EUROPE SERVO DRIVE MARKET

KEY FINDINGS

• The growing need for automation of processes across industries, real-time processing and monitoring solutions, data logging operations, predictive maintenance feature enhancement, and a rising trend of custom-tailored solutions are major growth factors for the servo drives market.

• Rapid advancements in alternative motion control technologies, such as stepper motors, direct drive motors, and variable frequency drives (VFDs), can pose competition to traditional servo drives. Companies might opt for newer technologies that offer better performance, cost-efficiency, or simpler integration

• The average price of a servo drive in the market was $334.3 in 2023. Servo drive prices in Europe have witnessed a decent surge over the past few years, technological advancements and a rise in the demand for tailored solutions can be identified as a major contributor to the increment in prices. Additionally, the use of automation and digital transformation across industries fueled the market prices.

• Servo drives are becoming more advanced, incorporating newer technologies such as better real time analysis, and predictive maintenance. However, with the emergence of compact driverless servo motors and efforts of the manufacturers to manufacture the servo drive integrated motors is expected to obstruct the market development.

• In terms of rising demand and utilization, it is predicted that the servo drive market will witness stagnant growth. Due to the increasing proclivity towards compact solutions, the matured market of Europe, among other factors, servo drive applications are extending at a relatively slower pace throughout the manufacturing market of Europe

• The market for servo drives is highly competitive, with numerous players currently operating in the country and the emergence of new market players is increasing at a striking pace. Prominent players are majorly focusing on product portfolio diversification. Whereas, emerging players are trying to increase their presence by offering products at competitive pricing.

• Europe’s Servo Drive Market is dominated by major players such as YASKAWA Electric Corporation, Siemens, and Schneider Electric.

• The demand for servo drives for the robotic application in the automation of facilities, for the implementation of high-level automation such as Robotic Process Automation (RPA), Implementation of Collaborative Robots (Cobots), and various others, is anticipated to drive growth.

• Technological advancements in AI and industry 4.0 initiatives are predicted to lead to the development of advanced and innovative servo drive solutions for future requirements. 

• With the proliferation of  Collaborative Robots (Cobots) in industrial setups, there is a significant demand for servo motors and drive solutions capable of offering superior precision and control. The servo drive’s real-time processing and predictive maintenance are well-suited for such applications.

• The servo drives market is anticipated to witness increased competition among manufacturers, leading to potential market fragmentation. This could result in more market players which eliminates the possible market domination of a fixed set of market players in the industry.

• The development and adoption of industry standards related to servo drives, by various regulatory authorities, is predicted to play a crucial role in shaping the market.

• Companies compete in developing advanced servo drives, integration of advanced algorithms, developing industry-specific solutions, and enhancing overall performance. This competition drives innovation and leads to the introduction of new versions of servo drives as the companies strive to meet the increasing demand of application industries.

• Applications in aerospace and defense require precise motion control for navigation, targeting systems, and flight control surfaces, driving the demand for servo motors. The expanding use of UAVs or drones in both military and commercial applications is boosting the need for reliable and efficient servo motors.

• Servo motors are used in various EV components such as steering systems, power windows, and regenerative braking systems, where precise control is essential. The production of EV batteries involves precise automation processes that require servo motors.

EUROPE SERVO DRIVE MARKET INTRODUCTION

Servo drives are essential components of modern automation systems, providing precise control over machine speed. This device receives command signals from the control system and connects the output to the servomotor, ensuring accurate position, speed, and torque. 

Widely used in industries such as robotics, CNC machines, and automated manufacturing, servo drives play an important role in increasing productivity and efficiency They can react quickly to feedback signals and adjust in real time to provide motion control efficiency. 

This capability makes them indispensable in applications that require high accuracy and dynamic performance. As technology evolves, servo drives continue to evolve, adding features such as network connectivity and advanced diagnostics, further expanding their applications and improving their reliability and effectiveness in complex automation tasks

EUROPE SERVO DRIVE MARKET OVERVIEW

The European servo drive market continues to grow due to increasing demand for automation in various industries. As companies seek to increase operational efficiency and reduce downtime, the adoption of advanced servo drive systems has become an important choice. This system is central to applications requiring mechanization torque care, acceleration, and position accuracy, so ensuring efficiency is where accuracy and reliability are paramount.

Furthermore, technological advancements in servo drive systems, such as the integration of IoT and AI, have further accelerated market expansion Companies are also increasingly focusing on energy-efficient solutions to meet stringent regulatory standards, leading to improvements in servo-drive installations.

EUROPE SERVO DRIVE MARKET SIZE AND FORECAST

The Europe Servo Drive Market accounted for $1.8 Billion in 2023 and is anticipated to reach $2.3 Billion by 2030, registering a CAGR of 3.4% from 2024 to 2030.

EUROPE SERVO DRIVE MARKET NEW PRODUCT LAUNCH

The high performance Easy Series PLC, the GL20 I/O modules, the AC703 IPC motion controllers, and the SV670 servo series were all recently launched to the European market by Inovance Technology Europe, the European division of the multinational industrial automation corporation Inovance with headquarters in Stuttgart.

