence of manufacturing activities and the emphasis on automation to enhance productivity and competitiveness.
Market Challenges
Despite the positive growth trajectory, the servo drive market faces challenges related to the supply and demand imbalance. The COVID-19 pandemic led to disruptions in manufacturing and supply chains, resulting in a nearly 10% decline in market demand in 2020. While the market is recovering, addressing the supply chain constraints and ensuring the availability of components remain critical factors for sustained growth.
Conclusion
The servo drive market is on an upward trajectory, fueled by technological innovations and the increasing demand for automation across various industries. While challenges persist, the market's growth prospects remain robust, with significant opportunities in emerging economies and advanced manufacturing sectors. Stakeholders must navigate the evolving landscape by focusing on innovation, efficiency, and strategic investments to capitalize on the burgeoning demand for servo drive solutions.
ATTRIBUTE DETAILS
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Historical Period 2016-2018
Unit Value (USD Billion)
By Drive AC Drive
DC Drive
By Voltage Low (up to 1kV)
Medium (1kV-6.6kV)
High (Above 6.6kV)
By End-User Automotive
Healthcare
Industrial Machinery & Equipment
Semiconductors & Electronics
Printing & Packaging Equipment
Others
By Geography
North America
By Drive
By Voltage
By End-User
By Country
U.S. (By End-User)
Canada (By End-User)
Europe
By Drive
By Voltage
By End-User
By Country
UK (By End-User)
Germany (By End-User)
France (By End-User)
Italy (By End-User)
Spain (By End-User)
Russia (By End-User)
Rest of Europe (By End-User)
Asia Pacific
By Drive
By Voltage
By End-User
By Country
China (By End-User)
Japan (By End-User)
India (By End-User)
Australia (By End-User)
Southeast Asia (By End-User)
Rest of Asia Pacific (By End-User)
Latin America
By Drive
By Voltage
By End-User
By Country
Brazil (By End-User)
Mexico (By End-User)
Rest of Latin America (By End-User)
The Middle East & Africa
By Drive
By Voltage
By End-User
By Country
GCC (By End-User)
South Africa (By End-User)
Rest of the Middle East & Africa (By End-User)
Please Note:
It will take 5-6 business days to complete the report upon order confirmation.
The global servo drive market is poised for substantial growth, driven by advancements in automation, robotics, and precision control technologies. According to a report by Fortune Business Insights, the market size was valued at USD 6.72 billion in 2019 and is projected to reach USD 12.82 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.47% during the forecast period from 2020 to 2032 .
Market Dynamics and Drivers
Servo drives are integral components in various applications, including industrial machinery, robotics, automotive, and healthcare equipment. They regulate motor speed, torque, and position, enabling precise control and enhancing operational efficiency. The increasing demand for automation in manufacturing processes, coupled with the need for energy-efficient solutions, is propelling the growth of the servo drive market.
Technological advancements, such as the development of smart servo drives with integrated sensors and real-time monitoring capabilities, are further fueling market expansion. These innovations allow for predictive maintenance, reducing downtime and operational costs.
Regional Insights
Asia Pacific emerged as the dominant region in the servo drive market, accounting for 32.14% of the global share in 2019. The region's growth is attributed to rapid industrialization, urbanization, and significant investments in manufacturing sectors across countries like China and India. The increasing adoption of automation technologies in these nations is expected to sustain the demand for servo drives.
In the United States, the servo drive market is projected to grow significantly, reaching an estimated value of USD 2.54 billion by 2032. This growth is driven by the resurgence of manufacturing activities and the emphasis on automation to enhance productivity and competitiveness.
Market Challenges
Despite the positive growth trajectory, the servo drive market faces challenges related to the supply and demand imbalance. The COVID-19 pandemic led to disruptions in manufacturing and supply chains, resulting in a nearly 10% decline in market demand in 2020. While the market is recovering, addressing the supply chain constraints and ensuring the availability of components remain critical factors for sustained growth.
Conclusion
The servo drive market is on an upward trajectory, fueled by technological innovations and the increasing demand for automation across various industries. While challenges persist, the market's growth prospects remain robust, with significant opportunities in emerging economies and advanced manufacturing sectors. Stakeholders must navigate the evolving landscape by focusing on innovation, efficiency, and strategic investments to capitalize on the burgeoning demand for servo drive solutions.
