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Global Servo Motor Market is Projected to Reach US$ 11.98 Billion by 2023

Author: QYResearch | Publish date: 2018-08-22 | Views: 75
New report published by QY Research which offers insights on the global Servo Motor market. The Servo Motor market has been experiencing steady growth graph since past years. During the 2017-2025 timeline, the global market for Servo Motor is expected to reflect increase in the revenue growth. In 2018 the global Servo Motor market was valued at US$ 8.87 billion and by the end of the assessment year (2023), it is estimated to touch a value more than US$ 11.98 billion growing at a value CAGR of 5.13% throughout the period of forecast.


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Global Servo Motor Market: Market Driver and Restraint

Applications of Servo Motor are anticipated to create new business segments in the market. A servo motor is a rotary actuator that allows for precise control of angular position. Servo motors are utilized in industrial machine tools, CNC manufacturing machines and processes, and packaging applications. Electronic Equipment utilize servo motors because of their smooth commutation and accurate positioning. The aerospace industry makes use of servo motors in their hydraulic systems to contain system hydraulic fluid.


Manufacturers are exploring the potential of Servo Motor in industrial robots and vehicles products. Industrial robots are will drive the usage of servo motor, the same as new energy vehicles. Rising labour costs in many mature economies including U.S. and UK is estimated to drive the global robotics market. Many heavy machinery manufacturers are expected to replace workforce with automation to reduce hiring costs and increase overall production.


Global Servo Motor Market: Forecast by Application

Application segment consists of machine tools, packaging applications, textile, electronic equipment and Others, and others. Among them, machine tools occupied the largest market share of 36.43% in 2017.


Global Servo Motor Market: Forecast by Form

This segment includes power less than 2KW,2KW to 5KW, More than 5KW. In terms of volume, products less than 2kww will dominate the market with more than 50% market share in 2023.


Global Servo Motor Market: Forecast by Region

North America, Europe, Asia-Pacific, South America and Mideast & Africa are the regions that are included in this report. Asia-Pacific, occupied 42% sales market share in 2017, is remarkable in the global servo motor industry because of their market share and potential demand. The consumption volume of servo motor is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of servo motor industry may not keep that fast. But it is surely forecasted that the market of servo motor is still promising.


Global Servo Motor Market: Key Players

Mitsubishi, Yasukawa, ABB, Fanuc, Siemens ,Rockwell, Emerson, Rexroth (Bosch), Moog, Delta, Panasonic, Teco, Schneider, SANYO DENKI, Oriental Motor, Toshiba, Parker Hannifin, are the key vendors included in this report.


Click to view the full report TOC, figure and tables:

https://www.qyresearch.com/index/detail/185062/global-servo-motors-sales-market

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