Servo Drive Market Size By Category (Digital, Analog), By Drive (AC, DC), By Voltage (Low, Medium), By Application (Oil & Gas, Metal Cutting, Metal Forming, Material Handling Equipment, Packaging and Labeling, Robotics, Rubber & Plastics Machinery, Semiconductor Machinery, Other Industries), Industry Analysis Report, Regional Analysis (U.S., Canada, Mexico, UK, Germany, France, Italy, Spain, Russia, Norway, Sweden, Denmark, China, Japan, India, Australia, South Korea, Thailand, Malaysia, Philippines, Indonesia, Saudi Arabia, UAE, Qatar, Jordan, Iran, South Africa, Nigeria, Egypt, Algeria, Brazil, Chile, Argentina), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019-2025
Servo Drive Market in 2018, was valued over 6 billion and is anticipated to witness growth over 5% by 2025. Growing adoption of energy efficient standards coupled with ongoing advancements in the development of automation will stimulate the product demand. Surging penetration of automation across multiple industry verticals which includes oil & gas, and metal cutting will further boost the adoption of servo amplifiers which in turn will augment business growth.
Rapid industrialization across developing economies coupled with increasing investments toward the infrastructure development will positively influence the adoption of these units. Ongoing technological advancements along with implementation of monetary support programs by the government to support upgradation initiatives are some of the key parameters favoring product deployment. In addition, increasing accuracy of motor system with high speed operation will result in enhanced utilization of servo amplifier, thereby favoring the installation of these units.
Digital servo drive market is set to witness growth over 6% by 2025. Constant torque, increased acceleration, faster control response and increased holding power are some of the prominent features favoring the installation of these drives over other available counterparts. These drives implement algorithms through a microprocessor to analyze incoming signals and predict system conditions while controlling the mechanism.
Low voltage servo drive market will witness growth on account of adoption of stringent energy efficiency mandates coupled with the ongoing technological innovations across the small & medium enterprises. In addition, growing adoption of low-voltage units due to their small footprint across multiple small-scale utilities and industry verticals will further augment the industry landscape.
Asia Pacific servo drive market is anticipated to witness growth over 5% by 2025. Growing electronics market across emerging economies including China, Indonesia, and India coupled with increasing initiatives to strengthen the robotics and automation sector will stimulate the product demand over the coming years. For instance, in April 2016, the Government of China, announced the Robotics Industry Development Plan aimed toward strengthening and promoting the development of industrial robotics industry across the nation.
Servo drive market from semiconductor machinery application is set to witness growth on account of ongoing effort toward enhancing electronic component functionality coupled with growing measure to maximize energy efficiency. Higher precision and cooperative motion control are some of the key features favoring the deployment of these units across wafer processing equipment applications, thereby fueling product demand.
Germany market is set to witness gains on account of growing demand for precise control of equipment motion coupled with shifting trends toward the adoption of technologically advanced equipment capable of increasing the operational feasibility. In addition, the ability of a drive to possess excellent power to size relation and dynamic and accurate motion control will further boos the installation of these drives.
Eminent market participants across the industry comprise of Schneider Electric, Rockwell Automation, Siemens, Toshiba Corporation, Honeywell International, Emerson Electric, Bosch Rexroth, Yaskawa Electric Corporation, Estun Automation and Fuji Electric amongst others.
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