Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Servo Motors and Drives Market bolstering market share owing due to emerging industrial automation and robotics
The global servo motors and drives market expected to spur market value with USD 18.4 billion with anticipating CAGR in the forecast period from 2020-2027. The emerging demand for global servo motors and drives is fueling due to the emerging demand for robots in industries, manufacturing of lightweight vehicles, increasing packaging, and food & beverage industries.
In an era of significant changes, which require rapid innovation and integration high-tech, robots are an important means of support for the development of the industry. The servo system is an automatic motion control device, which is mainly used to accurately control the position, orientation, state, etc. of mechanical components. It determines the accuracy, control speed, and stability of automated machinery, so it is the core of industrial automation equipment.
Moreover, digital control technology is an inevitable trend in servo systems to replace analog control circuits. Servo control units based on analog electronic devices will be replaced entirely by servo control units that use fully digital processors. The servo control will be gradually transformed into software control to apply modern advanced control methods in the servo system.
Type overview in the Global Servo Motors and Drives Market
Based on the type, the global servo motors and drives market bifurcated into Servo Motors and Servo Drives. The servo motor segment is estimated to dominate the global servo motors' maximum share and drives the market in the forecast period from 2020-2027. It is mainly owing to accuracy, speed, adaptability, which provide the strong anti-overload capability, can withstand a load three times the rated torque, especially suitable for occasions with momentary load fluctuations and quick start requirements.
Voltage Range overview in the Global Servo Motors and Drives Market
Based on the voltage range, the global servo motors and drives market classified into Low-Voltage, Medium-Voltage, and High Voltage. The low-voltage range segment dominated the largest market share in the worldwide servo motors and drives market. Its main task is to amplify, transform, and regulate power according to the requirements of control commands, so that the torque, speed, and position control of the drive device's output are very flexible and convenient. Thus, a low-voltage DC servo controller was initially used in defense military industry due to its precise speed control and price advantages.
End-Use overview in the Global Servo Motors and Drives Market
Based on the end-use, the global servo motors and drives market segmented into Automotive & Transportation Industry, Textile Industry, Petrochemicals Industry, Packaging Industry, Printing & Paper Industry, and Others. The packaging industry segment accounts for the highest share in the global servo motors and drives market. The servo control technology in the packaging industry is relatively broad, and the efficiency is considerable. It kept synchronized with the packaging machine yield of the required speed can be adjusted according to production. Also, the servo drive can quickly and accurately change the production speed and replace the mechanical speed adjustment method widely used in packaging machinery.
Region overview in the Global Servo Motors and Drives Market
Based on geography, the global servo motors and drives market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is the world's fastest-growing servo motors and drives market, accounting for the largest share in the global market. It is mainly due to the emerging industrialization, manufacturing of robots for industrial purpose, and emerging packaging industry and coupled with energy-efficient automobiles are fueling market share of Asia Pacific.
Global Servo Motors and Drives Market: Competitive Landscape
Companies such as Yaskawa Electric Corp., Mitsubishi Electric Corp., Siemens AG, Schneider Electric, Rockwell Automation, Inc. ABB Ltd., Delta Electronics, Inc., Emerson Electric Co., FANUC Corp., Bosch Rexroth AG, and others are key players in the global servo motors and drives market.