Servo motors are high performance electric motors having characteristics such as controlling the movement of machines. In addition, servo motors offer easy installation and no maintenance cost. Increasing electricity prices and stringent electricity utilization standards are driving the demand for energy efficient motors globally. The market of servo drives and motors is expected to grow at a slower pace in North America and Europe region. The demand for servo drives and motors is expected to rise due to the replacement of out-dated low efficient electric motors with highly efficient servo drives and motors. In addition, the strict energy consumption regulations and environment protection acts as the key factors that are driving the servo drives and motors market globally.
The growth of servo drives and motors market is primarily attributed to positive economic outlook and growing manufacturing industries in India, China, South Korea, Indonesia, Japan and several other countries in Asia-Pacific region. The increasing demand for energy efficient motors causes the shift from standard energy efficient electric motors to premium energy efficiency motors. This shift in trend is directly contributing to revenue growth of servo drives and motors manufacturers.
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This market research study analyzes the servo drives and motors market on a global level, and provides estimates in terms of revenue (USD billion) from 2014 to 2020. The report identifies the drivers and restraints affecting the market and analyzes their impact over the forecast period. In addition, it identifies the significant opportunities for market growth in the coming years.
The report segments the market on the basis of geography as North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue (USD billion). Moreover, the report segments the market based on types as servo drives and servo motors. The market has been further segmented based on different types of servo drives such as AC servo drives, DC servo drives and adjustable speed. Servo motors are further segmented into AC servo motors, DC brushless, brushed DC and linear servo motors. Furthermore, the market is segmented on the basis of application which includes automotive, semiconductor and electronics, material handling, food processing, healthcare and others. Among all the application segments, automotive segment holds the largest market share at present in the servo drives and motors market. All these segments have also been estimated on the basis of geography in terms of revenue (USD billion).
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Asia Pacific represents the largest market for servo drives and motors. In 2014, Asia Pacific accounted for more than 40% revenue share in the global servo drives and motors market. The region is expected to be the fastest growing region due to significant growth in GDP of countries such as India, South Korea, China, Singapore, Taiwan and several others. In addition, positive growth prospects in GDP of these countries will help the region to remain market leader in servo drives and motors in coming few years.
For better understanding of servo drives and motors market, we have given a detailed analysis of the supply chain. In addition, a detailed Porter’s five forces analysis has been given for a better understanding of the intensity of the competition present in the market. Furthermore, the study comprises a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness.
The report provides company market share analysis of the various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies and recent developments in the field of servo drives and motors. Major market participants profiled in this report include Siemens AG, Baldor Electric Company, Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Rockwell Automation Inc., Schneider Electric S.E, Emerson Electric Co., Parker Hannifin Corporation, Nidec Corporation and ABB Ltd. among others.
1.1 Market segmentation
The servo drives and motors market is segmented as below:
Servo Drives and Motors Market: by Type
- AC servo drives
- DC servo drives
- Adjustable speed
- AC servo motors
- DC brushless
- Brushed DC
- Linear servo motors
Servo Drives and Motors Market: by Application
- Semiconductor and electronics
- Material handling
- Food processing
Servo Drives and Motors Market: by Geography
- North America
- Rest of the World
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.