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North America Digital Servo Motors and Drives Market Trends

Report ID: GMI9921
Published Date: Jun 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

North America digital servo motors and drives industry size was worth USD 2.1 billion in 2023 and is projected to expand at 6.9% CAGR from 2024 to 2032, led by the rising demand for energy-efficient systems across various industrial operations.

The AC drives segment in the North America digital servo motors and drives industry is projected to surpass USD 3 billion by 2032, due to the growing automation across several industrial processes.

The metal cutting & forming application segment in the North America digital servo motors and drives industry will grow at over 6% CAGR from 2024 to 2032, owing to the increasing demand for lightweight, high-strength metals in industries like aerospace and automotive.

U.S. digital servo motors and drives market is anticipated to record more than USD 2.8 billion by 2032, on account of the stringent regulations toward enhancing the energy efficiency & security and accelerating investments across industrial automation.