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Premium Report Details
Base Year: 2023
Companies covered: 19
Tables & Figures: 12
Countries covered: 8
Pages: 80
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Europe Digital Servo Motors and Drives Market
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Europe Digital Servo Motors and Drives Market Size
Europe digital servo motors and drives market size was valued at USD 1.6 billion in 2023 and is estimated to grow at a CAGR of 7.3% from 2024 to 2032. Significantly expanding demand for energy-efficient systems along with the implementation of stringent regulations on energy consumption will complement the business landscape. Growing adoption of energy-efficient systems and stringent mandates toward enhancing the energy efficiency of industrial processes will positively influence the business outlook.
Increased investments in infrastructure development have boosted the demand for enhanced motor control systems that optimize energy output, offering precise motor speed control, improved process control, and automation augmenting the business outlook. For instance, in July 2024, The European Commission unveiled the sixth investment package under the EU's Economic and Investment Plan for Western Balkans, which is projected to mobilize USD 1.34 billion (EUR 1.2 billion) in investments. This package will support eight new flagship initiatives in water supply and sanitation, wastewater treatment, rail transport, and innovation and green transformation for small and medium enterprises.
Europe Digital Servo Motors and Drives Market Trends
Europe digital servo motors and drives industry is anticipated to witness significant growth owing to continuous technological advancements in industrial automation and stringent government regulations promoting environmental sustainability. Ongoing expansion of smart manufacturing and supportive policies for industrial development will complement the industry landscape.
For instance, in July 2024, The European Bank for Reconstruction and Development and European Union have established a joint facility to invest in raw materials exploration. This USD 111 million initiative aims to support EU's green and digital transition, develop sustainable projects, secure industrial resource supply while adhering to EU standards. Moreover, growing adoption of IIoT and increased focus on technological advancements to optimize system and improve energy efficiency will positively influence the business dynamics.
Europe Digital Servo Motors and Drives Market Analysis
AC drives segment is anticipated to grow over USD 2.3 billion by 2032. Widespread adoption of automation in industrial processes along with paradigm shift towards smart manufacturing practices, which prioritize improved productivity and reliability, is fueling the demand for precise and robust control systems. Growing inclination to enhance energy efficiency, decrease mechanical wear on motors and equipment, and improved control in various industrial applications will augment the AC servo motors and drives industry landscape.
Metal cutting & forming segment is set to witness significant a CAGR of over 6% through 2032. Increasing demand for lightweight, high-strength metals in aerospace and automotive industries, coupled with accelerated investment in industrial development, is positively influencing the industry outlook. Growing adoption of smart and enhanced manufacturing processes that require specific metal forming and cutting to ensure precise dimensions and finishing will augmenting the product demand. Automation integration enhances production quality and reduces output time, mitigating risks in metal cutting operations, improve operational flexibility through accurate angular movements which is set to accelerate the product deployment.
Germany digital servo motors and drives market is set to cross USD 500 million by 2032. Growing industrial automation and focus to enhance productivity and operational flexibility along with implementation of digital systems to streamline industrial processes and boost overall efficiency will complement the business landscape. Supportive policies by respective authorities aimed at promoting industrial development and the implementation of Industry 4.0, will complement the industry landscape. For instance, in April 2024, in April 2024, the European Commission endorsed a USD 2.6 billion initiative across Germany to promote industrial decarbonization. This scheme, approved under the State Aid Temporary Crisis and Transition Framework, supports Green Deal Industrial Plan and aims to expedite the shift towards cleaner industrial practices.
Europe Digital Servo Motors and Drives Market Share
Key players in the Europe market, including ABB, Fuji Electric, Mitsubishi Electric, Siemens, Rockwell Automation, and Yaskawa, hold a significant market share. These companies are actively pursuing strategic partnerships, collaborations, and mergers to enhance their market presence. Additionally, these manufacturers are investing in product innovation and expanding production capacity, contributing to overall industry growth.
Europe Digital Servo Motors and Drives Market Companies
Some of the key players operating across the industry includes:
Europe Digital Servo Motors and Drives Industry News
Europe digital servo motors and drives market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” and “'USD Million” from 2021 to 2032 for the following segments:
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Market, By Drive
Market, By Application
The above information has been provided for the following countries: