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CHICAGO, May 12, 2020 /PRNewswire/ — According to the new market research report «Servo Motors and Drives Market by Offering (Hardware, Software and Services), Product Type (Servo Motors, Servo Drives), System, Voltage, Communication Protocol, Brake Technology, Material of Construction, Industry, and Region – Global Forecast to 2025«, published by MarketsandMarkets™, the Servo Motors and Drives Market is projected to grow from USD 13.9 billion in 2020 to USD 16.8 billion by 2025; it is expected to grow at a CAGR of 4.0% from 2020 to 2025. The key factors fueling the growth of this market include the growing automation in factories, rising adoption of international standards for motor efficiency, development of user-friendly motion control libraries and packages for motors and drives, and increasing production of vehicles.

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Software and services offering segment of servo motors and drives market is projected to grow at highest CAGR from 2020 to 2025

The software and services segment of the servo motors and drives market is projected to grow at the highest CAGR from 2020 to 2025. Servo software are useful for various purposes, such as installation setup, networking, motion controlling, and other configuration requirements. The software also have real-time diagnostic capabilities to detect the presence of any critical emergency in the system and inform the operator about it instantly. The development of independent networking software for motion control and process control machines to help in their seamless integration with servo motors and drives is expected to lead to an increase in the demand for software and services.

Servo motors product type segment accounted for largest share of servo motors and drives market in 2019

In 2019, the servo motors segment accounted for the largest share of the servo motors and drives market, by product type. Servo motors are further segmented into AC servo motors and DC servo motors. AC servo motors provide the benefits of high torque per weight, efficiency, reliability, and low frequency noise, which has them favorable in applications across diverse end-user industries. AC motors such as synchronous AC servo motors with permanent magnet offer high level of accuracy and precision, making them suitable for equipment such as drill bits packaging machines, injection molding machines, and speed controllers machine used in the packaging industry. DC servo motors are commonly used in applications that require low power output as they are cost-effective in comparison with AC servo motors for such applications.

Browse in-depth TOC on «Servo Motors and Drives Market«
103 – Tables
66 – Figures
212  – Pages

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Low voltage segment accounted for largest share of the servo motors and drives market in 2019

In 2019, the low voltage segment accounted for the largest share of the servo motors and drives market, by voltage. Low-voltage servo motors and drives are compatible for use in mobile applications that demand high acceleration and braking processes, low noise, and high efficiency. Their compact size results in a smaller number of cables, which improves the overall diagnostics capabilities, making them highly useful for various control systems equipment in printing & paper, steel, cement, power, and petrochemicals industries.

Rotary system segment is projected to grow at a higher CAGR from 2020 to 2025

The rotary segment of servo motors and drives market, by system, is projected to grow at a higher CAGR during forecast period. Rotary servo motors allow interaction between all magnets and the windings in all positions. This results in low installation costs of the rotary servo motor in comparison with linear servo motor. Rotary servo motors offer benefits such as high-resolution precision feedback, low energy consumption, high response, and high torque density. This makes rotary servo motors useful for applications in packaging, healthcare, and automotive & transportation industries. Advancements in rotary system-based servo motors and drives, including the introduction of stainless steel, food-grade, ingression protection (IP)-grade, and hygienic servo motors, have led to an increasing demand from industries such as food processing, pharmaceuticals, and petrochemicals.

Permanent magnet segment projected to grow at highest CAGR from 2020 to 2025

The permanent magnet brake technology is projected to grow at the highest CAGR from 2020 to 2025. Permanent magnet brakes are small and have a low weight, resulting in large torque per size density. This has made them highly useful for applications requiring almost zero backlash, such as pick-and-place robots and other applications in the pharmaceuticals & healthcare industry. The increased use of permanent magnet brakes in industries such as automotive & transportation, pharmaceuticals & healthcare, textile, and packaging has propelled their market growth. 

Industrial Ethernet communication protocol segment projected to grow at highest CAGR from 2020 to 2025

Based on communication protocol, the industrial Ethernet segment is projected to grow at the highest CAGR during the forecast period. Protocols such as EtherCAT, Ethernet/IP, PROFINET, POWERLINK, SERCOS III, and CC-Link IE, that provide real-time control are based on the industrial Ethernet architecture. Industrial Ethernet is mostly suited for industrial environments with harsh conditions where the factory components and equipment are exposed to extreme temperatures, humidity, and vibration. Industrial Ethernet offers various benefits, such as higher speed, increased connection distance, and the ability to connect more nodes than other network protocols. These benefits make industrial Ethernet highly suitable for industrial applications.

Other materials segment accounted for largest share of servo motors and drives market in 2019

In 2019, the others segment of the servo motors and drives market, by material of construction, accounted for the largest share of the market. Other materials used in the design and manufacturing of servo motors and drives include carbon steel and aluminum. The low cost of the servo motors and drives built using these materials has led to their market growth. Servo motors and drives constructed from non-stainless steel material have the ability to withstand dust, high-pressure washdown water jets, and corrosion prevention. This has led to the increased adoption of servo motors and drives with aluminum housing, which is Teflon-coated and hard coat anodized, in various industries, such as packaging, food processing, pharmaceuticals & healthcare, and petrochemicals.

Automotive & transportation industry segment accounted for largest share of servo motors and drives market in 2019

The automotive & transportation industry accounted for the largest share of the servo motors and drives market in 2019. Servo motors and drives are used in various automotive control systems, such as fuel injection systems, anti-lock braking systems, cruise control systems, and pedal systems, 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. Servo motors and drives are central to the various reforms aimed at enhancing the speed, accuracy, and productivity of manufacturing in the transportation industry. Servo systems improve the logistics and supply chain processes through the use of robotics and various control systems, thereby, driving their demand in transportation industry.

APAC is projected to hold largest share of servo motors and drives market in 2025

APAC is expected to hold the largest share of the servo motors and drives market in 2025. Massive investments in industrial automation to enhance the operations of the manufacturing industry are driving the growth of the servo motors and drives market in the region. This has led to growing industrialization along with the rising use of robots to achieve high productivity and efficiency in industrial applications. the high demand for consumer electronics including smartphones, home appliances, smart home devices, and wearable devices have resulted in the adoption of flexible flow line manufacturing processes, including the use of robot arms, which is expected to further drive the demand for servo motors and drives in the region. The demand for energy-efficient automobiles such as electric vehicles and hybrid vehicles owing to the formulation of environment norms by governments of different countries has also led to the high adoption of DC servo motors in the APAC region.

Yaskawa Electric (Japan), Siemens AG (Germany), Mitsubishi Electric (Japan), Schneider Electric (France), Rockwell Automation (US), ABB (Switzerland), Nidec Corporation (Japan), Fuji Electric (Japan), Delta Electronics (Taiwan), and FANUC Corporation (Japan) are the key players operating in the servo motors and drives market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, and acquisitions to increase their market share.

Related Reports:

Encoders Market by Type (Linear and Rotary), Technology (Optical, Magnetic, and Others), End Use (Automotive, Consumer Electronics, Industrial, Food & Beverage, Medical, Printing, and Others), and Geography – Global Forecast to 2024

Motion Control Market by Component (AC Motors, Motors, Motion Controllers, AC Drives, Electronic Drives), Application (Packaging, Material Handling, Metal Fabrication, Converting, Positioning), Industry, and Geography – Global Forecast to 2022

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– Growing demand for private leasing and a hassle-free travel experience contributing positively to growth, Commercial banks segment and financial lease segment to be dominant over the forecast period

– North America and Europe to stay at the top of regional charts in the global car leasing market

ALBANY, New York, May 12, 2020 /PRNewswire/ — Growing at an impressive pace of about 9% from 2020 to 2030, the global car leasing market is looking at an upward growth curve over the stated period. The reasons that can be attributed to this growth are varied and a prominent one among them is the increase in demand for private lease. Key share of the global car leasing market would be accounted for by developed countries of the world such as France, the United States of America, the United Kingdom, and Germany.

Transparency Market Research notes, «With most drivers practicing safe distancing during the COVID-19 pandemic, more and more people have questions regarding breaking the chain while vehicle leasing. Players would thus do well to have interactive question and answer session to those willing to opt for it.  Besides, it is pertinent to note here that young urban drivers seek a hassle-free experience and thus gravitate towards car leasing for their travel requirement.»

Key Findings of Global Car Leasing Market Study:

• On the basis of provider, commercial banks held a dominant share; however, it will lose some share over the forecast period to NBFCs and captives
• In the product type segment, business lease segment was a prominent contributor to growth; however, it will lose some share to private lease segment over the forecast period
• The lease type segment witnesses the sub-segment of financial lease segment contributing massively to growth
• North America and Europe to account for significant global car leasing market share over the assessment period

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Key Drivers of Growth in Global Car Leasing Market:

A number of factors, as identified by Transparency Market Research, are keeping the car leasing market buoyant over the forecast period.  Trends, drivers, and developments that are marking the global car leasing market’s landscape include the following:

• Corporate sector is providing the benefit of car leasing to its top employees in order to attract the best talent and retain it; these organizations are one of the most significant end-users
• Increase in demand for travel and other use-purposes are arising from young users who cannot afford to buy cars
• Car ownership comes with high maintenance costs, fuel requirements, and maintenance expenses and this is deterring people from buying, pushing them towards leasing

Explore 205 of pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Car Leasing Market (Lease Type: Finance Lease and Operating Lease; Product Type: Private Lease and Business Lease; and Provider: OEM/Captives, Commercial Banks, and NBFCs) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030 at https://www.transparencymarketresearch.com/car-leasing-market.html

Regional Analysis of Global Car Leasing Market:    

• Europe and North America held sizeable share of the global car leasing market in the year 2019 as a result of improving credit environment
• From 2020 to 2030, the trend is set to continue for the two regions owing to penetration of NBFCs and captives
• Asia Pacific and Latin America will present players with new opportunities as the regions gear themselves for growth – a result of increase in consumer awareness and increase in car prices
• The automotive industry will witness China and India emerging as major players and this will lead to massive contribution from these countries towards growth of the APAC region

Analyze car leasing market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a Sample of the Study

Competitive Landscape of Global Car Leasing Market:    

The global car leasing market is a fragmented vendor landscape with a large number of local and international players present and operating the landscape. Key players that have made a name for themselves in the market with their active and proactive maneuvers are ORIX, ALD Automotive, Avis Budget Group, Sixt, Enterprise, Hertz, Arval, Leaseplan, Europcar, Movida, Car Inc, Daimler Financial Services, and General Motor Financial Company, among others.

