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 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.

Key Market Players:

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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This research report categorizes the servo motors and drives market by Offering, Product type, Voltage, System type, Brake technology, Communication type, Material of Construction, End-user and Region

On the basis of offering type:

• Hardware
• Software and Services

On the basis of product type:

• Servo Motors
• Servo Drives

On the basis of voltage:

• Low Voltage
• Medium Voltage
• High Voltage

On the basis of by system type:

• Linear
• Rotary

On the basis of by brake technology:

• Spring
• Permanent magnet
• Others

On the basis of by communication type:

• Fieldbus
• Industrial Ethernet
• Wireless

On the basis of by material of construction:

• Stainless steel
• Others

On the basis of by end user:

• Automotive and transportation
• Semiconductor and Electronics
• Food Processing
• Textile
• Petrochemical
• Pharmaceutical and Healthcare
• Packaging
• Printing and Paper
• Others

On the basis of region:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• South America

Market by brake technology, the permanent magnet segment has the largest share of the global servo motors and drives market owing to the ease in the operations in the industries. The presence of permanent magnets helps these brakes offer high power density. This makes them useful for applications requiring almost zero backlashes, such as pick-and-place robots and medical applications. The operating principle of permanent magnet brakes helps them resist abrasion making them suitable for robots and handling equipment. These advantages are pushing the permanent magnet segment.

Market by Region, Europe is expected to dominate the second largest segment in the global servo motors market during forecast period. The servo motors and drives market in Several European countries align their manufacturing processes with the International Electrotechnical Commission (IEC) standards. The IEC develops international standards for adoption by companies in the field of electrotechnology. These standards ensure that the companies adopt such ways of manufacturing, which lead to the electrical energy optimization of their manufacturing processes. Energy-efficient servo motors and drives ensure that these companies pertain to IEC standards. The role of servo motors and drives in various advanced process control systems and robots to facilitate factory automation has been widely recognized throughout Europe in electronics, automotive, semiconductor, and other industries. Furthermore, various developments in the automotive industry, such as autonomous vehicles, hybrid vehicles, and unmanned ground vehicles (UGV), are expected to increase the demand for servo motors and drives.

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Recent Developments

• In July 2022, Yaskawa launched JL-L000A communications ASIC for supporting MECHATROLINK-4, which is a new-generation industrial network for achieving four times the transmission efficiency. This communication interface will be compatible with the controllers and servo packs.
• In April 2021, Siemens introduced new servo motors to its Sinamics S210 single-cable servo drive system suitable for a wide range of applications, especially for use in the pharmaceutical and food industries.
• In October 2021, Rockwell Automation launched an NSF-certified HMI terminal for operators to monitor production and new hygienic servo motors named Kinetix VPH hygienic servo motors for minimizing contamination risks in food and pharmaceutical industries.