The global servo motors and drives market is set for explosive growth with a CAGR of 5.8% during 2024–2031, it was valued at $14.41 billion in 2024, with projections indicating a surge to $21.44 billion by 2031. This remarkable expansion is driven due to high demand for industrial automation solutions, surge in product development by manufacturers and rise in demand from automotive industry.
US & Canada, March 25, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, "Servo Motors and Drives Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component, Product Type, Brake Technology, Industry, and Geography.", the global servo motors and drives market is observing significant growth owing to the high demand for industrial automation solutions, surge in product development by manufacturers and rise in demand from automotive industry.
The servo motors and drives market was valued at US$ 14.41 billion in 2024 and is projected to reach US$ 21.44 billion by 2031; it is expected to register a CAGR of 5.8% during 2024–2031.
Future prospects, major players, and market trends are all thoroughly examined in the research. In general, a wide range of components, product types, brake technologies, industries, and verticals make up the servo motors market, which is anticipated to grow in the upcoming years.
Market Overview and Growth Trajectory:
Market Growth: The servo motors and drives market size was valued at US$ 14.41 billion in 2024 and is expected to reach US$ 21.44 billion by 2031; it is estimated to record a CAGR of 5.8% from 2024 to 2031. The market for servo motors and drives is being driven by the automotive industry's increased demand, manufacturers' rapid product development, and the high demand for industrial automation solutions. Furthermore, the demand for servo motors and drives is rising globally due to increased investment in industrial automation solutions like robots and CNC machines.
Technological Innovations: By improving their capabilities, artificial intelligence technology is transforming servo motors and drives. AI can improve servo motor performance in real time, enabling them to self-correct as needed and adjust to changing conditions. This can prolong the motor's life while preserving operational efficiency by drastically lowering wear and tear. Additionally, industry participants are using machine learning algorithms to analyze servo motor data and determine maintenance needs prior to a breakdown. By lowering operational downtime, this helps industries boost operational efficiencies.
High Demand for Industrial Automation Solutions: High Demand for Industrial Automation Solutions: To provide accurate and dynamic motion control, industrial automation solutions use servo motors and drives. They are most frequently employed in handling and managing jobs that need high levels of precision, torque, and speed control, such as assembly line operations, packing and labeling, sorting and inspection, process control, and others. These parts are mostly utilized in devices like robotic arms, conveyor systems, and CNC machines that need precise motion control. Servo motors and drives are increasingly being used in industries to regulate motion through improved product quality due to the growing adoption and deployment of automation solutions.
Key Players and Competitive Landscape:
The Servo Motors and Drives Market is characterized by the presence of several major players, including:
ABB Ltd
Delta Electronics Inc
Nidec Corp
Rockwell Automation Inc
Schneider Electric SE
Fanuc Corp
Fuji Electric Co Ltd
Mitsubishi Electric Corp
Siemens AG
Yaskawa Electric Corp.
These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.
Conclusion:
A highly specialized motor used to accurately control linear or rotational motion is called a servo motor. To ensure accurate positioning, the rotational or translational motor employs a feedback mechanism, often through a control signal that guides the motor's motion to a predetermined spot. Servo motors are crucial in applications demanding precise placement and smooth motion because of this mechanism, which allows for precise control of several components. Because of its high power during movement and ability to maintain energy efficiency at different speeds and loads, servo motors are incredibly efficient. Opportunities for market expansion are anticipated throughout the forecast period due to technological advancement, the creation of AI-powered servo motors, and the integration of cutting-edge technologies like the industrial Internet of Things (IIoT), AI, and ML technologies in servo motors and drives that lower operating costs. Additionally, the market for servo motors and drives is being driven by the growing demand for customized servo motors and drives, manufacturers' emphasis on creating tiny and compact products, the need for next-generation servo drives, and a growth in research and development efforts.