Servo Motors and Drives Market

Servo Motors and Drives Market Overview

The global Servo Motors and Drives Market size was valued at USD 13.35 billion in 2023 and is predicted to reach USD 19.13 billion by 2030 with a CAGR of 5.3% from 2024 to 2030. 

The servo motors and drives market also known as control motors and drives includes the integration of high-precision motors and drive systems for various industrial applications. These components play a vital role in various industries where precise control of motion, speed, and torque is essential.

These motors are crucial for tasks requiring high accuracy and responsiveness, such as CNC machining and robotic arm movement, while drives regulate their power, speed, and direction to ensure seamless integration within complex automation systems. 

These systems are vital for optimizing production efficiency, reducing downtime, and enhancing system reliability, meeting the increasing demand for high-performance automation solutions across industries. Additionally, advancements in digital drives are enabling real-time monitoring and remote diagnostics, allowing businesses to achieve higher operational precision and minimize maintenance costs.

Market Dynamics and Trends

The expansion of the automotive sector fuels the growth of the market due to the increasing demand for advanced motor control solutions such as precise position and speed control in manufacturing processes and vehicle systems. The integration of servo motors and drives enhances the performance of various automotive applications including automated assembly lines and advanced driver assistance systems (ADAS).

As per the report of the European Automobile Manufacturers’ Association (ACEA) published in 2023, the global motor vehicle production reached 85.4 million in 2022, marking a 5.7% increase compared to 2021. This growth highlights the rising need for motor control technologies in automotive industry that in turn boosts the market growth.

Furthermore, the growth of the aerospace industry further drives the expansion of the market due to the need for advanced control system in satellite manufacturing, space exploration equipment, and launch systems. As space mission are complex and involve higher levels of automation, motor control technologies are required to ensure accuracy, reliability and efficiency in critical operation. 

According to the latest report of the Space Foundation, the global space economy accounted for USD 570 billion in 2023, resulting in a 7.4% increase from the USD 531 billion in 2022. This expansion necessitates the demand for enhanced motor control solutions that ultimately propels the expansion of the market.

Moreover, the rapidly expanding oil and gas sector propels the market growth as it drives the demand for high-performance motor control systems to enhance the efficiency and reliability of equipment used in refining, extraction and distribution processes. According to the report of the Our World in Data published in 2024, the global oil production in 2023 accounted for 52,432 TWh up from 51,520 TWh in 2022, marking a growth of 1.8%.

The adoption of servo motors ensures precise control over heavy machinery and equipment used in exploration and production activities that accelerates the market expansion. 

However, the presence of alternative systems such as stepper motors and traditional AC motors limits the market growth. Their lower initial costs and simpler designs make them more appealing to budget-conscious consumers, hindering the adoption and growth of servo motors and drives. 

On the other contrary, the implementation of IoT in servo motors and drives is expected to create significant growth opportunities. This integration enables real-time monitoring and predictive maintenance, enhancing operational efficiency and reducing downtime. As a result, manufacturers optimize performance, improve energy efficiency, and respond more effectively to market demands, driving the adoption of IoT-enabled solutions.

Market Segmentations and Scope of the Study

The servo motors and drives market report is segmented on the basis of motor type, drive type, voltage range, system, end user and region. Based on motor type, the market is segmented into AC motor, DC motor, and linear motor. On the basis of drive type, the market is classified into AC drive and DC drive. On the basis of voltage range, the market is divided into low, medium, and high.

On the basis of system, the market is distributed into linear and rotary. On the basis of end user, the market is divided into automotive, oil & gas, healthcare, semiconductor & electronics, aerospace & defense, food & beverage and chemical & petrochemical. Regional breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Asia-Pacific holds the dominant in servo motors and drives market share and drives market and is projected to maintain its dominance throughout the forecast period. This is attributed to the expansion of the automotive sector that drives the growth of the market by increasing the demand for precision control and automation in manufacturing processes. According to the latest report of the International Energy Agency (IEA), EV sales in China accounted for 8.1 million units in 2023 compared to 6 million units in 2022, marking a 35% growth.  This increasing shift toward electric vehicles significantly contributes to the expansion of the market in the region.

