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Servo Drives Market Trends

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

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Servo Drives Market Trends

The servo drives industry is anticipated to grow owing to continuous advancements in industrial automation, rising demand for efficient motor & motion control solutions and government regulations promoting environmental responsibility. Increasing focus on innovative enhancements and the incorporation of IIoT technologies, objecting to boost the system efficiency and reduce energy consumption, positively influencing industry dynamics.

For instance, in May 2023, Siemens introduced a new servo drive system including the Sinamics S200, suitable for industries such as battery and electronics manufacturing. This system combines precise servo drives, robust motors, and easy-to-use cables to deliver high-performance capabilities. Moreover, accelerating investments in industrial development and the emphasis on reducing energy consumption are augmenting the market outlook.

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.