Servo Motors and Drives Market Size Worth $26.54 Billion By 2032 | CAGR: 6.3%

The global servo motors and drives market size is expected to reach USD 26.54 billion by 2032, according to a new study by Polaris Market Research. The report “Servo Motors and Drives Market Share, Size, Trends, Industry Analysis Report, By System Type (Linear and Rotary); By Voltage; By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Extensive growth and high technological advancements in the field of automation and surging adoption of international energy-efficient standards coupled with the high penetration for replacing outdated low-efficient electric motors with innovated efficient servo motors, are prominent factors influencing the market growth.

Moreover, introduction to several advanced tools and services by major market players to boost the production output, while reducing the operational costs and less energy consumption, are further likely to create lucrative growth opportunities for the market. For instance, in November 2022, Inovance Technology, introduced its range of new products for the European market that includes the high-performance Easy Series PLC, GL20 I/O modules, AC703 IPC motion controllers, and SV670 servo series. The company also offered a preview of its servo drive with advanced safety functions.

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With a significant number of businesses that are constantly focusing on replacing traditional motors with servo motors specially to simplify their operations and enhance the overall output and rapidly emerging trend of industry 4.0, have gained significant traction. Additionally, the rapidly increasing usage of industrial robots in assemble, pick-up, and several manufacturing applications across sectors including automotive, electrical/electronics, metal, and machinery is resulting in high deployment of servo motors globally.

Apart from this, servo motors and drives can easily deal with continuously changing voltage that makes it’s a preferable choice for machine tools, CNC machines, printing machines, food processing machines, home appliances, off-road vehicles, and aircraft parts, are gaining traction and being adopted at rapid pace all over the world.

Servo Motors and Drives Market Report Highlights

• Rotary segment is projected to hold substantial market revenue share over the projected period, owing to its ability to provide numerous advantages like low energy consumption and high torque density
• Low voltage segment is anticipated to grow at a high CAGR during the projected period, which is mainly driven by its less maintenance and setup costs and high reliability
• Semiconductor & electronics segment accounted for largest market share in 2022, mainly due to widespread adoption of electronic devices and growing technological innovations
• Asia Pacific region dominated the global market in 2022 with maximum share, owing to growing industrialization and high prevalence of various government initiatives across the region
• The global key market players include Rozum Robotics, Nidec Motor Corporation, Schneider Electric, Rockwell Automation, Parker Hannifin Corporation and others.

Polaris Market Research has segmented the servo motors and drives market report based on system type, voltage application, and region:

Servo Motors and Drives, System Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Linear
• Rotary

Servo Motors and Drives, Voltage Outlook (Revenue - USD Billion, 2019 - 2032)

• Low Voltage
• Medium Voltage
• High Voltage

Servo Motors and Drives, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Automotive & Transportation
• Semiconductor & Electronics
• Food Processing
• Textile
• Petrochemical
• Pharmaceutical and Healthcare
• Packaging
• Robotics
• Printing & Paper
• Others

Servo Motors and Drives, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Servo Motors and Drives Market Report Scope