Servo Motors and Drives Market is expected to reach US$ 20.51 Bn. by 2027, at a CAGR of 6% during the forecast period.
Servo Motors and Drives Market Overview:
This report discusses the market growth drivers and obstacles for the manufacturer, as well as a review of the significant trends in the market's business strategies, procedures, and financially sound and expand approach. Customization is also possible to meet the needs of individual customers, as well as a complete understanding of market potential. The Servo Motors and Drives Market provides a comprehensive overview of the market's competitive landscape and main merchants. This report can assist with structural planning in light of current industry conditions.
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Market Scope:
According to the forecast period 2021-2027, the Servo Motors and Drives market is expected to grow at a steady rate of xx % between 2021 and 2027. The market is estimated to increase in the forecast period of 2021, as key industry players continue to complete projects.
This report includes a value-based analysis and forecast for the Servo Motors and Drives market. This study and analysis of market drivers, constraints, and opportunities impacting the growth of the Servo Motors and Drives Market is included in this report. Servo Motors and Drives Market segmentation has been provided based on type, source, end-user, and geography (country-wise). The scope of the study included a strategic analysis of the Servo Motors and Drives market in terms of individual growth trends, future prospects, and the contributions of key sub-market stakeholders. Servo Motors and Drives Global market analysis and forecasts for five key regions: North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, as well as country-by-country segmentation. The profiles of main industry participants, as well as their strategic perspectives, market positioning, and analyses of core competencies, are included. The top companies participating in the Servo Motors and Drives Market are also profiled in terms of their competitive advancements, investments, strategic expansion, and competitive landscape.
Servo Motors and Drives Market Segmentation:
The AC motor segment is expected to grow at the largest CAGR during the forecast period. Increasing sales of electric vehicles are expected to fuel the segment through 2027. AC motors are relatively lighter and smaller and are commonly used in home appliances, HVAC equipment, industrial and manufacturing facilities. Furthermore, they are cost-effective as they incur negligible or no maintenance cost. Because of their construction, they do not include accessories such as brushes, slip rings, or commutators.
Based on the application, the aerospace and transportation segment is expected to grow at the highest CAGR during the forecast period. The AC servo motors are used in the aerospace industry in hydraulic systems, which contain system hydraulic fluid. Implementation of automation tools in application industries has further resulted in cost-savings and reduced operation time in manufacturing and inventory processes. Significant developments in technology, like the integration of hardware and software, has expanded the scope of these motors.
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Servo Motors and Drives Market Key Players:
• Rockwell Automation Inc.
• Schneider Electric S.E
• Emerson Electric Co.
• Parker Hannifin Corporation
• Nidec Corporation
• ABB Ltd.
• Panasonic Corporation,
• Delta Electronics, Inc.
• Fuji Electric Co., Ltd.
• Hitachi Industrial Equipment Systems Co. Ltd
• Applied Motion Products, Inc.
• Altra Industrial Motion Corp.
• FANUC Corporation
• Kollmorgen Corp.
• Kollmorgan Corporation
• Regal Beloit Corp.
Regional Analysis:
The Servo Motors and Drives market is organized into five regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America.
COVID-19 Impact Analysis on Servo Motors and Drives Market:
The globe has reached the end of the COVID-19 pandemic's recovery phase. In light of the current economic scenario, Maximize Industry Research has launched the Servo Motors and Drives Market Status, Trends, and COVID-19 Impact Report 2021, which provides a comprehensive look at the Servo Motors and Drives market.
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