The global servo motors and drives market accounted for USD 10.32 billion in valuation in 2020 and is anticipated to grow substantially during the analysis timeframe.

Industry Snapshot:

• The growing automation in factories is one of the main factors driving the overall market growth.
• The mounting adoption of international standards for motor efficiency is stimulating global servo motors and drives industry outlook.
• The surging usage of highly efficient electric motors has augmented the product demand across the globe.

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Segmental Overview:

Product Type	Servo Drives
	Servo Motors
Voltage Range	High Voltage
	Low Voltage
	Medium Voltage
End-User Spectrum	Healthcare
	Printing & Packaging Equipment
	Automotive
	Semiconductor & Electronics
	Industrial Machinery & Equipment
	Others
Regional Bifurcation	Europe
	Middle East and Africa
	Asia Pacific
	Americas

 

Predictions Corner:

• The low voltage segment is expected to grow significantly throughout the forecast period, owing to increasing agricultural activities, rising adoption of low voltage drives by small-scale industries, and expanding residential sectors.
• The automotive end-user segment of global servo motors and drives marketplace is slated to expand considerably in the ensuing years, on account of the rising popularity of electric vehicles to curb greenhouse gas emissions.
• Asia Pacific is expected to capture the largest market share during the forecast timeline, owing to the flourishing automobile space, rising industrial sector, rapid innovations & technological advancements, and growing investment in the manufacturing sector in developing nations such as China, and India.

Explainer – All you need to know

The COVID-19 outbreak had disrupted the global supply chain and manufacturing industries severely, which resulted in strict regulations imposed by the government to control the spread of the virus and ensure safety. The outbreak has diminished the demand for additional motors across sectors including mining, oil & gas, automobile, and petrochemicals, which in turn has had a negative effect on the overall market growth.

ABB Ltd., Robert Bosch GmbH, Delta Electronics, Inc., Rockwell Automation Inc., Fuji Electric Co. Ltd. Siemens AG, Mitsubishi Electric Corporation, Emerson Electric Co., Yaskawa Electric Corporation, and Shenzhen Inovance Technology Co. Ltd. are the major companies operating in global servo motors and drives market.

Concluding lines:

Market researchers gather, present, and investigate information to precisely signify the range of features of a business sphere definitively. MarketStudyReport has a report titled ‘Global Servo Motors and Drives Market: Analysis By Product Type (Servo Motors, Servo Drives), Voltage Range (Low, Medium, High), End User, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’ which analyzes the shifting market patterns, potential business possibilities, and hardships present around this business vertical. The report offers all the information expected by associations working in this field and was made after a wide and careful assessment to ensure favorable returns and high profitability.