A market forecast for servo motors for the next five years is the content of the report made by Industry Research. The said report categorized the servo motor market by application, by type, and by region. This report was done in 2019 and is still relevant until 2025. It is expected to help companies which are competing in the market. You can compare here to see an example of servo motors available in the market.
The primary purpose of the market study is to make a forecast about the trends in the servo motor market, different technologies, and expansions. The analysis methods, both qualitative and quantitative, were used to provide accurate and applicable data to the readers, business owners, and industry experts. The global and regional market is covered in the market study, with a detailed analysis of the overall growth prospects.
The Servo Motor We Have Today
Since servo motors are typically used for industrial automation, its price and complexity are above average. Servo motors are sophisticated to control, but it has precise dimensional tolerance. The futuristic design methods and rare-earth magnets of servo motors place it in a lucrative market in several sectors. Because servo motors have high performance, their demand increases worldwide, together with the growth of the manufacturing industry.
Servo Motor Largest Market Shares
For the next five years, servo motors will be expected to be seen more often in vehicle production. Servo motors make the manufacturing facilities in the automotive industry more efficient. Thanks to the vehicle industry becoming more prosperous worldwide, the demand for servo motors will increase. There are more applications covered by the automotive industry. For example, servo motors are also being used in assembling vehicles, painting cars, automating fuel throttling, and speed control.
In terms of motor type, AC servo motor has the largest share in the market for the next five years. Because AC motors can take high currents, they are power-dense, making AC servo motors applicable for multiple purposes. That is why you can see AC servo motors at home and at factories. AC servo motors also power robots because of high-precision and low weight requirement. Also, having low to no maintenance costs, AC servo motors are cost-effective.
The Future of Servo Motors
There are 21 big companies involving servo motors, contributing to its market share. The report was based on their market values from 2014 to 2019. These makers and buyers are globally influential in the manufacturing industry and consumers. Because of that, we can expect further development of new models of servo motors. We can also expect other models besides AC motors and the growth of other industries besides automotive industries.
The report will serve as a motivation for servo motor makers, and inspiration for servo motor users. In the future, new manufacturers and consumers will take part in the servo motor market. Machines that use servo motors will become lighter, faster, cheaper, and more powerful, making the servo motor market busier.