DC Servo Motors and Drives Market
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The global DC servo motors and drives market size was valued at USD 4.6 billion in 2023 and the industry is set to grow at CAGR of 6.3% 2032.
Growing automation across the energy intensive sectors along with introduction of enhanced products and technologies to meet changing user demands will complement the business landscape. Flourishing investments in infrastructure have increased the demand for HVAC systems, which play a crucial role in optimizing energy output for various projects. Increasing the efficiency need leads to development of various improvements in the infrastructures with better resistance and smart controls, therefore promising a positive business potential.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| DC Servo Motors and Drives Market size in 2023: | USD 4.6 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 6.3 |
| 2023 Value Projection: | USD 8.1 Billion |
| Historical Data for: | 2021 - 2023 |
| No of Pages: | 80 |
| Tables, Charts & Figures: | 35 |
| Segments Covered: | Category, Application and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The encouraging plans supporting the market growth attributed to the rising technological advancements in industrial automation which are being driven by government policies on environmental sustainability. Along with the increasing demand for dependable and effective motor control systems across energy intensive industries, smart manufacturing is also increasing in importance in the industrial automation sector. For example, government initiative including Udyog Bharat 4.0 and SAMARTH are aiming to raise the understanding of Industry 4.0 in India’s manufacturing sector and solve issues pertaining to the automated material handling solutions. The greater emphasis on technology development and the adoption of the IIoT for system optimization and energy efficiency are set to drive the industry.
The analog segment is set to grow over USD 4.4 billion by 2032 and will gain significant momentum owing to increasing automation across manufacturing sector driven by the need for precise control and reliability in applications like robotics, CNC machines, and conveyor systems. Technological enhancements including improved performance and cost efficiency, are accelerating the adoption of these systems across diverse applications including aerospace and automotive for their demand for high-precision and high-speed operations further augmenting the analog servo motors & drives industry outlook.
The metal cutting & forming application is set to witness a CAGR of over 5% through 2032. Rising demand for advanced technological machinery in metal cutting is surging across various industries, including iron & steel, driven by the need for precision have accelerated the product demand. The ability of these units to provide precise motion control and speed and optimize industrial operations, will augment the business landscape. Furthermore, expansion of advanced manufacturing facilities and processes along with increasingly adoption of these units to boost output, flexibility, and production quality, will further shape the industry dynamics.
The Asia Pacific DC servo motors and drives market is set to grow at USD 3.4 billion in 2032. Rapidly growing population, flourishing investments for energy intensive industries along with shifting focus on enhancing motor control is set to complement the business landscape. Stringent regulations focused on boosting energy efficiency along with increasing energy consumption, expanding industrial automation and robotics across various industries will positively influence the industry outlook. Moreover, paradigm shift toward adopting enhanced automation solutions, focused at improving productivity and flexibility, will shape the business dynamics.
Key manufacturers operating in the DC servo motors and drives industry are actively pursuing strategic partnerships, introducing new products, focusing on mergers and acquisitions to strengthening their position in the industry. Fuji Electric Co., Ltd., Siemens, Kollmorgen, Nidec Corporation, and Panasonic Corporation holds the majority of market share in the market.
Key industry players operating across industry include:
Market, By Category
Market, By Application
The above information has been provided for the following regions and countries:
Allied Motion, Inc, Applied Motion Products, Inc, AXOR IND. S.a.s, Bosch Rexroth Corporation, Fuji Electric Co., Ltd, Ingenia Cat S.L.U. among others.
Asia Pacific market is set to generate USD 3.4 billion by 2032, driven by a rapidly growing population, flourishing investments for energy intensive industries along with shifting focus on enhancing motor control.
The metal cutting & forming segment of the DC servo motors and drives market is set to witness over 5% CAGR through 2032, driven by the rising demand for advanced technological machinery in metal cutting.
The market size for DC servo motors and drives was valued at USD 4.6 billion in 2023 and is set to grow at CAGR of 6.3% 2032, owing to growing automation across the energy-intensive sectors.