The servo motors and drives market is anticipated to register a CAGR of 6.4% during the forecast period (2021 – 2026). The recent technological advancements and implementation of government policies, like Minimum Energy Performance Standards (MEPS), in several countries gave rise to energy efficient motor systems, which inturn boosted the market for servo motor and drives.
– Flexibility in machine tool operations is one of the most significant benefits. Additionally, servos replace traditional gears, belts, and pulleys to eliminate wear and failure problems, which were typical with older technologies. Servos increase productivity, reliability, and machine throughput.
– High peak torque, high acceleration, and the smallest physical package possible are critical considerations to developments across the market studied. Moreover, servo motors are specially equipped to take inputs from computer sensors and controllers, making them fit for executing precise activities, such as CNC machining, robotics, and advanced automated manufacturing.
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The market for servo motors and drives is estimated to be highly competitive over the forecast period, as the players in the market are increasingly workin on new product development with a sharp focus on overcoming the shortcomings of the procecutor. The players are also focusing in partnerships, and mergers and acquistions in order to expand their consumer base.
– March 2019 – Seimens launched new Sinamics S210 Servo Drive System Simplifying Motion Control. It is designed for use with the newly developed Simotics S-1FK2 motors.
– March 2019 – Mitsubishi announced to launch a new series of servo systems. these systems would support the CC-Link IE TSN2 next-generation industrial open network.
– June 2020- Rockwell Automation Inc. announced the launch of a Fanless Kinetix VPC Servo Motor Delivers Energy Savings by Allen-Bradley leads the motor to use the same interior permanent magnet technology as the original fan version to help operators achieve better performance and higher energy efficiencies.
Automotive to Hold Significant Share
– Automakers in the recent years have automated their plants, like KUKA AG, in order to reduce the number of issues on the work floor, improving efficiency and reducing the operational costs. Many companies have been identified to follow suit, by automating their plant in order to gain better returns and efficiency, driving the market for servo motors and drives market.
– The growing adoption of automation in manufacturing processes and involvement of digitization and AI are primary factors driving the demand for industrial robots among the automotive sector. For instance, in July 2018, the International Automotive Components (IAC) has implemented manufacturing 4.0 and smart factory applications at its UK site in Halewood, England. The new application is expected to deploy smart logistics, cross-company integration, and collaborative robots (cobots).
– In 2017, more than 170,000 robots took part in the production process in Europe automotive industry. The growing presence of robots and automation in Europe automotive industries is expected to fuel the market for industrial robots further in the region.
– For instance, in April 2018, PSA Group, Europe�s second-largest car manufacturer, began the process of modernizing its European manufacturing sites with Universal Robots� UR10 collaborative robots.
– Therefore, such increased adoption in the of automation and robotics is anticipated to drive the market for servo motor and drives in the automotive sector over the forecast period.
United States to Hold Significant Share
– With multiple manufacturing processes in the country becoming increasingly automated, demanding accuracy and needing repeatability are being served by servo motors. Unlike hydraulic pumps or induction motors, which remain in use, the servo motors are switched on and off during their operation for a less power usage (saving up to 65%).
– These servo motors, due to their brushless design, have catered to applications across harsh and demanding sectors, such as food and beverage applications (where motors have to cope with washdown and temperature fluctuations), defense applications (where high shock loads and temperature ranges are seen while high performance is required), and subsea and oil and gas applications (where high pressures and temperatures are seen).
– As the range of applications expands beyond conventional industrial equipment, such as energy-saving equipment, mobile equipment, and medical and nursing care equipment, local vendors upgrade their design and functions. For instance, in February 2020, Kollmorgen�s launched a 2G Motion System.
– The servo solution is being based on the latest thinking about single-source, system-based design. It harnesses the performance capabilities of Kollmorgen�s AKD2G servo drive and AKM2G servo motor. With the motor and drive precisely matched in every element (e.g., drive switching frequency, commutation algorithms, and motor magnetics), it avoids micro-incompatibilities that can occur when engineers select components from various manufacturers.
– On the supplier front, applied motion products increased the acceptance of MDX Integrated servo motors. The certification assures users in the United States that the motors meet high quality standards for electrical safety. Integrated�s motors were evaluated according to ANSI/UL standards 1004-1 Rotating Electrical Machines, 1004-6 Servo and Stepper Motors, and 61800-5-1 Adjustable Speed Drives. The certifications are noted under the UL file number E472271.
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–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: The Global Servo Motors And Drives Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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