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Digital Servo Motors and Drives Market Size

Report ID: GMI7544
Published Date: Oct 2024
Report Format: PDF

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Digital Servo Motors and Drives Market Size

The global digital servo motors and drives market size in 2023 was valued at USD 8.5 billion and is estimated to grow at a CAGR of 6.7% from 2024 to 2032, due to the increasing emphasis on energy-efficient systems and the implementation of energy consumption regulations.

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The surge in infrastructure development investments has led to a higher demand for HVAC systems, which play a crucial role in optimizing energy output in buildings. These systems contribute to industry expansion through their capacity to deliver precise motor speed control, resulting in energy conservation, enhanced process management.

Digital Servo Motors and Drives Market Report Attributes
Report Attribute	Details
Base Year:	2023
Digital Servo Motors and Drives Market Size in 2023:	USD 8.5 billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.7%
2032 Value Projection:	USD 15.4 Billion
Historical Data for:	2021 - 2023
No. of Pages:	110
Tables, Charts & Figures:	721
Segments covered:	Drive, Application, and Region
Growth Drivers:	Stringent energy efficiency directives by respective authorities Ongoing expansion of heavy-duty industrial operations Positive outlook towards industrial automation
Pitfalls & Challenges:	High initial cost coupled with the availability of other products

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Rising investments in infrastructure development have driven demand for advanced motor control systems will add to the industry growth. These systems optimize energy output, provide precise motor speed control, and enhance process control and automation, contributing to a positive market outlook. For instance, in May 2023, MOVENSYS Inc. and Mitsubishi Electric Corporation unveiled a collaborative venture to strengthen their respective positions in the motion control and AC servo sector. The partnership involves Mitsubishi Electric acquiring a stake in Movensys, as outlined in their agreement. This strategic move is designed to integrate Movensys' technological prowess and product innovation capabilities with Mitsubishi Electric's established presence, aiming to bolster the latter's AC servo business.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The global market size for digital servo motors and drives was valued at USD 8.5 billion in 2023 and is expected to reach USD 15.4 billion by 2032, driven by a CAGR of 6.7% from 2024 to 2032.

The digital servo motors and drives industry from metal cutting & forming segment is projected to observe a substantial growth rate of over 5% through 2032, driven by advancements in technology and the increasing demand for efficiency and precision.

U.S. market is anticipated to surpass USD 2.8 billion by 2032, driven by the ongoing shift towards industrial automation.

Major players in the industry include ABB, Beckhoff Automation, Bosch Rexroth, CM Robotics, Dai-ichi Dentsu, Danfoss, Delta Electronics, Emerson Electric, Fuji Electric, Hitachi, Mitsubishi Electric, Promess, Rockwell Automation, Schneider Electric, Siemens, Sprint Electric, and WEG.