A recent industrial manufacturing market research publication has revealed the incredible growth of the servo drives and motors market, which is booming. According to the in-depth survey, this growth is set to continue over the next five years and is on course to reach a staggering $12.4 billion by 2020.
These high-performance motors serve the purpose of controlling machine movements. The reason for such healthy growth cannot just be put down to the fact that they are easy to install and require little or no maintenance. The increase is due to a number of factors, both economic and legislative. With the high cost of electricity and high utilisation standards, the demand for more efficient motors internationally has become a critical issue. The demand is pushed by the need to replace less efficient models with servo drives and motors. The market is also influenced by stricter regulations and environmental issue which make these motor very attractive to consumers.
With the demand comes the supply, and this is primarily down to a booming manufacturing process in Asia. Countries such as Japan, Indonesia, South Korea, India and of course China. The technical advances that are led by countries in the Asia-Pacific region are now firmly focused on producing premium energy efficient motors, rather than old standard types.
The market is vast and is split into sectors based on different applications and products. We have different sorts of drivers, which include AC servo, DC servo and adjustable speed drives. This is broken down further into DC brushless, AC servo motors, linear servo motors and brushed DC.
As well as this, the market can be divided into users, and this is varied and takes in automotive, electronics, semiconductor, food processing, material handling, healthcare and several others. The biggest sector, which has the largest share of the market is automotive.
For servo drives and motors, the most extensive sales area is the Asia Pacific, which last year made up 40 per cent of revenue internationally. This demand is set to continue, as the countries in this region continue to flex their economic muscles and show significant GDP growth. Because of this growth, the region is highly likely to maintain its position as the market leader in servo drives and motors at for the next half a decade.