Additionally, the business reintroduced the MD800 tiny AC drive, which had never been displayed at the SPS exhibition previously, and provided a sneak peek at the SV680 servo drive.

EUROPE SERVO DRIVE MARKET TECHNOLOGICAL TRENDS

Demand for Energy Efficiency:

• There is a growing emphasis on energy efficiency and sustainability in Europe. Modern servo drives are designed to be more energy-efficient, helping industries reduce their carbon footprint and operational costs.
  

Advancements in Robotics:

• Robotics applications, from industrial robots to collaborative robots (cobots), rely heavily on servo drives for motion control. The demand for robotics in manufacturing, logistics, and other sectors is driving the growth of the servo drive market in Europe.

Focus on Precision and Accuracy:

• Industries such as semiconductor manufacturing, aerospace, and medical devices require high precision and accuracy in motion control. Servo drives offer superior performance in these demanding applications, contributing to their adoption.
  

Emerging Applications:

• New applications such as additive manufacturing (3D printing), electric vehicles, and renewable energy systems are creating opportunities for servo drive manufacturers. These applications require specialized servo drive solutions tailored to their unique requirements.

EUROPE SERVO DRIVE MARKET NEW PRODUCT DEVELOPMENT

• The most recent version of the AKD2G servo drive was released by Kollmorgen. Kollmorgen has expanded its product line to include support for PROFINET IRT and Ethernet/IP with CIP Sync in addition to CANopen®*, EtherCAT®*, and FSoE time-synchronized communication protocols with the release of these new capabilities. Every protocol undergoes extensive testing using an array of motion controllers and is validated by industry standards bodies. 

• Siemens has introduced hardware and software upgrades for its servo drive product Sinamics S210 servo drive system.  The company has unveiled new hardware architecture and has also announced a new V6 software generation. These upgrades will increase the operational ability of the concerned servo drive across a wide range of applications. The applications which require high dynamic power range to perform effectively. Some of the applications are digital printing, pick and place, and packaging.

• The AX8000 multi-axis servo system from Beckhoff has been enhanced with an axis module that uses silicon carbide (SiC) semiconductors rather than traditional IGBTs. In terms of switching losses, size, and switching voltage and speed, these SiC semiconductors set new benchmarks. The benefits for the AX8000 are obvious since the same housing can now be utilized for both the 18 A IGBT device and a nominal current of 28 A due to the reduced power loss. Additionally, it produces 55% more at the same axis module size.

• AMC’s launched its innovative product segment of digital servo drives, the FlexPro® drive series, is made for servo motor control that is dependable, compact, and high power. Higher power densities are possible without sacrificing the drive architecture’s dependability and adaptability. This launch is announced with an aim to increase the product diversity in the existing product portfolio of the company. The introduction of the novel solutions will attract a new customer base towards their product and will help them to elevate their presence in the market of Europe.

EUROPE SERVO DRIVE MARKET SEGMENTATION

By Country

• Germany
• Spain
• Italy
• UK
• Rest of Europe

By End-user Industry

• Aerospace
• Semiconductor
• Logistics
• Renewable Energy
• Automotive
• Others

By Voltage Range

• <100 Volts
• 100-300 Volts
• >300 Volts

By Application

• Robotics
• Machine tools
• Packaging machinery
• Material handling
• Others

EUROPE SERVO DRIVE MARKET COMPANY PROFILES

• Siemens AG
• Mitsubishi Electric 
• Yaskawa Electric Corporation
• Schneider Electric
• Rockwell Automation
• Bosch Rexroth
• Beckhoff Automation
• Emerson Automation Solutions
• Parker Hannifin
• B&R Industrial Automation
• KEB Automation

EUROPE SERVO DRIVE MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What are the key factors driving the growth of the servo drive market in Europe?
2. How are economic fluctuations in Europe impacting the servo drive market?
3. What challenges are currently faced by the European servo drive market?
4. What recent technological advancements have been made in servo drive systems?
5. How are IoT and AI technologies being integrated into servo drive systems?
6. What role do energy-efficient solutions play in the development of new servo drives?
7. Which industries are the primary consumers of servo drive systems in Europe?
8. How are servo drives being utilized in the automotive and electronics industries?
9. What are the emerging applications of servo drives in various sectors?
10. Who are the leading manufacturers and suppliers of servo drives in Europe?
11. What are the latest strategies adopted by key players to strengthen their market position?
12. How is the competitive landscape evolving in the European servo drive market?
13. Which European countries are the major contributors to the servo drive market?
14. How do regulatory standards vary across different regions in Europe?
15. What regional trends are influencing the servo drive market?
16. What are the projected growth rates for the servo drive market in Europe over the next five years?
17. How might advancements in automation and Industry 4.0 impact the servo drive market?
18. What are the key trends and opportunities anticipated in the European servo drive market?
19. Market Size in Volume & Value?