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Servo Drives Market Size

Report ID: GMI4204
Published Date: Nov 2024
Report Format: PDF

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Servo Drives Market Size

The global servo drives market size in 2024 was valued at USD 2.3 billion and is estimated to grow at a CAGR of 3.7% from 2025 to 2034.

servo drives market

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Rising demand for precise and efficient motor control solutions, favorable initiatives supporting digitalization and ongoing industrial infrastructure development will complement the business landscape. Continuous technological advancements across these units including enhanced AI capabilities and faster response times, making them crucial for automated systems further fueling the product adoption.

Servo Drives Market Report Attributes
Report Attribute	Details
Base Year:	2024
Servo Drives Market Size in 2024:	USD 2.3 Billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	3.7%
2025 – 2034 Value Projection:	USD 3.4 Billion
Historical Data for:	2021 – 2024
No. of Pages:	110
Tables, Charts & Figures:	34
Segments covered:	Drive, Category, Application, and Region
Growth Drivers:	Stringent energy efficiency directives by respective authorities Ongoing expansion of industrial operations and growing automotive sector Increasing momentum across energy-intensive industrial operations
Pitfalls & Challenges:	High upfront cost

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Increasing investments for industrial development and ongoing technological advancements have led to a surge in demand for high-precision position control systems with disturbance rejection capabilities, and fast-tracking behaviors, augmenting the industry outlook. For instance, in July 2024, the U.S. Department of Commerce unveiled a plan to strengthen innovative packaging of semiconductors across the country. The CHIPS for America program will distribute USD 1.6 billion into five key R&D areas, offering grants of approximately USD 50 million each. This initiative, part of the National Advanced Packaging Manufacturing Program, aims to foster collaboration between industry, academia, and government to enhance U.S. semiconductor capabilities.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The global market size for servo drives was valued at USD 2.3 billion in 2024 and is expected to reach USD 3.4 billion by 2034, driven by a CAGR of 3.7% from 2025 to 2034.

The AC drive segment is anticipated to grow to over USD 2.4 billion by 2034, driven by its ability to manage high current surges and operate independently from a power source.

The U.S. market is projected to exceed USD 330 million by 2034, driven by energy efficiency regulations and the growth of industrial automation and robotics.

Major players in the industry include ABB, Advanced Motion Controls, Beckhoff Automation, C&M Robotics, Danfoss, DMM Technology, Delta Electronics, Kollmorgen, KEB Automation, Leadshine, Mitsubishi Electric, and Nidec Motor.