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CHICAGO, Jan. 27, 2021 /PRNewswire/ — In-depth analysis and data-driven insights on the impact of COVID-19 included in this global servo motors and drives market report.

The servo motors and drives market is expected to grow at a CAGR of over 5% during the period 2020−2026.

Key Highlights Offered in the Report:  

1. Japan, Germany, and the US are the major countries creating demand for servo motors and drives as these countries have higher manufacturing in major end-user industries such as machine tools, robotics, and automated tools.
2. Increased capital investment in developing countries is expected to allow vendors to invest further in plant expansion and upgradation of manufacturing plants along with investments in automation.
3. Major vendors in the market have strong presence in both high-end and low-end servo motors and drives segments. Also, most of the vendors are vertically integrated and provide end-to-end solutions to their customers.
4. Price choices of vendors are largely affected by raw material costs and supply chain disruptions. Energy costs and other input costs are also some of the key factors in deciding the overall profit margin.
5. The servo motors and drives market is highly raw material intensive with raw materials contributing to over 40%-50% of the overall cost. Thus, any fluctuation in pricing is also a deciding factor in the procurement contract.
6. Servo motors are in higher demand currently and is expected to grow further with increase in industrial production at an estimated CAGR of over 6% compared to servo drive at around 4%.
7. Besides major vendors in the sector, such as Mitsubishi Electric Corporation, Siemens AG, and others, various smaller brands have gained traction and are expected to do so throughout the forecast period.
8. AC servo motors are expected to have the higher market share at around 86% due to its ability to operate with AC current as well as high pick-up frequency with both light and heavy loads during the forecast period.

Key Offerings:

• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product type, motor type, sales channel, power output, material, voltage, end-user, and geography
• Competitive Landscape – 12 key vendors and 19 other vendors

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Servo Motors and Drives Market – Segmentation

• Factory automation and robotics application in several commercial and industrial segments are expected to drive the demand for servo motors. Japan, China, the US, and Germany are key countries boosting the growth of servo motors. The market is expected to grow due to an increase in automation and precision techniques.
• Increased application of servo motors in the packaging and medical sectors is expected to drive linear servo motors’ growth. These motors provide high speed, longer strokes, and accuracy. The demand for linear servo motors was slightly high in 2020 as the demand in Europe, North America, and APAC increased.
• Above 5kW servo motors and drives are governed by strict energy-efficiency legislation globally, especially in developed countries. These machines hold the highest revenue share in the market and are expected to accelerate further at the highest CAGR during the forecast period.

Servo Motors and Drives Market by Product Type

• Servo Motor
• AC
• DC
• Servo Drive
• AC
• DC

Servo Motors and Drives Market by Motor Type

• Linear
• Rotary

Servo Motors and Drives Market by Sales Channel

• Direct Sales
• Direct to OEMs
• Direct to End-users
• Direct to System Integrators
• Indirect Sales
• Distributor to OEMs
• Distributor to End-users
• Distributor to System Integrators

Servo Motors and Drives Market by Power Output

• Above 5kW
• Below 5kW

Servo Motors and Drives Market by Material

• Stainless Steel
• Non-stainless Steel

Servo Motors and Drives Market by Voltage

• Low
• Medium
• High

Servo Motors and Drives Market by End-User

• Machine Tools
• Packaging
• Electronics & Semiconductor
• Robotics
• Automotive
• Metal Processing
• Warehousing
• Oil & Gas
• Paper Industry
• Aerospace & Defence
• Food & Beverages
• Textiles
• Printing
• Pharmaceutical
• Woodworking
• Power Generation
• Others

Servo Motors and Drives Market – Dynamics

Servo motors and drives are some of the major components used in the industry to enhance the precision and speed of robots in industrial applications. Thus, the increased demand for robots has boosted the growth of the servo motors and drives market globally. Robotic applications are in high demand in manufacturing units and in the medical industry. Servo motors and drives are solely responsible for a robot’s movement in any industrial application. Hence, their precision is quite important. These motors change the direction and angle of different parts of a robot in a particular direction.  Servo motors can travel at speeds of around 900 mm/s and are ideal for short-stroke movements such as bending and gripping and are thus used in several industrial and commercial applications.

