Dallas, Texas (PRWEB) June 26, 2013
Increasing automation market, falling servo motors prices & technological improvements are the major drivers for the servo motors & drives market. Most of the major economies such as China, the U.S. and Germany are using servo motors and drives on high level. No wonder most of the industry experts opined that the servo motors and drives will grow with a high growth rate in coming 5-6 years. As compared to competing technologies such as stepper, future market will rely on systems like servo to cherish the market opportunities because of its accuracy and speed.
The global servo motors & drives market shipments are expected to reach around 17.2 million units and revenues likely to reach around $10.43 billion by 2018. In terms of servo motors product types, AC servo motors will lead the market as compared to other product types such as DC Brushed, DC Brush less products. Lighter machines, reduction in size, increased speed, and high torque represent technical growth. Price reductions have grabbed manufacturer’s attention on various subjects such as production techniques, advanced design, and production time. The key players in this market include Yaskawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), Siemens AG (German), Danaher Corporation (U.S.), ABB (Switzerland), FANUC FA (Europe), Galil Motion Control (U.S.), General Electric (U.S.), and Bosch Rexroth (Germany) among others.
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The report provides details of revenues from all geographies, applications, product types, voltage segmentation and components. Industry experts believe that automotive & transportation would be the major revenue generator since the market is estimated to be on a high growth &these markets would be the biggest consumers for servo motors & drives in near future. It would be followed by material handling and semiconductors & electronics markets. Some other markets with good future prospects are healthcare, packaging, food & textile.
The future remains to be seen and will depend on how much the industries use servo motors & drives. However, servo motors & drives manufacturers should focus on price reduction to compete with competing technologies such as stepper motors.
The total shipment of servo motors & drives in 2012 was 12.2 million units & it is expected to grow at an estimated CAGR of 6% from 2013 to 2018. The market is expected to reach around 17.2 million units by 2018.
Various types of servo motors & drives are leading the market such as AC servo & Linear.
Asia is leading the servo motors and drives market, which is followed by Europe and APAC.
China, the U.S. and Germany are the leading countries in this market with around 31% of market share in terms of revenue.
Automotive &transportation industry is estimated to reach around $1.8 billion by 2018.
The growth of end product market such as AC, DC, adjustable & linear is directly linked to the OEM shipment of the servo motors & drives market.
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