30-July-2019: The global servo motor
market size is expected to attain a market size of USD
14.4 billion by 2025, registering a CAGR of 6.4% over the forecast period,
according to a new report by Grand View Research, Inc. Servo motors help reduce
operating time and save costs of inventory processes and manufacturing.
Development of efficient and advanced automation technologies, easy integration
and use of motion control components in motors, and increased adoption of
energy-efficient international standards are prime growth drivers of the
market. Rising demand for energy-efficient motors has resulted in a shift from
standard energy-efficient electric motors to premium ones. This shift in trend
is directly contributing to rising demand for servo motors as well revenue growth
of motor manufacturers.
Technological
advancements in the servo motors market have been focused on reducing the
weight and size of motors and increasing the torque. The latter has been
achieved with the use of rare earth magnets. Suppliers such as GE Fanuc have
introduced motors offering a high and continuous torque rating for use in
applications such as injection molding. Additionally, Yaskawa Electric
Corporation is focusing on winding techniques and improvements in high-energy
product magnet materials. To keep prices stable, production techniques are
becoming increasingly important. Just-in-time manufacturing is being widely
used and production of servo motors is itself automated.
The market
environment has become favorable for advanced technologies with users
increasingly investing in designs that offer greater performance and
reliability as well as higher efficiency. Greater customer confidence and
understanding of these benefits has boosted demand for servo motors.
Additionally, manufacturers are focusing on value-added and improved
profitability as a means to maintain their competitiveness. This has led
customers investing large amounts in newer and more advanced technologies such
as servo motors.
Factors such as
volatile prices and availability of raw materials, easy availability of
substitute motors, and complex manufacturing processes are key restraints to
market growth. However, declining prices of and increasing demand for servo
motors are expected to lead to steady market growth.
In
depth research report on Servo Motor Market
Further key findings from the report suggest:
·
The servo motors market is anticipated to register a CAGR of
6.4%. Growth can be attributed to increasing focus on construction activities
and infrastructure development, thus necessitating the replacement of old
motors with new energy-efficient ones
·
DC motors are commonly used in automotive, metal processing,
and HVAC industries as they help manufacturers in efficiently utilizing energy
and meeting rising demand for cost optimization
·
The flourishing automotive industry and advantages offered by
these devices such as reduced size, high accuracy and speed, higher torque, and
lightweight machines are driving the market across the automotive sector
·
Servo motors are also used for automation in industrial
processes, resulting in fewer errors, high throughput, lower manpower
requirement, and reduced cost
·
Asia Pacific is expected to witness the highest and fastest
growth over the forecast period. Factors such as positive economic outlook,
growing manufacturing industries, and increasing production and sales of
electric vehicles are expected to drive demand in this region
·
Companies are focusing on expanding their market presence
through mergers and acquisitions and are increasingly investing in research and
development activities to improve their product offerings.
Grand View Research
has segmented the global servo motor market on the basis of motor type,
application, and region:
Servo Motor Type Outlook (Revenue, USD Million, 2014 - 2025)
·
AC motor
·
DC motor
Servo Motor Application Outlook (Revenue, USD Million, 2014 -
2025)
·
Industrial Machinery
·
Motor Vehicles
·
HVAC Equipment
·
Aerospace & Transportation
·
Household Appliances
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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