Home > Semiconductors & Electronics > Automation > Industrial Automation > North America Digital Servo Motors and Drives Market
North America Digital Servo Motors and Drives Market Size
North America Digital Servo Motors and Drives Market was valued at USD 2.1 billion in 2023 and is anticipated to witness about 6.9% CAGR from 2024 to 2032. Rising demand for energy-efficient systems across various industrial operations along with stringent regulatory mandates toward energy consumption. Flourishing investments in infrastructure are boosting the need for HVAC systems, to optimize energy output, precise motor speed and enhanced process control, are driving the industry growth.
For instance, as of February 2024, annual investment in new manufacturing facilities reached nearly USD 225 billion, driven by bipartisan infrastructure and Democratic initiatives in clean energy and manufacturing. The convergence of efficiency demands, infrastructure development, and consumer preferences for advanced units are shaping the industry's landscape.
Report Attributes | Details |
---|---|
Base Year: | 2023 |
Market Size in 2023: | USD 2.1 Billion |
Forecast Period: | 2024 - 2032 |
Forecast Period 2024 - 2032 CAGR: | 6.9% |
2032 Value Projection: | USD 3.9 Billion |
Historical Data for: | 2021 - 2023 |
No. of Pages: | 75 |
Tables, Charts & Figures: | 32 |
Segments covered: | Drive, Application and Country |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
North America Digital Servo Motors and Drives Market Trends
The digital servo motors and drives industry is set to observe substantial growth owing to ongoing inclination for digital transformation along with the shift to Industry 4.0 and increased automation. Furthermore, increasing emphasis on technological advancements, coupled with introduction of the industrial internet of things to achieve optimized system sizing and enhance energy efficiency, will contribute to the industry expansion.
North America Digital Servo Motors and Drives Market Analysis
The AC drives market is anticipated to cross USD 3 billion by 2032. Growing automation across several industrial processes along with rising integration of enhanced machine infrastructure across manufacturing facilities to increase efficiency has influenced the business dynamics. Paradigm shift toward adoption of smart manufacturing with a focus on increased productivity and reliability is propelling the need for these accurate and dependable systems further propelling the digital AC servo motors and drives industry outlook.
The metal cutting & forming applications is set to witness over 6% of CAGR through 2032. Increasing demand for lightweight, high-strength metals in industries like aerospace and automotive along with accelerated investment for industrial development will positively influence the industry outlook. Rising adoption of smart manufacturing processes across industries that require specific cutting & metal forming to ensure precise dimensions and finishing on metal parts will further accelerate the product demand.
Shifting inclination toward the use of industrial automation solutions across automotive and other manufacturing applications, driven by the need to increase productivity and flexibility, will enhance the business dynamics. Increasing energy consumption across industries, together with continued efforts to decrease production costs, increase profitability, are some of the primary factors influencing the industry landscape.
The U.S. digital servo motors and drives market is projected to surpass USD 2.8 billion by 2032. Stringent regulations toward enhancing the energy efficiency & security, rapidly growing energy consumption, and accelerating investments across industrial automation and robotics have positively influenced the industry landscape. For instance, according to the International Federation of Robotics, manufacturing enterprises in the U.S. have invested extensively in automation including total industrial robot installations increased by 12% to 44,303 units in 2023. The automotive industry is the leading adopter, followed by the electrical and electronics sector. Moreover, rapid integration of advanced machine infrastructure into manufacturing plants to improve efficiency, combined with widespread usage of new technological systems, is set to augment the industry landscape.
North America Digital Servo Motors and Drives Market Share
Eminent manufacturers operating across the North America digital servo motors and drives industry are aiming to make strategic alliances, collaborations, partnerships and mergers and acquisitions to increase their competitive edge over the other competitors. Major manufactures including ABB, Danfoss, Bosch Rexroth Corporation, Emerson Electric Co., Yaskawa America Inc., and Rockwell Automation among others holds the majority of the market share.
North America Digital Servo Motors and Drives Market Companies
Major key players are:
- ABB
- ADVANCED Motion Controls
- Aerotech, Inc.
- Applied Motion Products, Inc.
- Beckhoff Automation
- Bosch Rexroth Corporation
- Danfoss
- Delta Electronics, Inc.
- Elmo Motion Control Ltd.
- Emerson Electric Co.
- Geckodrive
- Kollmorgen
- Rockwell Automation
- Schneider Electric
- Teknic, Inc.
- WEG
- YASKAWA America Inc.
North America Digital Servo Motors and Drives Industry News
- In January 2024, Siemens released updates for the SINAMICS S210 servo motor and drive unit, enhancing precision, safety, and compatibility. These updates integrate the product into the company’s DriveSim simulation software for pre-hardware commissioning. Additionally, a digital twin can be created in TIA portal programming software along with the unit features a web server interface for commissioning, diagnostics, and maintenance.
- In October 2023, Applied Motion Products Inc. introduced the SV200 Digital servo drives & J Series servo motors. These drives feature customizable filters, an anti-vibration algorithm, and auto-tuning to enable smooth motion and precise positioning for the extremely demanding applications, as well as an easy way to configure the drive. These systems come in the power ranges of 200W, 400W, and 750W.
This North America 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:
Click here to Buy Section of this Report
Market, By Drive
- AC Drive
- Dc Drive
Market, By Application
- Oil and Gas
- Metal Cutting & Forming
- Material Handling Equipment
- Packaging and Labelling Machinery
- Robotics
- Medical Robotics
- Rubber & Plastics Machinery
- Warehousing
- Automation
- Extreme Environment Applications
- Semiconductor Machinery
- AGV
- Electronics
- Others
The above information has been provided for the following countries:
- U.S.
- Canada
- Mexico
Frequently Asked Questions (FAQ) :