Servo motors are the most sophisticated motion control devices with advanced design methods, high-force magnet materials, and precise dimensional tolerance. The Servo motor market is one of the most lucrative markets in the automotive sector.

Increasing demand for high-performance motors, growing vehicle production worldwide and the positive outlook of manufacturing industries are the major factors responsible for the growth of global servo motors market . They are designed and intended to be used in motion control applications that involve exceptional performance, quick reversing, and high accuracy positioning.

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Additionally, they offer easy installation and involve no maintenance cost, thus driving their demand over the forecast period. The demand for industrial automation would continue to grow due to the increased requirements of high product quality, paired with expectations of equally high reliability in high volume production.

Lightweight machines, reduced size, increase in speed and higher torque are providing huge market opportunities. Reduced prices have grabbed the attention of manufacturer’s on the subjects such as advanced design, production techniques and production time.

AC Motor segment holds the largest market share of the overall servo motor market during the forecast period

AC Motor segment dominates the global servo market and projected to lead over the forecast period 2021-2027. AC motors are comparatively lighter and smaller and are generally used in HVAC equipment, industrial and home appliances, and manufacturing facilities. AC motor type endures higher current, used in in-line manufacturing, robots, and other industrial applications where high precision and repetition are required. They are more cost-effective as they incur negligible or no maintenance cost. Rapid changes in terms of manufacturing technology, innovation, and technical advancement within the automotive industry are projected to fuel the market for servo motors globally.

Motor Vehicle segment is the leading application in the global servo motor market during the forecast period

The market size can be attributed to the growing vehicle production worldwide, increasing demand for electric vehicle and technological advancement. Servo motors enhance the efficiency of production and manufacturing facilities in the automotive industry. Owing to reduced size, high accuracy and speed, higher torque, and lightweight machines are driving the market across the automotive sector. Stringent emission regulations in numerous countries to curb the pollution level increased sales of electric vehicles. Moreover, motion control systems find wide application in the automotive industry for precision fuel injection, auto body painting, linear and rotary solution, speed control, and assembly application. However, declining prices and increasing demand for servo motors are projected to drive market growth globally.

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The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Servo Motor Market also experienced a slowdown. Statista estimates that the Servo Motor Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Servo Motor Market generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Servo Motor Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

Global Servo Motor Market Competitive Landscape

Companies such as ABB Ltd., Allied Motion Technologies, Inc., Ametek, Inc., General Electric Company, Nidec Corporation, Rockwell Automation Inc., Schneider Electric, Emerson Electric Company, Siemens AG, WEG Industries, Hitachi Ltd., Oriental Motor, Mitsubishi Electric Corp., Panasonic, Rexroth (Bosch), Delta, Toshiba Corp., Danfoss Group, Fuji Electric Holdings Co. Ltd., Yaskawa Electric Corp. are the key players in manufacturing servo motor globally.

The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global servo motor Market size & forecast. The report promises to provide state-of-the-art technology of servo motor and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

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