The global AC servo motors and drives market size is expected to showcase considerable growth by reaching USD 6.91 billion by 2032 while exhibiting a CAGR of 12.00% between 2020 and 2032. This is attributable to the increasing adoption of robots and smart machines that will propel the demand for advanced AC servo motors and drives worldwide. Fortune Business Insights in its latest report, titled, “AC Servo Motors and Drives Market Size, Share and Forecast, 2020-2032.”, mentions that the market stood at USD 6.80 billion in 2019.
The AC servo system that includes AC servo motors and drives is typically a closed-loop system that utilizes position feedback to control the motion, speed, and final position of the machines. Additionally, AC servo drive is a type of electric amplifier that is primarily used to control AC servo motors.
List of the Companies Profiled in the Global Market:
- ABB Group (Switzerland)
- Delta Electronics, Inc. (Taiwan)
- FANUC Corporation (Japan)
- Fuji Electric Co., Ltd. (Japan)
- Kollmorgen Corporation (The U.S.)
- Mitsubishi Electric Corporation (Japan)
- Nidec Corporation (Japan)
- Rockwell Automation, Inc. (The U.S.)
- Schneider Electric SE (France)
- Siemens AG (Germany)
- Yaskawa Electric Corporation (Japan)
Information Source:
https://www.fortunebusinessinsights.com/ac-servo-motor-market-103513
SEGMENTATION
Low Voltage Held 45.2% AC Servo Motors and Drives Market Share in 2019
Based on voltage range, the low voltage segment is expected to showcase considerable growth in the forthcoming years. This is ascribable to factors such as the growing utilization of low voltage servo motor for mobile robot application. The low voltage servo motor requires a low maintenance cost. The segment held a market share of about 45.2% in 2019.
REGIONAL INSIGHTS
Asia-Pacific to Remain Dominant; Growing Number of Manufacturing Industries to Aid Growth
Among all the regions, Asia-Pacific is expected to hold the highest position in the global AC servo motors and drives market in the forthcoming years. This is ascribable to factors such as the growing number of manufacturing units in countries such as South Korea, China, and Japan that will boost the adoption of advanced AC servo motors and drives in the region.
The market in Rest of the World is anticipated to experience significant growth backed by the growing adoption of industrial automation in the region between 2020 and 2027.
DRIVING FACTORS
Increasing Adoption of Industrial Robots to Augment Growth
As per the International Federation of Robotics, globally in 2019, about 373,240 industrial robot units valued at USD 13.8 billion were installed across several industrial applications. Out of it, 28% of robots were installed in the automotive industry and 24% in the electronics industry. The growing demand for industrial robots to speed up the industrial processes is expected to boost the demand for advanced AC servo motors and drives globally. Furthermore, the surging demand for innovative AC servo systems that provide smoother, flexible, and longer operational capability is anticipated to contribute to the global AC servo motors and drives market growth in the forthcoming years.
What does the Report Provide?
The global market for AC servo motors and drives report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis and PESTEL to obtain information about the current trends and industry developments that will drive the market growth in the forthcoming years.
COMPETITIVE LANDSCAPE
Significant Investment by Eminent Companies to Strengthen Their Market Positions
The global market is consolidated by the presence of major companies focusing to maintain a stronghold by investing in the development of innovative AC servo systems. In addition to this, other key players are adopting strategies such as merger and acquisition, facility expansion, and collaboration that will favor the market growth in the forthcoming years.
Industry Development:
In July 2020, Kollmorgen Corporation introduced a comprehensive motion package featuring a new servo motor, drive, and cable system. The package includes the AKD2G servo drive, 2G Motion System, and AKM2G single-cable servo motors. The AKD2G drive supports three key communication protocols: EtherCAT, CANopen, and Functional Safety over EtherCAT (FSoE). This integrated solution is designed to enhance machine performance and operational efficiency across a wide range of industrial applications.
