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Asia Pacific Digital Servo Motors and Drives Market Size
Asia Pacific Digital Servo Motors and Drives Market was estimated at USD 3.4 billion in 2023 and is projected to attain a growth rate of 6.1% through 2032. Rapid adoption of Industry 4.0, ongoing automation across various industries, continuous efforts to accelerate digital transformation will complement the industry landscape.
Growing automobile industry along with the accelerating investments for infrastructure development is expected to drive product demand. For instance, as per the government of India, all states in the country reported that FDI equity inflows totaling approximately USD 20.8 billion were made in manufacturing sector between October 2019 and December 2023. Furthermore, ongoing industrialization and increased need for precise motor control across several industrial applications will further augment the business dynamics.
Mention the key players involved in the digital servo motors and drives industry?
ABB, ADVANCED Motion Controls, Aerotech, Allied Motion, Inc., Applied Motion Products Inc., Beckhoff Automation, Bosch Rexroth Corporation, Danfoss, Delta Electronics, Inc., Elmo Motion Control Ltd., Fuji Electric Co., Ltd, and KEB Automation among others.
How big is China digital servo motors and drives industry?
China digital servo motors and drives market value is set to reach over USD 2.2 billion by 2032 owing to the ongoing expansion in the manufacturing sector, along with rising demand for energy efficient systems across industrial applications
Why is the demand for AC digital servo motors and drives growing in Asia Pacific?
AC drives segment in the Asia Pacific digital servo motors and drives market is set to generate over USD 4 billion by 2032 due to growing automation across variety of industrial applications along with introduction of industry 4.0.
What is the size of Asia Pacific digital servo motors and drives industry?
Asia Pacific servo motors and drives market size was estimated at USD 3.4 billion in 2023 and is projected to record a 6.1% CAGR through 2032 due to ongoing automation across various industries.