ATTRIBUTE DETAILS
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Historical Period 2016-2018
Unit Value (USD Billion)
By Drive AC Drive
DC Drive
By Voltage Low (up to 1kV)
Medium (1kV-6.6kV)
High (Above 6.6kV)
By End-User Automotive
Healthcare
Industrial Machinery & Equipment
Semiconductors & Electronics
Printing & Packaging Equipment
Others
By Geography
North America
By Drive
By Voltage
By End-User
By Country
U.S. (By End-User)
Canada (By End-User)
Europe
By Drive
By Voltage
By End-User
By Country
UK (By End-User)
Germany (By End-User)
France (By End-User)
Italy (By End-User)
Spain (By End-User)
Russia (By End-User)
Rest of Europe (By End-User)
Asia Pacific
By Drive
By Voltage
By End-User
By Country
China (By End-User)
Japan (By End-User)
India (By End-User)
Australia (By End-User)
Southeast Asia (By End-User)
Rest of Asia Pacific (By End-User)
Latin America
By Drive
By Voltage
By End-User
By Country
Brazil (By End-User)
Mexico (By End-User)
Rest of Latin America (By End-User)
The Middle East & Africa
By Drive
By Voltage
By End-User
By Country
GCC (By End-User)
South Africa (By End-User)
Rest of the Middle East & Africa (By End-User)
Please Note:
It will take 5-6 business days to complete the report upon order confirmation.
Table of Contents
230 Pages
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
- 5. Qualitative Analysis – Impact of COVID-19
- 5.1. Impact of COVID-19 on the Servo Drive Market
- 5.2. Steps Taken by the Government to Overcome the Impact
- 5.3. Key Developments by Industry Players in Response to COVID-19
- 5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
- 6. Global Servo Drive Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Drive
- 6.2.1. AC Drive
- 6.2.2. DC Drive
- 6.3. Market Analysis, Insights and Forecast – By Voltage
- 6.3.1. Low (up to 1kV)
- 6.3.2. Medium Voltage (1.1-6.6kV)
- 6.3.3. High Voltage (Above 6.6kV)
- 6.4. Market Analysis, Insights and Forecast – By End-User
- 6.4.1. Automotive
- 6.4.2. Healthcare
- 6.4.3. Industrial Machinery & Equipment
- 6.4.4. Semiconductors & Electronics
- 6.4.5. Printing & Packaging Equipment
- 6.4.6. Others
- 6.5. Market Analysis, Insights and Forecast – By Region
- 6.5.1. North America
- 6.5.2. Latin America
- 6.5.3. Europe
- 6.5.4. Asia Pacific
- 6.5.5. Middle East and Africa
- 7. North America Servo Drive Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Drive
- 7.2.1. AC Drive
- 7.2.2. DC Drive
- 7.3. Market Analysis, Insights and Forecast – By Voltage
- 7.3.1. Low (up to 1kV)
- 7.3.2. Medium Voltage (1.1-6.6kV)
- 7.3.3. High Voltage (Above 6.6kV)
- 7.4. Market Analysis, Insights and Forecast – By End-User
- 7.4.1. Automotive
- 7.4.2. Healthcare
- 7.4.3. Industrial Machinery & Equipment
- 7.4.4. Semiconductors & Electronics
- 7.4.5. Printing & Packaging Equipment
- 7.4.6. Others
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. U.S. Market Analysis, Insights and Forecast – By End-User
- 7.5.1.1. Automotive
- 7.5.1.2. Healthcare
- 7.5.1.3. Industrial Machinery & Equipment
- 7.5.1.4. Semiconductors & Electronics
- 7.5.1.5. Printing & Packaging Equipment
- 7.5.1.6. Others
- 7.5.2. Canada Market Analysis, Insights and Forecast – By End-User
- 7.5.2.1. Automotive
- 7.5.2.2. Healthcare
- 7.5.2.3. Industrial Machinery & Equipment
