According to the Graphical Research new growth forecast report titled “America Servo Drive Market Size By Drive (AC, DC), By Category (Digital, Analog), By Voltage (Low, Medium), By Application (Oil & Gas, Metal Cutting, Metal Forming, Material Handling Equipment, Packaging & Labeling, Robotics, Rubber & Plastic Machinery, Semiconductor Machinery, Other Industries), Industry Analysis Report, Country Outlook, (U.S., Canada, Brazil, Argentina, Chile), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026”, to Widen at Momentous CAGR through 2026.
America Servo Drive Market share will experience growth on account of technological upgradation and introduction of industrial automation & robotics to enhance production efficiency. Improved specification involving AI integration and quicker response when compared to the available alternatives will boost the product deployment. Introduction of stringent equipment standards and codes along with rising consumer awareness toward energy efficiency is set to encourage the product demand. Moreover, accelerating spending from public and private institutions toward industrialization and commercialization will strengthen the industry dynamics.
AC servo drive market is anticipated to grow owing to rising demand from heavy-duty application involving robotics and automation. The ability of these units to tackle high current flows, offer simple operation and independency from a single power point will positively influence the product penetration. In addition, demand for enhanced programming software integrated drives comprising IoT technologies is projected to stimulate the market statistics.
Escalating requirement for simple and improved performance specifically from manufacturing industries will stimulate the analog drive market growth. Easy set up procedure and operational support in attaining faster response and higher bandwidth at low cost compared to its available counterpart is anticipated to propel the product installation. Increasing demand for adjusted speed drives coupled with integration of motion control components in motors and drives will further fuel the product demand.
Medium voltage will grow owing to surging demand in mining, metal, water treatment and power generation industries as it offers 90% efficiency at lighter loads. Rising demand for automobiles is stimulating the need for high speed production and achievement of precision which is set to enhance the business outlook. The recent outbreak of COVID-19 has resulted in stalled industry operations on account of restriction on labor movement, in turn catalyzing the need to opt for automation in manufacturing industry operations.
Rising focus toward utilization of maximum functions of electrical units in order to achieve increasing productivity coupled with improved product life span is set to augment the semiconductor machinery servo drive market growth. Moreover, these products find application in various wafer manufacturing processing equipment for cost efficient product solutions that generate higher performance.
The U.S. will witness significant growth on account of accelerating manufacturers focus on adoption of upgraded technology for increased productivity and reduced maintenance cost. The surging deployment of robots in warehouses and e-commerce industry to ease the functioning and reduce chances of injury among workers will amplify the product demand.
There is a high level of backward & forward distribution predominant between installers and manufacturers that along with suppliers deliver finished drives to the installers, who then provide after-sales services to the end users. Key industry players in America servo drive industry includes Danfoss, Toshiba, Siemens, ABB, Schneider, Yaskawa, Hitachi, Mitsubishi, and Rockwell Automation amongst others.