According to a new report, published by KBV research, The Global Servo Motors Market size is expected to reach $17.8 billion by 2030, rising at a market growth of 5.3% CAGR during the forecast period.
In the dynamic landscape of industrial automation, these motors have emerged as indispensable components driving precision, efficiency, and innovation across many industries. From manufacturing and robotics to automotive and aerospace, these motors play a pivotal role in powering machinery and equipment, enabling precise motion control and enhancing productivity. The applications of these motors span across a diverse spectrum of industries and use cases, where their precision, reliability, and responsiveness are essential for achieving optimal performance. In the automotive sector, these motors play a critical role in electric power steering systems, drivetrains for electric vehicles (EVs), and advanced driver-assistance systems (ADAS), enabling precise control over vehicle dynamics and enhancing safety.
The Rotary segment is registering a CAGR of 5% during the forecast period. Advancements in robotics, machine vision, and additive manufacturing are driving the need for high-performance rotary servo motors. These motors are integral components in robotic arms, CNC machines, 3D printers, and other advanced automation systems, enabling intricate motion control and positioning accuracy. Hence, these factors can lead to increased demand in the segment.
The AC Servo Motor segment led the Global Servo Motors Market by Type in 2022; thereby, achieving a market value of $14.3 Billion by 2030. The ongoing adoption of Industry 4.0 principles and smart manufacturing initiatives drives demand for advanced automation solutions, including AC servo motors. These motors are integral components in precision motion control systems, robotic applications, and industrial machinery, enabling manufacturers to achieve higher productivity, efficiency, and flexibility in their operations. Hence, these factors can assist in the growth of the segment.
The Robotics segment is growing at a CAGR of 4.8 % during the forecast period. The worldwide robotics industry is experiencing rapid growth, and the demand for servo motors is expected to grow in parallel. For example, as per the State Council of China, the country's manufacturing robot density, which measures a nation's level of automation, was 246 per 10,000 people in 2020, about double the average for the world. Therefore, owing to these factors, the segment will witness increased demand in the upcoming years.
Full Report: https://www.kbvresearch.com/servo-motors-market/
The Asia Pacific region dominated the Global Servo Motors Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7 Billion by 2030. The North America region is anticipated to grow at a CAGR of 4.7% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 5% during (2023 - 2030).
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