Servo Motors and Drives Market

Market Leaders - Servo Motors and Drives Market

The servo motors and drives market is projected to grow from USD 13.9 billion in 2020 to USD 16.8 billion by 2025; it is expected to grow at a CAGR of 4.0% from 2020 to 2025. The key factors fueling the growth of this market include the growing automation in factories, rising adoption of international standards for motor efficiency, development of user-friendly motion control libraries and packages for motors and drives, and increasing production of vehicles.

The key players operating in the market include companies operating at different stages of the servo motors and drives value chain. These companies are Yaskawa Electric (Japan), Siemens AG (Germany), Mitsubishi Electric (Japan), Schneider Electric (France), Rockwell Automation (US), ABB (Switzerland), Nidec Corporation (Japan), Fuji Electric (Japan), Delta Electronics (Taiwan), and FANUC Corporation (Japan). These companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, expansions, partnerships, and acquisitions, to strengthen their position in the market.

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Top Players in Servo Motors and Drives Market:

Siemens AG was one of the leading companies in the servo motors and drives market in 2019, with an increased focus on real-time and energy efficient servo motors and servo drives. The servo motors and drives of the company are offered through its digital industries segment. The company designs, manufactures, and distributes servo motors and drives for use in automotive, cement, chemicals, petrochemicals, food & beverages, pharmaceuticals & healthcare, electronics, oil & gas, and packaging industries. It delivers a wide range of servo components such as servo motors, linear motors, converters, generators, geared motors, servo drives, variable frequency drives, servo brakes, and related software solutions and services. It has adopted the strategy of product launches and development to strengthen its position in the market.

  • In November 2019, Siemens launched the Simatic Micro F-TM servo drive. The new drive has a protective extra-low voltage range of 24 to 48 volts, and provides dynamic and accurate positioning. The servo drive system can be used for positioning tasks, automated guided vehicle systems (AGVS), and production machines.
  • In May 2019, Siemens launched the Sinamics V90 servo drive system with updated firmware. The new servo drive supports fast pulse train input (PTI) mode, increasing the PTI performance by 70% and resulting in faster reaction time of the drive. This results in the smooth performance of the servo system and increases its application areas requiring dynamic performance, e.g., LED production.

Rockwell Automation is a global provider of industrial infrastructure control solutions and other industrial automation solutions. The company offers a variety of products such as advanced process control systems, distributed control systems, drive systems, drives, human-machine interface (HMI), industrial sensors, and motion control systems. It caters to the requirements of various sectors such as food & beverages, power generation, infrastructure, print & publishing, chemicals, and automotive. Rockwell Automation generates maximum revenue from its control system division. Allen-Bradley (US), Maverick Technologies (US), Sensia JV (US), Automation Control Products, Inc. (US), and Avnet Data Security Ltd. (Israel) are a few subsidiaries of Rockwell Automation.

Rockwell Automation has adopted the strategy of new product launches and developments to increase its production efficiency and gain a competitive edge over other players operating in the servo motors and drives market.

  • In March 2020, Rockwell Automation released fanless Kinetix VPC servo motors. The new servo motors offer better performance and higher energy efficiencies than the older version of VPC continuous duty servo motor, and achieve IE5 energy-efficiency ratings. The new products reduce torque ripple and find use in high-quality printing, tensioning, and other application-specific tasks.

Related Reports:

Servo Motors and Drives Market by Offering (Hardware, Software and Services), Product Type (Servo Motors, Servo Drives), System, Voltage, Communication Protocol, Brake Technology, Material of Construction, Industry, and Region - Global Forecast to 2025

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Report Code
EP 7814
RI Published ON
5/12/2020
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