Need for Low-cost Automation, Reduce Manufacturing Downtime and Productivity of Supply Chains Will Drive the Demand of AC Servo Systems Market Growth
Hyderabad, India - July 23, 2021 /MarketersMedia/ —
The global AC Servo Systems Market is estimated to surpass $10.1 billion mark by 2026 growing at an estimated CAGR of more than 4.6% during the forecast period 2021 to 2026. In 2020, AC motors held major share of AC Servo Systems market share in terms of revenue owing to its high efficiency, longevity, quietness, flexibility, versatility, and constant speed. These features make AC servo motors favorable for varied applications across diverse end-user industries such as industrial robots, machine tools and others. At the end of 2019, Mitsubishi Electric Corporation had launched new series of servo systems, the general-purpose AC servo MELSERVO J5 series (65 models). Development of advanced products of AC model drive the AC electronic motor drives. Furthermore, increase in adoption of DC drives for digital control system applications such as computers, numerically controlled machines, or other applications where starts, and stops are made quickly and accurately with growing trend for automation technology provide opportunities for AC Servo Systems market during forecast period 2021-2026.
AC Servo System Market Segment Analysis - By Motor Type
In AC Servo Systems market, Low Voltage Servo motors held the largest share and is growing at 5.8% through the forecast period. Low Voltage Servo Motor is designed to run with a low voltage power supply. It is resistant to stress factors such as high temperatures, shocks and vibrations. Low voltage servo motor features low rotor inertia, high torque density, high peak torque, low noise, low temperature rise, lower current usage. Low-voltage servo drive is used for servo motion applications. In the case of stepper motors, the control is performed by means of a closed loop switch with no step loss.
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AC Servo System Market Segment Analysis - By End Use Industry
Automotive sector is major segment that uses AC Servo Systems and is estimated to grow at a CAGR of 3.7% during the forecast period 2021-2026. Servo motors are small in size but pack a big punch and are very energy-efficient. These features allow them to be used to operate remote-controlled or radio-controlled toy cars, industrial robots, machine tools and airplanes. Besides the significant rise in the railway expansions owing to the environmental issues is significantly impacting on the increasing procurement of the motors thereby boosting the growth rate of the market during the forecast period 2021-2026.
AC Servo System Market Segment Analysis - By Geography
APAC holds the major market share of 36.5% for the global AC Servo Systems market. Owing to the increased developments in various sectors such as automotive, industrial and many other industries in the countries such as China, India and so on is further boosting the global AC Servo Systems market. Moreover the rising demand for medium voltage servo motors from the mining, power generation, metal, and so on is elevating the global AC Servo Systems market during the forecast period 2021-2026.
AC Servo System Market Drivers
Rising Automation Trends
The rapid deployment of advanced automation technology in industries such as automotive, healthcare, packaging and other industries drive the AC Servo Systems market in India. Servo motors are used across various automation sectors specifically where the motor must be able to operate at a range of speeds without overheating, operate at zero speed while being able to retain its load in a set position, and operate at low speeds. Furthermore, increasing adoption of international high efficiency standards of motors assist the growth of the market. With the growing number of manufacturing industries in India, there has been high demand for the adoption of robotics. This has resulted in the deployment of AC Servo Systems across industrial verticals as robots utilize servo motors due to their smooth commutation and accurate positioning.
Rising Automotive Applications
In automotive industry, AC Servo Systems can be used in control systems such as fuel injection systems, anti-lock braking systems, and pedal systems in order to control vehicle speed. Motion control systems having servo mechanisms also find use in manufacturing processes, such as auto body painting, vehicle assembling, material handling, automated guided vehicle (AGV) chassis marriage systems, and assembly presses. AC Servo Systems are central to various reforms that are aimed at enhancing the speed, accuracy, and productivity of manufacturing in the transportation industry. Servo systems improve the logistics and supply chain processes through their use in robotics and various control systems, thereby, driving their demand in transportation industry. The implementation of robotics, artificial intelligence and connectivity are also penetrating the automotive industry.
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AC Servo System Market Challenges
High Initial Investment and Lack of Skilled Workforce
The high cost and initial investment for the AC Servo Systems is a major problem that hinders the market growth. Furthermore, it requires skilled workforce to operate the automated parts of machines and regular maintenance of the technical equipment and results in increased cost of AC Servo Systems.
AC Servo System Market Landscape
Yaskawa, Schneider, Rockwell, Siemens, Omron, Panasonic, Delta, ABB, Fuji, B&R and others are considered to be the key players of the AC Servo Systems Market.
Acquisitions/Technology Launches/Partnerships
In December, 2020 Omron has launched new 1S series AC servo motors which is motion safety. This ensures machine operator safety, shortens commissioning time and minimizes machine downtime and production losses.
In April 2020 Bartell Machinery Systems joins Rockwell Automation OEM program. The collaboration may help among members helps to streamline customer's supply chain, simplify project implementation and provide the better value for automation investments.
Key Takeaways
DC Drives is witnessing the fastest growth rate owing to increase in investments in the development of DC servo motors as these motors offer high output power relative to motor size and weight.
The increased investments for the production of the electric vehicles is further impacting on production plants which require servo motors for the automation in the plants thereby boosting the market growth.
Robotics sector is witnessing the fastest growth rate owing to increasing investments in adoption of automation technology such as advanced machine tools and industrial robots with the advent of industry 4.0 in industrial sector is poised to provide opportunities.
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