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Europe Digital Servo Motors and Drives Market Trends

Report ID: GMI11741
Published Date: Oct 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

Europe digital servo motors and drives industry was valued at USD 1.6 billion in 2023 and is estimated to grow at a 7.3% CAGR from 2024 to 2032, driven by the rising demand for energy-efficient systems and stringent energy consumption regulations.

The AC drives segment is anticipated to exceed USD 2.3 billion by 2032, fueled by the widespread adoption of automation in industrial processes and a shift towards smart manufacturing practices.

Germany's digital servo motors and drives market is set to cross USD 500 million by 2032, driven by growing industrial automation and the implementation of digital systems to enhance productivity and operational flexibility.

Key players in the industry include ABB, Advanced Motion Controls, Aerotech, Allied Motion, Applied Motion Products, Beckhoff, Bosch Rexroth, Danfoss, Delta Electronics, and Elmo Motion Control.