The global Servo motors and drives market size will grow to USD 15.8 Billion by 2027 from USD 12.0 Billion in 2022, at a CAGR of 5.7% during the forecast period. The increasing demand for smart manufacturing integrated with energy-efficient devices in the industrial sector is an important driver for the servo motors and drives market.
The servo motors and drives market is served by a mix of large international players with operational presence across the globe and local players commanding a strong supply network in the domestic market. The leading players in the global servo motors and drives market include Yaskawa Electric (Japan), Siemens AG (Germany), Mitsubishi Electric (Japan), Schneider Electric (France), Rockwell Automation (US), and ABB (Switzerland). Strategies such as product launches, acquisitions, expansions, and investment are followed by these companies to increase their market share.
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Yaskawa Electric is one of the leading manufacturers in the fields of drive technology, industrial automation, and robotics in Japan. Yaskawa has been ensuring to provide cutting-edge technologies in its products and services. The servo motors and drives of the company are offered under its Motion Control segment. The demand for these products offered by the company is due to their better-performing motors and drives, which are contributing to energy-saving and optimized operational control.
Yaskawa Electric has operational facilities across geographies. The company has its R&D and manufacturing facilities in North America, South America, Asia Pacific, and Europe. Its long-term channel partners are part of the company’s sales and support teams.
Mitsubishi Electric is one of the leaders in the manufacture and sales of electric and electronic equipment for various applications. The company offers its servo motors and drives under its Industrial Automation Systems segment. The company has been implementing innovations in this automation field creating the highest segmental revenue in the company’s business
Mitsubishi Electric has a global presence in the Americas, Asia Pacific, Europe, the Middle East & Africa. The company has its sales, services, and support locations in countries around the world.
Siemens is a group of technology companies offering services in the areas of automation and digitalization in the process and manufacturing industries, intelligent infrastructure for buildings and distributed energy systems, and smart mobility solutions for road, rail, and digital health services. The company offers servo motors and drives through the Digital Industries segment. Siemens has been exploring new markets to provide services, which have made the company’s servo motor and drive offerings suitable for a wide range of applications.
Siemens has a presence in Europe, North America, the Middle East, South America, Africa, and Asia Pacific. The company operates in more than 100 countries globally and has a strong network of regional offices, research and development facilities, and sales offices
Servo Motors and Drives Market by System (Linear, Rotary), Communication Type (Fieldbus, Industrial Ethernet, Wireless), Voltage (Low, Medium, High), Brake Technology, Material, Product Type, End-users, Offering and Region - Global Forecast to 2027
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