Global Servo Motor Market to Reach USD 19 Billion by 2030, Fueled by Advancements in Automation and Robotics

Global Servo Motor Market to Reach USD 19 Billion by 2030, Fueled by Advancements in Automation and Robotics

According to Next Move Strategy Consulting, the global Servo Motor Market, is set to grow at a compound annual growth rate (CAGR) of 6%, reaching USD 19 billion by 2030. This significant growth is attributed to increasing demand for precise motion control systems across various industries, including manufacturing, robotics, aerospace, automotive, and healthcare.

Servo motors, which are specialized electric motors equipped with feedback mechanisms for motion and position control, offer numerous advantages, including precise position, speed, and torque control. These motors find applications in industrial automation, robotics, consumer electronics, and more, where their ability to improve efficiency, responsiveness, and accuracy is crucial.

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Market Dynamics and Drivers

One of the key drivers behind the growth of the servo motor market is the growing adoption of automation technologies, including Industry 4.0 and the Internet of Things (IoT). Industries such as manufacturing and automotive are increasingly relying on advanced servo motors to enhance productivity and efficiency.

In the mining industry, for example, servo motors are being employed to improve the efficiency and flexibility of operations. Invertek Drives’ launch of the Optidrive P2 variable frequency drives in January 2024 highlights the rising need for automation systems to optimize energy consumption and operational output in sectors like mining.

Furthermore, the integration of artificial intelligence (AI) and machine learning (ML) in servo motor systems, such as Panasonic Industry’s MINAS A7 Family servo system launched in September 2023, is expected to drive further growth. These technologies enhance motion control systems, making them more efficient and user-friendly.

Regional Outlook

Asia-Pacific holds the largest market share for servo motors, driven by rapid adoption of robotics and automation in manufacturing industries in countries such as China, India, and Japan. Companies like Yaskawa Electric, Mitsubishi Electric, and Tamagawa are leading the way with innovations such as compact, high-performance motors for applications in CNC machining, robotics, and 3D printing. The region’s dominance is expected to continue throughout the forecast period.

In North America, the demand for servo motors is poised to increase, driven by the region’s robust manufacturing and e-commerce sectors. The U.S. and Canada are focusing on technological innovations to maintain their competitive edge, fostering the adoption of servo motors in production and logistics processes.

Key Players and Innovations

The servo motor market is highly competitive, with leading players such as Yaskawa Electric Corp., Mitsubishi Electric Corp., Siemens AG, and ABB Ltd. These companies are enhancing their market position through strategic product launches and partnerships. For instance, in January 2024, Siemens expanded its SINAMICS Servo Drive Product Family to include updates aimed at improving safety, precision, and system compatibility. Similarly, Mitsubishi Electric and Kollmorgen collaborated in September 2023 to develop advanced servo motors for robotics applications.

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Conclusion

The global servo motor market is witnessing significant growth, driven by innovations in automation, robotics, and AI integration. With rising demand across sectors like automotive, healthcare, manufacturing, and energy, the market is poised to reach USD 19.06 billion by 2030. As industries continue to embrace automation and smart technologies, the need for high-performance and precise motion control solutions will continue to rise, offering substantial growth opportunities for key players in the market.

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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

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