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Global Servo Motors and Drives Market to reach USD XX billion by the end of 2030

Global Servo Motors and Drives Market Size study & Forecast, by Type ( Motor, Drive), by Voltage Range (Low Voltage, Medium Voltage, High Voltage), by End-user Industry (Automotive, Oil and Gas, Healthcare, Packaging, Semiconductor and Electronics, Chemicals and Petrochemicals, Other End-user Industries) and Regional Analysis, 2023-2030

Product Code: OIRIA-47351569
Publish Date: 10-08-2023
Page: 200

Global Servo Motors and Drives Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Servo motors and drives are essential components of motion control systems widely used in various industries and applications. They are used to achieve precise and controlled motion in machines and devices. The key factors driving the market growth are rising automation and adoption of Industry 4.0, growing expansion in the manufacturing sector, increasing adoption of electric vehicles, and growing robotics and industrial automation that anticipated to support the market growth during the forecast period 2023-2030.

Moreover, the increasing adoption of electric vehicles (EVs) is indeed supporting the growth of the servo motors and drives market. Electric vehicles rely on electric motors for propulsion instead of internal combustion engines. These electric motors often utilize servo motors for their precise control and high torque capabilities. As the demand for electric vehicles grows, so does the demand for servo motors to power their propulsion systems. According to Statista, the number of electric vehicles sold in 2020 was 3.18 million units and the number increased and reached 10.24 million in 2022. As a result, the rising EV demand is anticipated to create a lucrative demand for the market. Additionally, growing industrialization and rising technological advancement is anticipated to create a lucrative opportunity for the market during the forecast period. However, the presence of substitute products stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Servo Motors and Drives Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing industrial automation, advancements in technology, rising automation in healthcare and logistics, and the growing automotive industry. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the growing manufacturing sector, rising adoption of robotics and CNC machines, growing automotive industry, and favorable government policies.

Major market player included in this report are:
Yaskawa Electric Corporation (Japan)
Mitsubishi Electric Corporation (Japan)
Siemens (Germany)
Schneider Electric (France)
Rockwell Automation (US)
ABB Ltd (Switzerland)
NIDEC Corporation (Japan)
Delta Electronics Inc. (Taiwan)
FANUC Corporation (Japan)
Fuji Electric Co., Ltd. (Japan)

Recent Developments in the Market:
Ø In October 2021, Rockwell Automation introduced an NSF-certified HMI terminal for monitoring production and new hygienic servo motors named Kinetix VPH sanitary servo motors to minimise contamination hazards in the food and pharmaceutical sectors.
Global Servo Motors and Drives Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Voltage Range, End-user Industry, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
By Voltage Range:
Low Voltage
Medium Voltage
High Voltage
By End-user Industry:
Oil and Gas
Semiconductor and Electronics
Chemicals and Petrochemicals
Other End-user Industries
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Servo Motors and Drives Market, by Region, 2020-2030 (USD Billion)
1.2.2. Servo Motors and Drives Market, by Type, 2020-2030 (USD Billion)
1.2.3. Servo Motors and Drives Market, by Voltage Range, 2020-2030 (USD Billion)
1.2.4. Servo Motors and Drives Market, by End-user Industry, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Servo Motors and Drives Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Servo Motors and Drives Market Dynamics
3.1. Servo Motors and Drives Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising automation and adoption of industry 4.0 Growing expansion in manufacturing sector Increasing adoption of electric vehicles
3.1.2. Market Challenges Presence of substitute products
3.1.3. Market Opportunities Growing industrialization Growing technological advancement
Chapter 4. Global Servo Motors and Drives Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Servo Motors and Drives Market, by Type
5.1. Market Snapshot
5.2. Global Servo Motors and Drives Market by Type, Performance – Potential Analysis
5.3. Global Servo Motors and Drives Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Servo Motors and Drives Market, Sub Segment Analysis
5.4.1. Motor
5.4.2. Drive
Chapter 6. Global Servo Motors and Drives Market, by Voltage Range
6.1. Market Snapshot
6.2. Global Servo Motors and Drives Market by Voltage Range, Performance – Potential Analysis
6.3. Global Servo Motors and Drives Market Estimates & Forecasts by Voltage Range 2020-2030 (USD Billion)
6.4. Servo Motors and Drives Market, Sub Segment Analysis
6.4.1. Low Voltage
6.4.2. Medium Voltage
6.4.3. High Voltage
Chapter 7. Global Servo Motors and Drives Market, by End-user Industry
7.1. Market Snapshot
7.2. Global Servo Motors and Drives Market by End-user Industry, Performance – Potential Analysis
7.3. Global Servo Motors and Drives Market Estimates & Forecasts by End-user Industry 2020-2030 (USD Billion)
7.4. Servo Motors and Drives Market, Sub Segment Analysis
7.4.1. Automotive
7.4.2. Oil and Gas
7.4.3. Healthcare
7.4.4. Packaging
7.4.5. Semiconductor and Electronics
7.4.6. Chemicals and Petrochemicals
7.4.7. Other End-user Industries
Chapter 8. Global Servo Motors and Drives Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Servo Motors and Drives Market, Regional Market Snapshot
8.4. North America Servo Motors and Drives Market
8.4.1. U.S. Servo Motors and Drives Market Servo Motors and Drives breakdown estimates & forecasts, 2020-2030 Voltage Range breakdown estimates & forecasts, 2020-2030 End-user Industry breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Servo Motors and Drives Market
8.5. Europe Servo Motors and Drives Market Snapshot
8.5.1. U.K. Servo Motors and Drives Market
8.5.2. Germany Servo Motors and Drives Market
8.5.3. France Servo Motors and Drives Market
8.5.4. Spain Servo Motors and Drives Market
8.5.5. Italy Servo Motors and Drives Market
8.5.6. Rest of Europe Servo Motors and Drives Market
8.6. Asia-Pacific Servo Motors and Drives Market Snapshot
8.6.1. China Servo Motors and Drives Market
8.6.2. India Servo Motors and Drives Market
8.6.3. Japan Servo Motors and Drives Market
8.6.4. Australia Servo Motors and Drives Market
8.6.5. South Korea Servo Motors and Drives Market
8.6.6. Rest of Asia Pacific Servo Motors and Drives Market
8.7. Latin America Servo Motors and Drives Market Snapshot
8.7.1. Brazil Servo Motors and Drives Market
8.7.2. Mexico Servo Motors and Drives Market
8.8. Middle East & Africa Servo Motors and Drives Market
8.8.1. Saudi Arabia Servo Motors and Drives Market
8.8.2. South Africa Servo Motors and Drives Market
8.8.3. Rest of Middle East & Africa Servo Motors and Drives Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Yaskawa Electric Corporation (Japan) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Mitsubishi Electric Corporation (Japan)
9.3.3. Siemens (Germany)
9.3.4. Schneider Electric (France)
9.3.5. Rockwell Automation (US)
9.3.6. ABB Ltd (Switzerland)
9.3.7. NIDEC Corporation (Japan)
9.3.8. Delta Electronics Inc. (Taiwan)
9.3.9. FANUC Corporation (Japan)
9.3.10. Fuji Electric Co., Ltd. (Japan)
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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