According to the Graphical Research new growth forecast report titled “Asia Pacific Servo Drive Market Size By Drive (AC, DC), Category (Digital, Analog), Voltage (Low, Medium), Application (Oil & Gas, Metal Cutting, Metal Forming, Material Handling Equipment, Packaging and Labeling, Robotics, Rubber & Plastics Machinery, Semiconductor Machinery, Other Industries), Industry Analysis Report, Country Analysis (China, Japan, South Korea, India, Australia, Vietnam), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019–2025”, to Gain Impetus During 2019-2025.
The Market Size will witness a surge in demand on account of growing investment towards infrastructural overhaul in emerging economies coupled with rising demand for automation. Stringent energy efficiency norms, flourishing automotive sector and growing energy intensive industries are some of the key factors that contribute toward the market growth. Additionally, technological advancement in terms of product design will augment the market growth.
DC drives will undergo rapid growth owing to the increased adoption rates across industries along with small and mid-level applications requiring moderate power supply experiencing significant growth. Low cost associated with the drives, easy installation and enhanced programming software are key characteristic positively impacting the business scenario. Additionally, rise in adoption rates from the automotive sector will propel the product demand.
Analog servo drives will register high growth rate on account of its ability to utilize minimum energy when compared to other drives along with the higher efficiency rate. Uniformity with minimal jitter when in application coupled with the drive functioning without a torque amplifier are key factors complementing the market growth.
Medium voltage servo drives will witness rapid growth owing to widespread industrial utilization along with major infrastructural projects inducing demand in the market. Shifting regulatory focus toward upgradation of existing units in emerging economies coupled with increase in fund allocation will further augment the business growth.
Semiconductor is set to grow rapidly on account of growing efforts toward maximum functionality, energy efficiency, lower energy consumption and increased productivity. Rising application in semiconductor machinery, increasing trend of automation and application in process equipment are some of the key factors propelling the market demand. Additionally, application in wafer processing equipment including mechanical planarization machines for higher efficiency will augment the industry growth.
Key industry players are increasingly focusing on mergers and acquisition as a part of the strategy so as to increase their market share. Major participants across the market include Schneider Electric, Fuji Electric, Siemens, Toshiba Corporation, Hitachi, Danfoss, Mitsubishi Electric Corporation Yaskawa Electric Corporation, ABB, and Kinco Automation among others.