Servo Motors and Drives Market Trend, Strategy Analysis & Overview 2030

Posted by Katheine Silway on April 12th, 2021

In addition, servo motors offer easy installation and no maintenance cost. Increasing electricity prices and stringent electricity utilization standards are driving the demand for energy efficient motors globally. The market of servo drives and motors market is expected to grow at a slower pace in North America and Europe region. The demand for servo drives and motors is expected to rise due to the replacement of out-dated low efficient electric motors with highly efficient servo drives and motors. In addition, the strict energy consumption regulations and environment protection acts as the key factors that are driving the servo drives and motors market globally.

Major Key Players of the Servo Motors and Drives Market are:
Siemens AG, Baldor Electric Company, Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Rockwell Automation Inc., Schneider Electric S.E, Emerson Electric Co., Parker Hannifin Corporation, Nidec Corporation and ABB Ltd. among others.

The growth of servo drives and motors market is primarily attributed to positive economic outlook and growing manufacturing industries in India, China, South Korea, Indonesia, Japan and several other countries in Asia-Pacific region. The increasing demand for energy efficient motors causes the shift from standard energy efficient electric motors to premium energy efficiency motors. This shift in trend is directly contributing to revenue growth of servo drives and motors manufacturers.