Knowledge Sourcing Intelligence announces the publication of a new report on “Servo Motors and Drives Market - Forecasts from 2020 to 2025” to their offering.
Growing need to replace relatively less efficient electric motors, expeditious developments in automation, adherence to international energy-efficient standards are a few of the major factors which are anticipated to drive the growth of this market.
As per the report, the market pertaining to Servo Motors And Drives Market is anticipated to grow at a CAGR of 5.79% during the forecast period.
Being highly sophisticated motion control devices, servo motors are known to integrated dimension tolerance of high precisions, magnet materials that provide high torque, and most are rare earth and incorporate advanced design methods. The rationale behind their development and design is their employment in motional control applications that involve, the position with high precision, swift reversing, and unprecedently outstanding performance. Moreover, the added benefits reduced maintenance cost and the ease of installation are other factors that are the other factors that are expected to develop the growth of the market.
It has been increasingly acknowledged that integrating servo motors have preferable outcomes in terms of costs and operating time whereby the manufacturing and inventory processes are further streamlined. The determinants responsible for influencing the growth of the market are inclusive of but not limited to the growing development of streamlined and sophisticated technologies pertaining to automation, large-scale demand for motion control components, that are in turn fueled by the adoption of safety-enabled production processes and industrial robots across a variety of industries, as well as the growing adherence to energy-efficient standards. In case of industrial robots for example, as of June 2020 Wandelbots, a German startupthat is engaged in rendering the teaching of industrial robots the desired behavior a user-friendly experience for individuals without any knowledge in programming so that the robots are able to perform specific task reportedly raised US $30 million in its Series B funding round that was led by 83North, along with Next47 and Microsoft’s M12 to accelerate the market debut of its TracePen. It a handheld device and us devoid of code which enables human operators, which can swiftly demonstrate the desired behaviors for industrial robot. This empowers businesses not only to implement faster productivity but also allows to save associated costs pertaining to programming and the downtime thereof. Thereby facilitating the increase in an already growing adoption rate of industrial robots resultantly stimulating the growth of servo motors and drives market in the coming years.
Further, the premium energy-efficient electric motors that are supplanting its predecessor and marking a shift in the trend are also another reason for the market of servomotors and drives to witness stupendous growth in the next few years. For instance, in April 2020, Mitsubishi Electric Automation, Inc. had reportedly announced the unveiling of its next-generation MELSERVO-J5 Series of AC servo motors, and sundries that reportedly empowers the consumers pertaining to varied and wide industries, Viz. converting, manufacturing, material handling, packaging, printing, and more with advantages of efficiency, flexibility, performance, and reliability. The key aspects which make the product stand apart are the function of “quick tuning” that enables the users to infallibly and swiftly to tune the servo mechanisms in approximately 0.3 seconds. Further, it makes benefits like precise, responsive movement and short settling time extended by the features like a 3.5kHz speed frequency response rate combined with a 31.25μs communication cycle time. Plus, multi-network capability including compatibility with CC-Link IE TSN® and EtherCAT® allows the facilitation of IoT infrastructure across the manufacturing enterprise and enables time synchronization across all connected devices at one gigabyte per second (1 Gbps).Besides other functions and features comprise an advanced function related to vibration suppression, capabilities of expanded predictive maintenance powered by Mitsubishi Electric’s Maisart® AI technology, and multi-axes servo amplifiers.
Nevertheless, factors like easy availability of substitute motors, the volatile nature of prices, and the availability of raw materials, relatively complex processes of manufacturing are the key deterrents to the growth of the market. Despite the aforesaid, an exponential demand in industrial automation fueled by an increasing comprehension of the technology and its application as well as a palpable increase in customer confidence; swift product innovations and value-added offerings by manufacturers is expected to drive the market for servo motors and drives to unprecedented heights.
As a part of the report, the major players operating in the global pharmaceutical packaging market, which have been covered are Mitsubishi Electric Corporation, Danaher Corporation, FANUC, Siemens AG, Galil Motion control, Yaskawa Electric Corporation, Bosch Rexroth, and ABB Ltd.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/servo-motors-and-drives-market
This report segmented the servo motors and drives market on the basis following terms