- 7.5.2.4. Semiconductors & Electronics
- 7.5.2.5. Printing & Packaging Equipment
- 7.5.2.6. Others
- 8. Europe Servo Drive Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Drive
- 8.2.1. AC Drive
- 8.2.2. DC Drive
- 8.3. Market Analysis, Insights and Forecast – By Voltage
- 8.3.1. Low (up to 1kV)
- 8.3.2. Medium Voltage (1.1-6.6kV)
- 8.3.3. High Voltage (Above 6.6kV)
- 8.4. Market Analysis, Insights and Forecast – By End-User
- 8.4.1. Automotive
- 8.4.2. Healthcare
- 8.4.3. Industrial Machinery & Equipment
- 8.4.4. Semiconductors & Electronics
- 8.4.5. Printing & Packaging Equipment
- 8.4.6. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. UK Market Analysis, Insights and Forecast – By End-User
- 8.5.1.1. Automotive
- 8.5.1.2. Healthcare
- 8.5.1.3. Industrial Machinery & Equipment
- 8.5.1.4. Semiconductors & Electronics
- 8.5.1.5. Printing & Packaging Equipment
- 8.5.1.6. Others
- 8.5.2. Germany Market Analysis, Insights and Forecast – By End-User
- 8.5.2.1. Automotive
- 8.5.2.2. Healthcare
- 8.5.2.3. Industrial Machinery & Equipment
- 8.5.2.4. Semiconductors & Electronics
- 8.5.2.5. Printing & Packaging Equipment
- 8.5.2.6. Others
- 8.5.3. France Market Analysis, Insights and Forecast – By End-User
- 8.5.3.1. Automotive
- 8.5.3.2. Healthcare
- 8.5.3.3. Industrial Machinery & Equipment
- 8.5.3.4. Semiconductors & Electronics
- 8.5.3.5. Printing & Packaging Equipment
- 8.5.3.6. Others
- 8.5.4. Italy Market Analysis, Insights and Forecast – By End-User
- 8.5.4.1. Automotive
- 8.5.4.2. Healthcare
- 8.5.4.3. Industrial Machinery & Equipment
- 8.5.4.4. Semiconductors & Electronics
- 8.5.4.5. Printing & Packaging Equipment
- 8.5.4.6. Others
- 8.5.5. Spain Market Analysis, Insights and Forecast – By End-User
- 8.5.5.1. Automotive
- 8.5.5.2. Healthcare
- 8.5.5.3. Industrial Machinery & Equipment
- 8.5.5.4. Semiconductors & Electronics
- 8.5.5.5. Printing & Packaging Equipment
- 8.5.5.6. Others
- 8.5.6. Russia Market Analysis, Insights and Forecast – By End-User
- 8.5.6.1. Automotive
- 8.5.6.2. Healthcare
- 8.5.6.3. Industrial Machinery & Equipment
- 8.5.6.4. Semiconductors & Electronics
- 8.5.6.5. Printing & Packaging Equipment
- 8.5.6.6. Others
- 8.5.7. Rest of Europe Market Analysis, Insights and Forecast – By End-User
- 8.5.7.1. Automotive
- 8.5.7.2. Healthcare
- 8.5.7.3. Industrial Machinery & Equipment
- 8.5.7.4. Semiconductors & Electronics
- 8.5.7.5. Printing & Packaging Equipment
- 8.5.7.6. Others
- 9. Asia Pacific Servo Drive Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Drive
- 9.2.1. AC Drive
- 9.2.2. DC Drive
- 9.3. Market Analysis, Insights and Forecast – By Voltage
- 9.3.1. Low (up to 1kV)
- 9.3.2. Medium Voltage (1.1-6.6kV)
- 9.3.3. High Voltage (Above 6.6kV)
- 9.4. Market Analysis, Insights and Forecast – By End-User
- 9.4.1. Automotive
- 9.4.2. Healthcare
- 9.4.3. Industrial Machinery & Equipment
- 9.4.4. Semiconductors & Electronics
- 9.4.5. Printing & Packaging Equipment
- 9.4.6. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. China Market Analysis, Insights and Forecast – By End-User
- 9.5.1.1. Automotive
- 9.5.1.2. Healthcare
- 9.5.1.3. Industrial Machinery & Equipment
- 9.5.1.4. Semiconductors & Electronics
- 9.5.1.5. Printing & Packaging Equipment
- 9.5.1.6. Others
- 9.5.2. Japan Market Analysis, Insights and Forecast – By End-User
