A recent market intelligence report that is published by Data Insights Partner on the Servo Motors and Drives Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Servo Motors and Drives Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Servo Motors and Drives Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Servo Motors and Drives Market is offered. In accordance with the report, the global Servo Motors and Drives Market is projected to expand by healthy CAGR of 4.0% over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Servo Motors and Drives are one type of an electronic amplifier used to power electric servomechanisms. After receiving any command signal from a control system, a servo drive amplifies that signal and transmits electric current to a servo motor to produce motion proportional to the received command signal. The command signal represents a desired velocity or a desired torque or a position. The servo motor rotates, in a properly configured control system, at a velocity which is close to the velocity signal received by the servo drive from the control system. Though most servo motor requires a drive only specific to that particular motor brand or model, many drives now-a-days are also compatible with a wide variety of motors.
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The growing automotive manufacturing and transportation sectors are main drivers behind the rapid growth of Servo Motors and Drives Market. The growing adoption of motor technologies and motor-based products is also pushing the growth rate of the said market to rise high.
Beside this, the rapid urbanization and technological advancements, growing population, rising per capita income are also some of the key players behind the rapid growth of the Servo Motors and Drives Market.
Aside from these, the rising foreign investments in the Servo Motors and Drives sector are also adding fuel to this increasing market growth.
The regular introduction of different and brand-new types of Servo Motors and Drives with better technology, more voltage power, qualities and durability in different sizes and price range to satisfy the varying tastes of the customers is also attracting new consumers and thus helping the growth rate of Servo Motors and Drives Market to rise high. The convenience and efficiency of Servo Motors and Drives spaces is also helping in the expansion of the said market.
The Servo Motors and Drives Market has a huge potential. Though it is expanding very fast day by day, many things are preventing it from using its full potential. Some of these restraints are–
High prices of the raw materials due to lack of supply, high production costs, high cost of R&D activities and high transportation, tariff and import costs resulting into high rents of the premium quality end products.
Emission of harmful chemicals and pollutants during production.
Strict International Standards for manufacturing process and qualities of motors and drives.
Unavailability of these products in many regions.
Lack of awareness about the availability and benefits of the Servo Motors and Drives in the developing countries.
The Servo Motors and Drives is expected have huge opportunities as these are highly used by automotive manufacturers. Growing usage of consumer electronics and robotic products in the daily lives is helping this expansion further.
During the forecast period, Asia Pacific followed by North America are expected to have the largest share of Servo Motors and Drives Market. The demand for these products in the Asia Pacific region is driven by its expanding transportation and automotive sectors, growing population and rising disposable income among individuals. It is also believed that on the basis of communication protocol, the fieldbus segment, by brake technology, the permanent magnet segment, by system type, the rotary system and by offering type, the hardware segment will face the highest growth rate for its relatively low prices, high demand, easy installation and maintenance, conveniency and efficiency.
This market intelligence report on the global Servo Motors and Drives Market encompasses market segments based on product type, offering type, system type, voltage, communication protocol, brake technology, material type, source, application, end usage, distributional channel and country.
By Product Type the global Servo Motors and Drives Market has been divided into:
q Servo Motors
q Servo Drivers
By Offering Type the global Servo Motors and Drives Market has been divided into:
By System Type the global Servo Motors and Drives Market has been divided into:
q Rotary System
q Linear System
By Voltage the global Servo Motors and Drives Market has been divided into:
q Low Voltage
q Medium Voltage
q High Voltage
By Communication Protocol the global Servo Motors and Drives Market has been divided into:
q Industrial Ethernet
By Brake Technology the global Servo Motors and Drives Market has been divided into:
q Permanent Magnets
By Material Type the global Servo Motors and Drives Market has been divided into:
q Stainless Steel
By Application the global Servo Motors and Drives Market has been divided into:
q Automotive and Transportation
q Food Processing
q Semiconductor and Electronic
By End Usage the global Servo Motors and Drives Market has been divided into:
By Distributional Channel the global Servo Motors and Drives Market has been divided into:
By country/region, the global Servo Motors and Drives Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Delta Electronics
q FANUC Corporation
q Fuji Electric
q Mitsubishi Electric
q Nidec Corporation
q Rockwell Automation
q Schneider Electric
q Siemens AG
q Yaskawa Electric
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Servo Motors and Drives Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Headquartered in Japan, one of the leading market players the Mitsubishi Electric announced the acquisition of the Singapore-based manufacturer of linear servo motors, Akribis System Pte Ltd in July, 2019. This acquisition is expected to strengthen the automation products market dynamics of Mitsubishi Electric and thus increase its global market share.
The North American servo motors and drives manufacturing company Rockwell Automation has recently released their brand new fanless Kinetix VPC servo motors in March, 2020.
Situated in India, the Schneider Electric has launched their new smart factory facility in Bangalore, India in November, 2019, which is aimed at facilitating energy efficiency, reducing operational costs and reinforcing the company’s commitment to the Make in India program.
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Ø This study offers comprehensive yet detailed analysis of the Servo Motors and Drives Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Servo Motors and Drives Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of different type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Servo Motors and Drives caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Servo Motors and Drives Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
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v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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