Key Drivers and Trends fueling Market Growth:

• Industrial Revolution 4.0
• Growth in CNC Machine Market
• Advancements in Automation Industry
• Demand from Medical Applications

Servo Motors and Drives Market – Geography

The APAC servo motors and drives market is expected to grow at a significant rate during the forecast period, owing to increased demand from countries such as China, Japan, and India. South Korea and Australia are emerging markets for the production and consumption of servo motors and drives. Continuous adoption of industrial automation in several countries of APAC and activities such as manufacturing, construction, power generation, and mining are significantly contributing to the growth of the servo motors and drives market in the APAC region. One of the key strategies among vendors for enhanced growth include increasing investments and expansion in emerging nations in APAC. Hence, the sale of servo motors and drives in the region is expected to further boost in the forecast period.

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Servo Motors and Drives Market by Geography

• North America
• US
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• APAC
• China
• Japan
• South Korea
• India
• Australia
• Latin America
• Brazil
• Mexico
• Chile
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• Turkey
• Rest of the Middle East

Major Vendors

• Emerson
• Siemens
• Rockwell Automation
• ABB
• Mitsubishi Electric
• Delta
• Fuji Electric
• Yaskawa
• Sanyo Denki
• Parker Hannifin
• Allied Motion
• Nidec

Other Prominent Vendors

• Ametek
• ARC Systems
• Bonfiglioli
• Oriental Motor
• Schneider Electric
• Callan Technology
• Panasonic Industry Europe
• Sew-Eurodrive
• FANUC
• Bosch Rexroth
• Kollmorgen
• HNC Electric
• Moog
• Tamagawa Seiki
• GSK CNC Equipment
• Infranor
• KEB Automation
• Beckhoff
• TECO Electro Devices

Explore our industrial machinery profile to know more about the industry.

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GUANGZHOU, China, Jan. 27, 2021 /PRNewswire/ — In selecting the 2020 «SUV of the Year» for the Middle East, the star SUV model GS5 produced by GAC MOTOR is undoubtedly one of the best choices. GS5 attracted widespread attention from the mainstream media in the Middle East with its stunning aesthetics and multiple features. Through excellent product quality and providing value beyond expectations, GS5 has greatly met the needs of consumers in the Middle East for mobile travel, attaining high levels of customer satisfaction.

The front grille of GS5 adopts GAC MOTOR’s unique «Flying Dynamics Grille 3.0» design concept, giving a strong visual impact together with its dazzling matrix LED headlights. The strong lines of its body contour display a steady and high-spirited attitude, complementing the owner’s temperament and taste.

GS5 adopts the new dual-zone air conditioner developed by DENSO, a world-class air conditioning system supplier. It provides a fast cooling, low noise, and comfortable air outlet experience. GS5 also has multiple safety features, integrating ESP electronic stability system, HBA emergency brake system, as well as HHC and HDC systems for uphill and downhill movement, respectively. These safety systems provide full coverage from prevention to protection.

Equipped with the third generation of GAC MOTOR 270T engine and Ericsson 6AT manual automatic transmission, it delivers a good user experience with fast throttle response, rapid steering response, and smooth gear shifting. In addition, the high-performance Macpherson gear suspension in front combined with the multi-link independent suspension system at the rear, gives the body strong stability and adaptability to navigate uneven road conditions smoothly.

As for the interior space, with 4695mm body length and 2710mm wheelbase, GS5 provides ample room for back-seat passengers and flexible large storage space, meeting the needs of car users who pursue comfort and space.

Quality and reputation are the «twin engines» of a brand. In the past year, GS5 has won many awards in the Middle East market, which shows that GS5 is not only popular in design and performance, but also excellent in professional evaluation, recognized by both the media and the industry.

Presently, GS5 is popular in Saudi Arabia, Kuwait, UAE, Bahrain, and other Middle East countries. In the future, GAC MOTOR will continue to introduce new models, providing more choices for local consumers, and continue to create high-quality, high-tech mobile travel.

