DUBLIN–(BUSINESS WIRE)–Feb 8, 2021–
The "Servo Motors and Drives Market – Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com’s offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Servo Motors Market Report
The servo motors and drives market by revenue is expected to grow at a CAGR of over 5% during the period 2021-2026.
The global servo motors and drives market share is expected to grow at a significant rate owing to a large application of robotics in factories, medical facilities, and other related industries. Both servo motors and drives are expected to observe exponential growth during the forecast period. Their penetration is increasing as several industries are opting for automation and innovative applications to transform operations, according to Industry 4.0. Industrial robots are the major applications, which use servo motors and drives, thus the increased use of robotics and automation in industries is expected to drive the market growth.
The following factors are likely to contribute to the growth of the servo motors and drives market during the forecast period:
- Growth in CNC Machine Market
- Industrial Revolution 4.0
- Growth in Robotic Business Field
- Rapid Advances and Growth in Automation
The study considers the present scenario of the servo motors and drives market and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Key Questions Answered
- What is the future outlook and growth projections of the servo motors and drives market?
- What are the major upcoming trends in the servo motors and drives market?
- What opportunities exist for major players and new entrants in the servo motors and drives market?
- Which regions are likely to observe the highest revenue during the forecast period?
- Which end-users are projected to contribute maximum revenue to the market?
Emerson, Siemens, Rockwell Automation, ABB, Mitsubishi Electric, Delt, Fuji Electric are the major players in the market. They have a strong presence in both high-end and low-end servo motor and drives segments. Also, most vendors are vertically integrated and provide end-to-end solutions to their customers. Vendors in the market are expanding their presence through partnerships, investments, and mergers and acquisitions. Several vendors are focusing on innovation in production technologies to provide a variety of products along with efficiency in the global servo motor and drive market.
- Rockwell Automation
- Mitsubishi Electric
- Fuji Electric
- Sanyo Denki
- Parker Hannifin
- Allied Motion
Other Prominent Vendors
- ARC Systems
- Oriental Motor
- Schneider Electric
- Callan Technology
- Panasonic Industry Europe
- Bosch Rexroth
- HNC Electric
- Tamagawa Seiki
- GSK CNC Equipment
- KEB Automation
- TECO Electro Devices
For more information about this report visit https://www.researchandmarkets.com/r/dot0pn
View source version on businesswire.com:https://www.businesswire.com/news/home/20210208005661/en/
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SOURCE: Research and Markets
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PUB: 02/08/2021 12:10 PM/DISC: 02/08/2021 12:10 PM