Unveiling the Future: Analog Servo Motors & Drives Market Projections, Trends, and Outlook by 2033
Posted by Meghana on May 16th, 2024
Overview and Scope
Analog servo motors and drives are electromechanical systems used for precise control of motion in various industrial applications. These components operate based on analog signals to regulate speed, position, and torque accurately. Analog servo motors and drives are well-suited for systems that utilize analog control signals, providing compatibility with existing control architectures.
Sizing and Forecast
The analog servo motors and drives market size has grown strongly in recent years. It will grow from .6 billion in 2023 to .4 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to growing industrial automation driving demand, increasing adoption of international energy-efficient standards and regulations, demand for precise motion control solutions, rising demand for energy-efficient and cost-effective servo motors and drives.
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Segmentation & Regional Insights
The analog servo motors and drives market covered in this report is segmented –
1) By Drive : AC Drive , DC Drive
2) By Voltage Range : Low Voltage , Medium Voltage , High Voltage
3) By Application: Extreme Environment Applications, Semiconductor Machinery, Automated Guided Vehicle (AGV), Electronics, Other Applications
North America was the largest region in the analog servo motors and drives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the analog servo motors and drives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for automation in manufacturing processes is expected to propel the growth of analog servo motors and drives market going forward. Automation in manufacturing refers to the use of technology, machinery, and control systems to perform tasks and processes with minimal human intervention. Automation is increasing in manufacturing due to its ability to drive cost savings, improve productivity, enhance quality, address labor challenges, enable digital transformation, and meet the demands of a rapidly changing marketplace. The analog servo motors and drives market facilitates increasing automation in manufacturing by providing precise motion control solutions essential for automated machinery, enabling efficient production processes and reducing reliance on manual labor. For instance, in October 2021, according to the International Federation of Robotics (IFR), a Germany-based professional non-profit organization the global robot installations in the automotive sector alone increased by 16% in 2021 compared to the previous year. Therefore, the rising demand for automation in the manufacturing process is driving the growth of the analog servo motors and drives market.
Key Industry Players
Major companies operating in the analog servo motors and drives market are Hitachi Ltd., Siemens AG, Panasonic Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Toshiba Corporation, Nidec Corporation, Parker Hannifin Corporation, Emerson Electric Co., Delta Electronics Inc., Danfoss A/S, Rockwell Automation Inc., Bosch Rexroth AG, Fanuc Corporation, AMETEK Inc., WEG S.A., SEW-EURODRIVE GmbH & Co KG, Yaskawa Electric Corporation, Moog Inc., Fuji Electric Co. Ltd., Lenze SE, Pilz GmbH & Co. KG, Oriental Motor Co.Ltd., Nippon Pulse Motor Co. Ltd
The analog servo motors and drives market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
