How big is the Servo Motors And Drives Market?

The Servo Motors And Drives Market size is expected to reach USD 15.46 billion in 2024 and grow at a CAGR of 5.85% to reach USD 20.54 billion by 2029. Read More

What is the current Servo Motors And Drives Market size?

In 2024, the Servo Motors And Drives Market size is expected to reach USD 15.46 billion. Read More

Who are the key players in Servo Motors And Drives Market?

Yaskawa Electric Corp., Mitsubishi Electric Corp., Siemens AG, Schneider Electric and Rockwell Automation, Inc. are the major companies operating in the Servo Motors And Drives Market. Read More

Which is the fastest growing region in Servo Motors And Drives Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Servo Motors And Drives Market?

In 2024, the Asia Pacific accounts for the largest market share in Servo Motors And Drives Market. Read More

What years does this Servo Motors And Drives Market cover, and what was the market size in 2023?

In 2023, the Servo Motors And Drives Market size was estimated at USD 14.56 billion. The report covers the Servo Motors And Drives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Servo Motors And Drives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Servo Motors and Drives Market Report | Industry Analysis, Size & Forecast Overview

Servo Motors and Drives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Global Industrial Servo Drives Market is Segmented by Type (Motor (AC Servo Motor, DC Brush Less Servo Motor, Brushed DC Servo Motor, Linear Servo Motor), Drive (AC Servo Drive, DC Servo Drive, Adjustable Servo Drive)), Voltage Range (Low-voltage, Medium Voltage, High Voltage), End-user Industry (Automotive, Oil and Gas, Healthcare, Packaging, Semiconductor & Electronics, Chemicals & Petrochemicals), and Geography (North America (United States, Canada), Europe (United Kingdom, Germany, France, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia Pacific), Latin America, Middle East & Africa). The market sizes and forecasts are provided in terms of value in USD billion for all the segments.

Servo Motors And Drives Industry Overview

The servo motors and drives market is fragmented with the presence of major players like Yaskawa Electric Corp., Mitsubishi Electric Corp., Siemens AG, Schneider Electric, and Rockwell Automation, Inc. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

October 2023: Yaskawa Electric Corporation announced the expansion of the GA700 series of next-generation AC drives. The 400V-class capacity lineup has been expanded from 0.4 to 355 kW to 0.4 to 630 kW. With the addition of the high-capacity band, the GA700 can now be applied to larger general industrial machinery and equipment for a broader range of applications.
September 2023: Mitsubishi Electric Automation Inc. announced the expansion of its MELESRVO-J5 product family to include more options for OEMs and end-users. The new generation of MR-J5 servo products includes two new servo types, HK-RT/ST, and the addition of high-speed HK-KT/ST servo motors with 3,000 rpm-rated speed.