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Global Car Leasing Market: Segmentation

• Car Leasing Market, by Lease Type
• Operating Lease
• Financial Lease
• Car Leasing Market, by Product Type
• Private Lease
• Business Lease
• Car Leasing Market, by Provider
• OEM/Captives
• Commercial Banks
• NBFCs
• Car Leasing Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

Explore Transparency Market Research’s award-winning coverage of the Global Automotive & Transport Industry:

Freight Trucking Market – The significant growth of the various industries around the world coupled with the integration of new technologies in freight trucks is expected to propel the freight trucking marketing during the forecast period. While supply chains across the world predominantly rely on freight trucking, the demand for freight trucking is anticipated to grow at a consistent pace in the coming years

Forklift Market – Companies in the forklift market are innovating in new ways of using their software and electricity producing capabilities to power healthcare facilities to join the fight against coronavirus. Owing to tragic fatalities caused due to coronavirus, there is a growing demand for forklifts to lift dead bodies onto the trucks outside hospitals in the New York City and other healthcare systems.

Automotive Suspension Parts Market – The global automotive suspension parts market is expected to grow at a modest CAGR of ~3% during the forecast period. The market growth can be primarily attributed to the growing focus on maximizing the efficiency of vehicles, minimize carbon footprint, improving performance, durability, and handling of vehicles, and growing focus on innovations and research.

Vehicle Battery Market – Rapid-charging battery technologies are anticipated to become increasingly mainstream in the near future. Companies in the vehicle battery market are leveraging their capacity additions to manufacture rapid-charging batteries that are capable of powering batteries within minutes.

Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor’s moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage’s actionable insights and remove the guesswork in making colossal decisions.

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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– The first in the world to develop an artificial engine sound using the grill cover of the electric vehicle

– Creative thinking that eliminated acoustic pressure loss by using the cover as the diaphragm

– Added the turn signal sound and charging sound function; also used as speakers for playing music when camping

-Expected to be highly useful in the age of future cars when communication with pedestrians is critical

SEOUL, South Korea, May 12, 2020 /PRNewswire/ — Hyundai Mobis, which has been accelerating the development of the core components of environmentally-friendly cars, developed an artificial engine sound system using the grill cover of the electric vehicle for the first time in the world.

Unlike internal combustion engine vehicles that have holes in the front grill to let the air flow in, the front of an electric vehicle is completely blocked. Based on this fact, Hyundai Mobis creatively changed the way we think and used the cover itself as a component of the speakers, and developed a new system as a result.

«Hyundai Mobis succeeded in reducing the weight by 2/3 and the size by half,» said Kim Tae-woo, head of IVI Product Design Team 2 of Hyundai Mobis. «We simplified the structure and lowered the price by reducing the number of components by more than half, and eliminated the bracket or housing, which fastens different devices, to easily secure space.»

Hyundai Mobis greatly improved the efficiency and performance of this new system compared to existing products, and added such functions as the turn signal sound and charging status alarm as well as the artificiall engine sound. In keeping with the age of future cars when autonomous driving becomes common, it is necessary to inform pedestrians of the direction in which the vehicle is going or whether it is operating so that they can be prepared in advance. Also, it can be used as speakers for playing music during outdoor activities, such as camping.

Acoustic Vehicle Alert Sound (AVAS) is a speaker system that produces a sound outside of the vehicle so that pedestrians can sense an oncoming environmentally-friendly car that emits almost no noise. It is differentiated from ASD which produces an artificial engine sound inside the vehicle for the fun of driving. Governments around the world are making the artificial engine sound system mandatory to prevent accidents involving pedestrians from becoming more common as environmentally-friendly cars are too quiet.

This system, developed by Hyundai Mobis, installs the existing product, which used to be installed inside the vehicle in the form of complete speakers, on the back of the grill cover located on the front of the vehicle, in the form of a half-finished product. A speaker consists of the actuator, which actually generates sound, and the diaphragm, which propagates the sound to the outside. Hyundai Mobis separated the actuator, attached it to the grill cover and used the grill cover as the diaphragm of the speakers. Unlike existing speakers installed inside the electric vehicle with a blocked front, the grill cover, exposed to the outside, produces sound in this system and there is no acoustic pressure loss. So it is very efficient.

In hybrid cars which have both the engine and motor, the actuator is installed on the back of the front bumper for the same effect. Hyundai Mobis achieved this result only a year after it began development at the end of 2018, and applied for two related patents.

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