- 9.5.2.1. Automotive
- 9.5.2.2. Healthcare
- 9.5.2.3. Industrial Machinery & Equipment
- 9.5.2.4. Semiconductors & Electronics
- 9.5.2.5. Printing & Packaging Equipment
- 9.5.2.6. Others
- 9.5.3. India Market Analysis, Insights and Forecast – By End-User
- 9.5.3.1. Automotive
- 9.5.3.2. Healthcare
- 9.5.3.3. Industrial Machinery & Equipment
- 9.5.3.4. Semiconductors & Electronics
- 9.5.3.5. Printing & Packaging Equipment
- 9.5.3.6. Others
- 9.5.4. Australia Market Analysis, Insights and Forecast – By End-User
- 9.5.4.1. Automotive
- 9.5.4.2. Healthcare
- 9.5.4.3. Industrial Machinery & Equipment
- 9.5.4.4. Semiconductors & Electronics
- 9.5.4.5. Printing & Packaging Equipment
- 9.5.4.6. Others
- 9.5.5. Southeast Asia Market Analysis, Insights and Forecast – By End-User
- 9.5.5.1. Automotive
- 9.5.5.2. Healthcare
- 9.5.5.3. Industrial Machinery & Equipment
- 9.5.5.4. Semiconductors & Electronics
- 9.5.5.5. Printing & Packaging Equipment
- 9.5.5.6. Others
- 9.5.6. Rest of Asia Pacific Market Analysis, Insights and Forecast – By End-User
- 9.5.6.1. Automotive
- 9.5.6.2. Healthcare
- 9.5.6.3. Industrial Machinery & Equipment
- 9.5.6.4. Semiconductors & Electronics
- 9.5.6.5. Printing & Packaging Equipment
- 9.5.6.6. Others
- 10. Latin America Servo Drive Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Drive
- 10.2.1. AC Drive
- 10.2.2. DC Drive
- 10.3. Market Analysis, Insights and Forecast – By Voltage
- 10.3.1. Low (up to 1kV)
- 10.3.2. Medium Voltage (1.1-6.6kV)
- 10.3.3. High Voltage (Above 6.6kV)
- 10.4. Market Analysis, Insights and Forecast – By End-User
- 10.4.1. Automotive
- 10.4.2. Healthcare
- 10.4.3. Industrial Machinery & Equipment
- 10.4.4. Semiconductors & Electronics
- 10.4.5. Printing & Packaging Equipment
- 10.4.6. Others
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. Brazil Market Analysis, Insights and Forecast – By End-User
- 10.5.1.1. Automotive
- 10.5.1.2. Healthcare
- 10.5.1.3. Industrial Machinery & Equipment
- 10.5.1.4. Semiconductors & Electronics
- 10.5.1.5. Printing & Packaging Equipment
- 10.5.1.6. Others
- 10.5.2. Mexico Market Analysis, Insights and Forecast – By End-User
- 10.5.2.1. Automotive
- 10.5.2.2. Healthcare
- 10.5.2.3. Industrial Machinery & Equipment
- 10.5.2.4. Semiconductors & Electronics
- 10.5.2.5. Printing & Packaging Equipment
- 10.5.2.6. Others
- 10.5.3. Rest of Latin America Market Analysis, Insights and Forecast – By End-User
- 10.5.3.1. Automotive
- 10.5.3.2. Healthcare
- 10.5.3.3. Industrial Machinery & Equipment
- 10.5.3.4. Semiconductors & Electronics
- 10.5.3.5. Printing & Packaging Equipment
- 10.5.3.6. Others
- 11. Middle East & Africa Servo Drive Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 11.1. Key Findings / Summary
- 11.2. Market Analysis, Insights and Forecast – By Drive
- 11.2.1. AC Drive
- 11.2.2. DC Drive
- 11.3. Market Analysis, Insights and Forecast – By Voltage
- 11.3.1. Low (up to 1kV)
- 11.3.2. Medium Voltage (1.1-6.6kV)
- 11.3.3. High Voltage (Above 6.6kV)
- 11.4. Market Analysis, Insights and Forecast – By End-User
- 11.4.1. Automotive
- 11.4.2. Healthcare
- 11.4.3. Industrial Machinery & Equipment
- 11.4.4. Semiconductors & Electronics
- 11.4.5. Printing & Packaging Equipment
- 11.4.6. Others
