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Asia Pacific AC Servo Motors and Drives Market Trends

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

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Asia Pacific AC Servo Motors and Drives Market Trends

Asia Pacific AC servo motors and drives industry is set to grow, driven by technological advancements in industrial automation and stringent government regulations promoting environmental sustainability. The rise of smart manufacturing and supportive reforms for industrial growth further bolster these market dynamics. For instance, The Australian government, through its Powering Australia initiative, has set ambitious targets. These include alleviating energy bills, transitioning to clean energy to cut emissions. Furthermore, the government has committed to 43% reduction in emissions by 2030, with long-term goal of achieving net-zero emissions by 2050. Moreover, the surge of Industrial Internet of Things and increasing focus on technological innovations aimed at optimizing system sizing and enhancing energy efficiency is set to positively influence the industry's outlook.

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.