Servo Motors/Drives Market to 17.2 Million Units by 2018

According to new market research, published by MarketsandMarkets: "Servo Motors and Drives Market: By Type (AC Servo Motors/Drives, DC Servo Motors/Drives, Brushless Servo Motors), Voltage Range (Low Voltage, Medium Voltage), Components (Sensors, Controller Modules, Encoders, Amplifiers) and Application - (2013 – 2018)," the total market is expected to reach total shipments of 17.2 million units by 2018, growing at an estimated CAGR of 6%. 

Implementation of automation tools in application industries have resulted in reducing operations time, and saving the cost incurred in manufacturing and inventory process. Due to the advancement in technology, servo system has increased its scope with the integration of hardware and software. Technological advancements in servo systems have spurred the end users’ interest and witnessed a growth rate during the last few years. Due to the increased features and functionalities in application market, servo motors and drives are now being used in areas where it was confined. Growth in servo motors and drives market is driven by various applications such as packaging machines, semiconductors, food-processing, machine tools however the markets such as healthcare, robotics, and others are showing strong opportunities in this market.

The major companies include Yaskawa Electric (Japan), Siemens AG (Germany), Mitsubishi Electric Corporation (Japan), Rockwell Automation (U.S.), Schneider Electric (France), Rockwell Automation (U.S.), Baldor Electric (U.S.), Fanuc (Japan), and others.

This report describes the market trends, drivers, and challenges with respect to the servo motors & drives market and forecasts the market to 2018, based on components, product types, voltage range, applications, and geography. This report covers geographies like the North America, Europe, APAC, and ROW (Rest of the World). APAC is the largest market for servo motors & drives in terms of revenues as well as unit shipments. APAC has been also identified as the fastest growing region, with China leading the way. Europe and Americas also sound promising, with Brazil, Germany, and the U.S. providing impetus to the growth.

The competitive landscape of the market presents a very interesting picture, where large number of small players has become a force to reckon with. The market is witnessing large scale collaboration and partnership across the value chain apart from numerous consortiums being formed.