Additionally, the rise in the chemical sector in countries such as India, China and Japan further fuel the growth of market as it necessitates the need for precision control and advanced systems in chemical processing. The complex and sensitive nature of chemical manufacturing processes requires high-performance equipment to ensure accurate handling, mixing, and packaging of materials. According to the latest report published by the India Brand Equity Foundation, India’s chemical sector valued at around USD 220 billion in 2022, is projected to grow to USD 300 billion by 2025 and reach USD 1 trillion by 2040. The expanding chemical industry accelerates the need for advanced servo systems, driving market growth in precision automation solutions.

On the other hand, the North America is expected to show a steady rise in the servo motors and drives industry. This is due to the surge in defense sector in the region that propels the growth of the market by increasing the demand for advanced automation and control systems in military applications. As military expenditure rises, defense contractors prioritize the integration of high-performance motor systems to enhance precision, reliability, and operational efficiency. According to the latest report by the World Bank Group, the U.S. military expenditure increased from USD 806.23 billion in 2021 to USD 876.94 billion in 2022, marking an 8.8% growth. This rise in military spending reflects a significant emphasis on motor control solutions that accelerates the servo motors and drives market growth. 

Moreover, the expansion of the oil and gas industry in countries such as the U.S., Canada, and Mexico further drives the growth of the market by increasing the servo motors and drives market demand for advanced control technologies in extraction, refining and distribution processes. 

These servo motors and drives are crucial for modernizing equipment and improving operational efficiency to enhance performance and ensuring reliable maintenance. According to the report of the Energy Institute published in 2024, Canada’s oil production increased from 3,186 TWh in 2022 to 3,231 TWh in 2023, resulting a 1.41% growth. The rise in this sector emphasizes the growing need for motor control solutions to enhance performance and operational efficiency in the industry.

Competitive Landscape

Various key players operating in the servo motors and drives industry includes Rockwell Automation Inc., Anaheim Automation, Inc., Applied Motion Products, Inc., Aerotech, Inc., Siemens AG, Nidec Corporation, Fuji Electric Co., Ltd., Schneider Electric SE, Yaskawa Electric Corporation, Kollmorgen Corporation, and others. These companies are adopting strategies such as product launches to stay competitive and maintain their market positions. 

For instance, in April 2024, Applied Motion Products introduced the MDX series, a compact low voltage integrated system. This new solution combines a servo drive, motor, and encoder into one single unit, reducing space requirements and cabling costs. 

Furthermore, in January 2024, Aerotech launched a new range of compact and economical single and multi-axis servo drives that enhance automation solutions. These drives are designed to provide high performance while remaining cost effective, making them suitable for a variety of applications such as robotics, packaging, and semiconductor manufacturing.  

Moreover, in May 2023, Siemens launched a new servo drive system specially designed for the battery and electronics industry, offering optimized performance, ease of use, and future-proof capabilities. This innovation aims to enhance automation and digitalization in these sectors that addressed the unique demands of modern manufacturing processes.

Key Players

• The report provides quantitative analysis and estimations of the servo motors and drives market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep dive analysis of the current and future servo motors and drives market trends to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the servo motors and drives market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Servo Motors and Drives Market Key Segments

By Motor Type 

• AC Motor

• DC Motor

• Linear Motor

By Drive Type

• AC Drive

• DC Drive

By Voltage Range

• Low

• Medium

• High 

By System

• Linear

• Rotary

By End User

• Automotive

• Oil & Gas

• Healthcare

• Semiconductor & Electronics

• Aerospace & Defense

• Food & Beverage

• Chemical & Petrochemical

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

Key Players

• Rockwell Automation, Inc.

• Anaheim Automation, Inc.

• Applied Motion Products, Inc.

• Aerotech, Inc.

• Siemens AG

• Nidec Corporation

• Fuji Electric Co., Ltd.

• Schneider Electric SE

• Yaskawa Electric Corporation

• Kollmorgen Corporation

 REPORT SCOPE AND SEGMENTATION

Parameters	Details
Market Size in 2023	USD 13.35 Billion
Revenue Forecast in 2030	USD 19.13 Billion
Growth Rate	CAGR of 5.3 % from 2024 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	The expansion of automotive industry fuels the market growth. The growth of aerospace industry drives the market growth. The rapidly expansion oil and gas sector propels the market growth
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.