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Analog Servo Motors and Drives Market Trends

Report ID: GMI7891
Published Date: Jan 2024
Report Format: PDF

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Analog Servo Motors and Drives Market Trends

The analog servo motors and drives industry is set to observe positive uptake on account of the continuous technological advancements in industrial automation coupled with the implementation of stringent government regulations keeping a check on carbon footprint & energy efficiency. Various administrative bodies are continuously focusing on integrating advanced production technologies contributing to the significant momentum in this market. For instance, in November 2022, the U.S. Department of Energy (DOE) introduced a funding worth USD 2 million in association with the Clean Energy Smart Manufacturing Innovation Institute (CESMII). The initiative is aimed at aiding manufacturing companies to shift towards smart manufacturing processes and technologies to boost energy savings, productivity, and competitiveness primarily across energy-intensive verticals. Moreover, relatively simple design & operation, enhanced robustness & reliability, durability, and cost-effectiveness are among the key factors completing the industry outlook.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

Industry size for analog servo motors and drives was estimated at above USD 10.2 billion in 2023 and will record a growth rate of 6.7% through 2032, owing to the growing integration of automation & robotics technologies across industrial operations.

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.

Asia Pacific analog servo motors and drives market was valued at above USD 4.6 billion in 2023 and will keep growing through 2032, backed by the expansion of new manufacturing units, and positive outlook towards deployment of robotics & automation.

ABB, Yaskawa America, Inc., Analog Devices, Inc., WEG, Applied Motion Products, Inc., Bosch Rexroth Corporation., Siemens., Danfoss, Delta Electronics, Inc., Schneider Electric., Hitachi Industrial Equipment Systems Co., Ltd., Rockwell Automation., KEB Automation, Omron Corporation., Mitsubishi Electric Corporation and Nidec Motor Corporation.