Servo motor and drive market size is projected to reach US$ 18.62 billion in 2024 at a CAGR of 8.2% - Fact.MR Report

Government support worldwide for adoption of automation driving demand for servo motors and drives for use in industrial robots, says Fact.MR.

ROCKVILLE PIKE, MD, UNITED STATES, May 10, 2024 /EINPresswire.com/ -- Increasing Use of Robots in Military Operations for Surveillance and Tactical Combat Driving Need for Servo Motors and Drives: Fact.MR Study

The global servo motor and drive market is expected to reach a valuation of US$ 18.62 billion in 2034 and further expand at 8.2% CAGR from 2024 to 2034.
The United States market holds a competitive edge in this market due to its advanced technological infrastructure, especially in industrial automation and robotics. The country's military extensively uses robots, such as surveillance drones and tactical combat robots like DOGO, enhancing security measures with systems like MAARS, enabling remote security operations for soldiers.
Growth of China's manufacturing sector is largely attributed to the government's policy initiatives aimed at promoting the modernization of the industry. The National High-Tech R&D program, the Robotic Industry Development Program, and Made in China 2025 are among the policies that have fueled the demand for industrial robots in the country. As a result, China has become a lucrative market for industrial robot manufacturers.

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Key Takeaways from Market Study

The global servo motor and drive market is projected to expand from US$ 18.62 billion in 2024 to US$ 40.94 billion by the end of 2034, amounting to a CAGR of 8.2%. Linear and rotary servo motors are set to account for 50% market share in 2024. The robotics segment is estimated to account for 24.6% share of the market in 2024.

The market in China is forecasted to expand at a CAGR of 8.9% and reach a valuation of US$ 9.95 billion by the end of 2034. The United States market is forecasted to expand at a CAGR of 8.8% and reach a valuation of US$ 5.53 billion by the end of 2034, up from US$ 2.38 billion in 2024.

“Servo motors, known for precise rotation, are pivotal across the robotics, automotive, and medical equipment industries. Stringent energy regulations are driving the shift toward energy-efficient servo motors, and operational efficiency while aligning with environmental regulations. These factors contribute to market growth,” says a Fact.MR analyst.

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Market Growth Strategies

Key servo motor and drive manufacturers such as Siemens AG, Altra Industrial Motion Corp, Panasonic Corporation, Nidec Motor Corporation, Parker Hannifin Corporation, Delta Electronics Inc, Fuji Electric Co, Hitachi Ltd, Rozum Robotics Inc, Mitsubishi Electric Corporation, Schneider Electric, FANUC CORPORATION, Rockwell Automation, Inc, ABB, and Applied Motion Products collectively wield substantial influence in the global market.
Industry leaders are investing in research and development to drive technological advancements in the servo motor and drive market. Their commitment to innovation and quality positions them at the forefront of the industry. With robust networks and strategic partnerships, they effectively serve diverse markets and solidify their positions as key players in the industry.

• To meet the demands of the growing advanced air mobility (AAM) industry, AIR teamed up with Nidec Motor Corporation to develop a motor for its two-seater eVTOL aircraft, AIR ONE, in February 2024. The companies are expected to collaborate to create motors tailored to the needs of mid-sized eVTOL aircraft as well.

Explore More Studies Published by Fact.MR Research:

Drone Motor Industry Analysis in East Asia: A recent study by Fact.MR estimates the market size at US$391.6 million in 2024, and predicts a staggering 20.3% annual growth rate, reaching a value of US$2.49 billion by 2034. This surge is driven by the booming popularity of drones for activities like videography, agriculture, and delivery services. Governments in the region are also implementing regulations that support drone use, further fueling market growth.

As drone technology advances, so does the demand for powerful and efficient motors. Manufacturers are constantly innovating to create motors that can handle the demands of increasingly sophisticated drones. This trend presents a significant opportunity for companies in the East Asian drone motor market.

Robotic End of Arm Tool Market: The global market for robotic end-of-arm tools (EOATs), essentially the "hands" of robots, is expected to nearly triple in size by 2034, reaching a staggering US$5.1 billion. This explosive growth reflects the increasing demand for automation across various industries.
EOATs come in a variety of forms, from grippers and suction cups for delicate handling to welding and cutting tools for heavy-duty tasks. These customizable tools can be adapted to different objects and materials, making them incredibly versatile across various industrial and automation processes. As robots become more sophisticated, so too will their EOAT companions, further revolutionizing the way we manufacture and interact with the world around us.

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