Analog Servo Motors and Drives Market Analysis

Analog Servo Motors and Drives Market Analysis

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Based on the drive, the industry is broadly bifurcated into AC drive and DC drive. AC drive industry is projected to grow at a rate of 6.8% through 2032 as the products are designed to control the frequency and voltage supplied to the servo motor, allowing for precise adjustment of motor speed and torque. In addition, the widespread adoption of the devices has observed significant expansion on account of optimized energy efficiency, enhanced operational features, and low mechanical wear & tear on the motor systems, among other advantages.
 

Semiconductor machinery segment is set to observe a growth of over 7.5% through 2032 attributed to the significant development of semiconductor manufacturing plants along with the mounting investments to boost the electric vehicle fleet requiring substantial semiconductor equipment. For instance, in January 2024, the India based conglomerate, Tata Group, announced its plans to invest and build a new semiconductor fabrication facility in the country over the coming months. The company further confirmed its plans to initiate construction of 20 GW battery storage factory in Gujarat over the same period generating new avenues for industry expansion.
 

Oil & gas analog servo motors and drives market is projected to surpass USD 950 million by 2032 on account of the growing integration of automation & remote operations across large-scale facilities. Moreover, continuous investment to boost production from conventional & unconventional hydrocarbon resources coupled with the discovery of various reserves will unveil new opportunities for industry expansion. For instance, in May 2023, the government of Türkiye confirmed to discover a coupled of new oil reserves in Cudi and Gabar with a total output capacity of about 100,000 barrels per day. In addition, the new breakthrough in the Gabar region is estimated to contribute to an annual input of about USD 2.9 billion to the nation’s hydrocarbon industry.
 

Asia Pacific analog servo motors and drives market was valued at above USD 4.6 billion in 2023 and is anticipated to observe a significant growth over the forecast period. The rapid growth across industrial infrastructures, expansion of new manufacturing units, and positive outlook towards deployment of robotics & automation are some of the key imperatives augmenting the Asia Pacific industry landscape. For instance, as per the data updated by the World Bank in December 2023, the total value added from manufacturing sector in China equaled over 4.9 trillion in 2022, observing a growth rate of around 28.9% over a couple of years from USD 3.8 trillion in 2020.
 

Analog servo motors & drives are extensively used in manufacturing and automation processes across industries such as automotive, electronics, consumer goods, and textiles, exhibiting sizeable deployment potential across the region. Moreover, the adoption of smart technologies, automation, and data exchange in manufacturing processes aimed to enhance efficiency, reduce costs, and improve overall competitiveness will further shape the industry dynamics.