- 11.5. Market Analysis, Insights and Forecast – By Country
- 11.5.1. GCC Market Analysis, Insights and Forecast – By End-User
- 11.5.1.1. Automotive
- 11.5.1.2. Healthcare
- 11.5.1.3. Industrial Machinery & Equipment
- 11.5.1.4. Semiconductors & Electronics
- 11.5.1.5. Printing & Packaging Equipment
- 11.5.1.6. Others
- 11.5.2. South Africa Market Analysis, Insights and Forecast – By End-User
- 11.5.2.1. Automotive
- 11.5.2.2. Healthcare
- 11.5.2.3. Industrial Machinery & Equipment
- 11.5.2.4. Semiconductors & Electronics
- 11.5.2.5. Printing & Packaging Equipment
- 11.5.2.6. Others
- 11.5.3. Rest of Middle East & Africa Market Analysis, Insights and Forecast – By End-User
- 11.5.3.1. Automotive
- 11.5.3.2. Healthcare
- 11.5.3.3. Industrial Machinery & Equipment
- 11.5.3.4. Semiconductors & Electronics
- 11.5.3.5. Printing & Packaging Equipment
- 11.5.3.6. Others
- 12. Competitive Analysis
- 12.1. Company Market Share Analysis, 2019
- 12.2. Company Profile
- 12.2.1. Rockwell Automation
- 12.2.1.1. Business Overview
- 12.2.1.2. Product & Service Offering
- 12.2.1.3. Overall Revenue
- 12.2.1.4. Geographic Presence
- 12.2.1.5. Recent Development
- 12.2.2. Anaheim Automation Inc.
- 12.2.2.1. Business Overview
- 12.2.2.2. Product & Service Offering
- 12.2.2.3. Overall Revenue
- 12.2.2.4. Geographic Presence
- 12.2.2.5. Recent Development
- 12.2.3. Nidec Motor Corporation
- 12.2.3.1. Business Overview
- 12.2.3.2. Product & Service Offering
- 12.2.3.3. Overall Revenue
- 12.2.3.4. Geographic Presence
- 12.2.3.5. Recent Development
- 12.2.4. WEG
- 12.2.4.1. Business Overview
- 12.2.4.2. Product & Service Offering
- 12.2.4.3. Overall Revenue
- 12.2.4.4. Geographic Presence
- 12.2.4.5. Recent Development
- 12.2.5. ABB
- 12.2.5.1. Business Overview
- 12.2.5.2. Product & Service Offering
- 12.2.5.3. Overall Revenue
- 12.2.5.4. Geographic Presence
- 12.2.5.5. Recent Development
- 12.2.6. Siemens
- 12.2.6.1. Business Overview
- 12.2.6.2. Product & Service Offering
- 12.2.6.3. Overall Revenue
- 12.2.6.4. Geographic Presence
- 12.2.6.5. Recent Development
- 12.2.7. Danfoss Drives
- 12.2.7.1. Business Overview
- 12.2.7.2. Product & Service Offering
- 12.2.7.3. Overall Revenue
- 12.2.7.4. Geographic Presence
- 12.2.7.5. Recent Development
- 12.2.8. Fuji Electric
- 12.2.8.1. Business Overview
- 12.2.8.2. Product & Service Offering
- 12.2.8.3. Overall Revenue
- 12.2.8.4. Geographic Presence
- 12.2.8.5. Recent Development
- 12.2.9. Schneider Electric
- 12.2.9.1. Business Overview
- 12.2.9.2. Product & Service Offering
- 12.2.9.3. Overall Revenue
- 12.2.9.4. Geographic Presence
- 12.2.9.5. Recent Development
- 12.2.10. Yaskawa
- 12.2.10.1. Business Overview
- 12.2.10.2. Product & Service Offering
- 12.2.10.3. Overall Revenue
- 12.2.10.4. Geographic Presence
- 12.2.10.5. Recent Development
- 12.2.11. Toshiba International Corporation
- 12.2.11.1. Business Overview
- 12.2.11.2. Product & Service Offering
- 12.2.11.3. Overall Revenue
- 12.2.11.4. Geographic Presence
- 12.2.11.5. Recent Development
- 12.2.12. Mitsubishi Electric Automation, Inc.
- 12.2.12.1. Business Overview
- 12.2.12.2. Product & Service Offering
- 12.2.12.3. Overall Revenue
- 12.2.12.4. Geographic Presence
- 12.2.12.5. Recent Development
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