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Asia Pacific AC Servo Motors and Drives Market Size

Report ID: GMI11556
Published Date: Sep 2024
Report Format: PDF

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Asia Pacific AC Servo Motors and Drives Market Size

Asia Pacific AC Servo Motors and Drives Market was evaluated at USD 6 billion in 2023 and is set to experience a CAGR of 6.3% between 2024 and 2032.

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The rapid adoption of Industry 4.0, coupled with widespread automation and a relentless push for digital transformation, is reshaping the industry landscape. Introduction of enhanced technologies, including the Internet of Things (IoT), artificial intelligence, and advanced robotics, are driving efficiency and innovation across various sectors complementing the business outlook. For instance, in July 2024, Robot Technology Japan, a dedicated exhibition spotlighting industrial robots and automation systems held in the Aichi Sky Expo, Japan. Moreover, the expanding automobile sector and increasing demand for electric vehicles coupled with advancements in autonomous driving technologies are propelling the automotive industry forward.

Asia Pacific AC Servo Motors and Drives Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific AC Servo Motors and Drives Market Size in 2023:	USD 6 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.3%
2032 Value Projection:	USD 10.4 Billion
Historical Data for:	2021 - 2023
No. of Pages:	85
Tables, Charts & Figures:	12
Segments covered:	Category, Application, and Country
Growth Drivers:	Accelerating investments across industrial infrastructure and rising energy demand Rising deployment for energy efficient systems and introduction of emission standards
Pitfalls & Challenges:	High initial deployment cost

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Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

In 2023, the Asia Pacific AC servo motors and drives industry was valued at USD 6 billion and is expected to grow at a 6.3% CAGR by 2032, driven by the adoption of Industry 4.0 and automation.

The metal cutting & forming segment is projected to exceed USD 1.7 billion by 2032, fueled by the demand for advanced technologies in industries such as robotics, iron and steel, and automotive.

The digital segment is set to grow at a CAGR of over 6% through 2032, driven by rising automation, the advent of Industry 4.0, and the widespread use of AC motors in various industrial applications.

China's AC servo motors and drives market is expected to exceed USD 4 billion by 2032, supported by the growth in the manufacturing sector and the increasing demand for energy-efficient systems.

Prominent players in the market include ABB, Mitsubishi Electric, Panasonic Industry, Yaskawa Electric, Siemens, Rockwell Automation, and others, contributing to technological advancements and market expansion.