AC Servo Motors and Drives Market Global Industry Trends, Sales Revenue, Industry Growth, Development Status, Top Leaders, Future Plans and Opportunity Assessment 2027
The global ''AC servomotors and drives market size'' was USD 6.80billion in 2019. The global impact of COVID-19 has been unprecedented andstaggering, with the AC servo motors and drives witnessing a positive impact ondemand across all regions amid the pandemic. Based on our analysis, the globalmarket exhibited a stellar growth of 1.20% in 2020.
The global AC servo motors and drives market size is expected toshowcase considerable growth by reaching USD 10.79 billion by 2027 whileexhibiting a CAGR of 6.64% between 2020 and 2027. This is attributable to theincreasing adoption of robots and smart machines that will propel the demandfor advanced AC servo motors and drives worldwide. Fortune Business Insights inits latest report, titled, “AC Servo Motors and Drives Market Size,Share & COVID-19 Impact Analysis, By Product Type (Servo Motors(Synchronous and Induction) and Servo Drives), By Voltage Range (Low Voltage,Medium Voltage, and High Voltage), By Phase Type (Two-Phase and Three-Phase),By Communication Protocol (Fieldbus, Industrial Ethernet, and Wireless), ByEnd-Use Industry (Aerospace & Defense, Automotive and Transportation, Semiconductorand Electronics, Printing & Packaging, Food & Beverage, Chemicals andPetrochemicals, and Others), and Regional Forecast, 2020-2027.”, mentionsthat the market stood at USD 6.80 billion in 2019.
COVID-19 Impact: Halted Industrial Operations Affecting MarketGrowth
The lockdown announced by the government agencies has haltedseveral industrial activities leading to supply disruption. Moreover, limitedavailability of workforce and decreased demand is hampering the growthprospects of several industries. However, the situation post-pandemic is likelyto favor the market growth with the resumption of industrial operations byimplying the stringent regulations set by the government to contain the spreadof the novel coronavirus.
Study Period: 2016-2027
Base Year: 2019
Forecast Period: 2020-2027
Historical Period: 2016-2018
List of the Companies Profiled in the Global AC Servo Motors andDrives Market:
- ABB Group (Switzerland)
- Delta Electronics, Inc. (Taiwan)
- FANUC Corporation (Japan)
- Fuji Electric Co., Ltd. (Japan)
- Kollmorgen Corporation (The U.S.)
- Mitsubishi Electric Corporation (Japan)
- Nidec Corporation (Japan)
- Rockwell Automation, Inc. (The U.S.)
- Schneider Electric SE (France)
- Siemens AG (Germany)
- Yaskawa Electric Corporation (Japan)
The AC servo system that includes AC servo motors and drives istypically a closed-loop system that utilizes position feedback to control themotion, speed, and final position of the machines. Additionally, AC servo driveis a type of electric amplifier that is primarily used to control AC servomotors.
What does the Report Provide?
The global market for AC servo motors and drives report provides adetailed analysis of several factors such as the key drivers and restraintsthat will impact growth. Additionally, the report provides insights into theregional analysis that covers different regions, contributing to the growth ofthe market. It includes the competitive landscape that involves the leadingcompanies and the adoption of strategies by them to introduce new products, announcepartnerships, and collaborate that will further contribute to the marketgrowth. Moreover, the research analyst has adopted several researchmethodologies such as PORTER’s Five Point Analysis and PESTEL to obtaininformation about the current trends and industry developments that will drivethe market growth in the forthcoming years.
DRIVING FACTORS
Increasing Adoption of Industrial Robots to Augment Growth
As per the International Federation of Robotics, globally in 2019,about 373,240 industrial robot units valued at USD 13.8 billion were installedacross several industrial applications. Out of it, 28% of robots were installedin the automotive industry and 24% in the electronics industry. The growingdemand for industrial robots to speed up the industrial processes is expectedto boost the demand for advanced AC servo motors and drives globally.Furthermore, the surging demand for innovative AC servo systems that providesmoother, flexible, and longer operational capability is anticipated to contributeto the global AC servo motors and drives market growth in the forthcomingyears.
SEGMENTATION
Low Voltage Held 45.2% AC Servo Motors and Drives Market Share in2019
Based on voltage range, the low voltage segment is expected toshowcase considerable growth in the forthcoming years. This is ascribable tofactors such as the growing utilization of low voltage servo motor for mobilerobot application. The low voltage servo motor requires a low maintenance cost.The segment held a market share of about 45.2% in 2019.
REGIONAL INSIGHTS
Asia-Pacific to Remain Dominant; Growing Number of ManufacturingIndustries to Aid Growth
Among all the regions, Asia-Pacific is expected to hold thehighest position in the global AC servo motors and drives market in theforthcoming years. This is ascribable to factors such as the growing number ofmanufacturing units in countries such as South Korea, China, and Japan thatwill boost the adoption of advanced AC servo motors and drives in the region.
The market in Rest of the World is anticipated to experiencesignificant growth backed by the growing adoption of industrial automation inthe region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Significant Investment by Eminent Companies to Strengthen TheirMarket Positions
The global market is consolidated by the presence of majorcompanies focusing to maintain a stronghold by investing in the development ofinnovative AC servo systems. In addition to this, other key players areadopting strategies such as merger and acquisition, facility expansion, andcollaboration that will favor the market growth in the forthcoming years.
AC Servo Motors and Drives Market report Focus on:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/ac-servo-motor-market-103513
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Qualitative Insights
- Impact of COVID-19 on the AC Servo Motors and Drives Market
- Supply Chain Challenges
- Steps Taken by the Industry/Government/Companies to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities due to COVID-19 Outbreak
TOC Continued…!
Key Industry Development:
- April 2020 – Mitsubishi Electric Corporation launched advanced MELSERVO-J5 Series of AC servo motors, amplifiers, and motion control units. The new series, according to the company, offers high flexibility, efficiency, performance, and reliability. Moreover, it is generally designed to be adopted for industrial applications such as material handling, packaging, and printing.
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