Servo motors are the most sophisticated motion control devices with advanced design methods, high-force magnet materials, and precise dimensional tolerance. The Servo motor market is one of the most lucrative markets in the automotive sector. Increasing demand for high-performance motors, growing vehicle production worldwide and the positive outlook of manufacturing industries are the major factors responsible for the growth of global servo motors market .
They are designed and intended to be used in motion control applications that involve exceptional performance, quick reversing, and high accuracy positioning. Additionally, they offer easy installation and involve no maintenance cost, thus driving their demand over the forecast period. The demand for industrial automation would continue to grow due to the increased requirements of high product quality, paired with expectations of equally high reliability in high volume production. Lightweight machines, reduced size, increase in speed and higher torque are providing huge market opportunities. Reduced prices have grabbed the attention of manufacturer’s on the subjects such as advanced design, production techniques and production time.
AC Motor segment holds the largest market share of the overall servo motor market during the forecast period
AC Motor segment dominates the global servo market and projected to lead over the forecast period 2019-2025. AC motors are comparatively lighter and smaller and are generally used in HVAC equipment, industrial and home appliances, and manufacturing facilities. AC motor type endures higher current, used in in-line manufacturing, robots, and other industrial applications where high precision and repetition are required. They are more cost-effective as they incur negligible or no maintenance cost. Rapid changes in terms of manufacturing technology, innovation, and technical advancement within the automotive industry are projected to fuel the market for servo motors globally.
Motor Vehicle segment is the leading application in the global servo motor market during the forecast period
The market size can be attributed to the growing vehicle production worldwide, increasing demand for electric vehicle and technological advancement. Servo motors enhance the efficiency of production and manufacturing facilities in the automotive industry. Owing to reduced size, high accuracy and speed, higher torque, and lightweight machines are driving the market across the automotive sector. Stringent emission regulations in numerous countries to curb the pollution level increased sales of electric vehicles. Moreover, motion control systems find wide application in the automotive industry for precision fuel injection, auto body painting, linear and rotary solution, speed control, and assembly application. However, declining prices and increasing demand for servo motors are projected to drive market growth globally.
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Global Servo Motor Market Competitive Landscape
Companies such as ABB Ltd., Allied Motion Technologies, Inc., Ametek, Inc., General Electric Company, Nidec Corporation, Rockwell Automation Inc., Schneider Electric, Emerson Electric Company, Siemens AG, WEG Industries, Hitachi Ltd., Oriental Motor, Mitsubishi Electric Corp., Panasonic, Rexroth (Bosch), Delta, Toshiba Corp., Danfoss Group, Fuji Electric Holdings Co. Ltd., Yaskawa Electric Corp. are the key players in manufacturing servo motor globally.
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