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Asia Pacific Digital Servo Motors and Drives Market Trends

Report ID: GMI10416
Published Date: Jul 2024
Report Format: PDF

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Asia Pacific Digital Servo Motors and Drives Market Trends

Asia Pacific digital servo motors and drives industry is anticipated to grow owing to ongoing technological developments in industrial automation, and strict government regulations that support environmental sustainability. Increasing smart manufacturing and favorable reforms pertaining toward industrial development will favor the business dynamics.

For instance, the government of India aims to increase the manufacturing sector's contribution to GDP from 16% to 25% by 2025. The Smart Advanced Manufacturing and Rapid Transformation Hub is the focal point of the Udyog Bharat 4.0 SAMARTH program, which supports this goal. Furthermore, growing industrial internet of things (IIoT) and increased attention to technological advancements to optimize system sizing and boost energy efficiency will positively impacting the industry outlook.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

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.

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.

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

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.