Global Analog Servo Motors and Drives Market Report 2024: Size, Drivers, And Top Segments
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The analog servo motors and drives market size has grown strongly in recent years. It will grow from $9.6 billion in 2023 to $10.4 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.
The analog servo motors and drives market size is expected to see strong growth in the next few years. It will grow to $13.59 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rising demand for industrial robotics, rising demand for high-performance and reliable equipment, huge application of servo sotors and drives in printing presses and paper converting machinery. Major trends in the forecast period include advancements in technology, integration with IoT technology, expansion of smart manufacturing, expansion of automated guided vehicles, strategic partnership and collaboration.
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.
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What Are The Key Trends That Influence Analog Servo Motors and Drives Market Share Analysis?
Major companies operating in the analog servo motors and drives markets are focusing on integrating I/O expansion options to extend feature and enhance their market offering. I/O expansion option refer to additional hardware components that extend the input/output capability of a main controller or system beyond its built-in. It is employed in machine-building applications where motor technologies with voltages between 200 and 480 V and powers between 0.25 and 7.5 kW are needed.
Which Market Players Are Driving Growth In The Analog Servo Motors and Drives Market?
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
How Is The Global Analog Servo Motors and Drives Market 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
Read The Full Analog Servo Motors and Drives Market Report Here
The Analog Servo Motors and Drives Global Market Report 2024 provides an overview of the analog servo motors and drivesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The analog servo motors and drives market forecast analyzes analog servo motors and drives market size, analog servo motors and drives market share, leading competitor and their market positions.
The Table Of Content For The Analog Servo Motors and Drives Market Include
1. Analog Servo Motors and Drives Market Executive Summary
2. Analog Servo Motors and Drives Market Segments
3. Analog Servo Motors and Drives Market Size And Template Market Growth Rate
4. Key Analog Servo Motors and Drives Market Trends
5. Major Analog Servo Motors and Drives Market Drivers
……
25. Key Mergers And Acquisitions In The Analog Servo Motors and Drives Market
26. Top Analog Servo Motors and Drives Companies
27. Analog Servo Motors and Drives Market Opportunities And Strategies
28. Analog Servo Motors and Drives Market, Conclusions And Recommendations
29. Appendix
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