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– Emerging trend of utilizing aluminum-cast automotive parts, due to their ability to diminishing weight, is foreseen to accentuate  demand for aluminum foundries in the years to come

– Advent of high-precision technologies, such as 3D printing, and strict environmental norms are expected to restrain development of the global foundry chemicals market in near future

ALBANY, N.Y., Jan. 26, 2021 /PRNewswire/ — The foundry refers to a factory producing various metal castings. In this process, metals are melted and molded into different sizes and shapes. After melting, the liquid is then poured into a desired mold, which is then eliminated once the metal is solidified. Cast iron and aluminum are the most common metals owing to the low cost and plentiful availability. Fluxes, coatings, additive agents, and binders are different types of foundry chemicals. The demand for parting agents, sand additives, mold binders, and core in aluminum, steel, and iron foundries always remain high. These factors are estimated to support growth of the global foundry chemicals market over the projection timeframe, from 2019 to 2027.

In an effort to better production efficiency and quality of products, foundry chemicals are developing constantly. They are taking help of various technological innovations, such as 3D sand printing technology to achieve desired quality and production efficiency. Technological advancements are likely to open plethora of opportunities for the global foundry chemicals market over the assessment timeline, from 2019 to 2027.

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Increased demand for foundry chemicals, such as aluminum in the making of lightweight vehicles is foreseen to create augmented demand for foundry chemicals. Expanding at around ~3% CAGR, the global foundry chemicals market is likely to reach US$ 2.9 Bn by 2027.

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Key Findings of Foundry Chemicals Market Study

Growing Demand for Fuel Efficient Vehicles to Work in Favor of the Market

The casting products are increasingly utilized in different applications, such as construction equipment, auto components, automobiles, and tractors. Foundry chemicals are extensively used in the making of various auto components, which is likely to bode well for the global foundry chemicals market in the years to come. In addition to automotive, marine, defense, medical, petrochemicals, and aerospace also make extensive use of foundry chemicals.

Iron and steel melt shops generate high demand for foundry chemicals, which has resulted in various technological developments like sleeve construction kit (SCK) for spot feeding of heavy duty steel and iron casting, and cutting-edge developments in spot feeders for pliable iron castings. Such innovations are anticipated to benefit the manufacturers in the global foundry chemicals market in the years to come.

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Incorporation Technological Developments to Overcome Market Challenges

Harmful effects of foundries’ casting operations cause major concerns about environment. In an effort to meet up with the increasingly strict carbon regulations laid down by different government agencies, manufacturers are thinking of ways to change their ways of doing business and its operations so as to achieve the much needed long-term sustainability. With the introduction of environment-friendly technologies, such as MIRATEC TC technology by ASK Chemicals, different companies are trying to reduce adverse effects of their operations on the environment. Such technological developments are likely to widen scope of the global foundry chemicals market in the years to come.

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Foundry Chemicals Market: Key Driving Factors

• Increased use of foundry chemicals, such as aluminum, by the automotive industry for making lightweight vehicles and achieving fuel efficiency is likely to bolster demand for these chemicals. Aluminum has been increasingly replacing iron and steel in the making of automotive parts, thanks to its lightweight, durability, and strength.
• Foundries are increasingly integrating technological developments in the making of various casting parts. Certain technologies, such as automated 3D printing of complex parts, are increasingly utilized in aluminum, steel, and iron applications.  This factor is fueling demand for industry specific foundry chemicals.
• Strict environmental regulations formulated for the foundry industry are likely to affect the consumption of foundry chemicals adversely across the globe.

Foundry Chemicals Market: Key Market Participants

Some of the prominent industry players in the global foundry chemicals market include HÜTTENES-ALBERTUS Chemische Werke GmbH, Georgia-Pacific Chemicals LLC, Mancuso Chemicals Limited, ASK Chemicals GmbH, General Chemical Corp., and Vesuvius Corporate.

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BANGALORE, India, Jan. 25, 2021 /PRNewswire/ — The Smart Transportation Market is Segmented by Type (Roadways, Railways, Airways, Maritime), Application (Shared Mobility, Public Transport, Route Guidance, Transit Hubs, Autonomous/Vehicles, Video Management, Others): Global Opportunity Analysis and Industry Forecast, 2021-2026. This report is published on Valuates Reports in the Transportation & Logistics Category.

The global Smart Transportation market size is projected to reach USD 121,220 Million by 2026, from USD 74,990 Million in 2020, at a CAGR of 8.3% during the forecast period 2021-2026.

Major factors driving the growth of smart transportation market size are technological advancement to enhance customer experience, growing government initiatives and PPP models for smart transportation, rising urban population and high demographic rates, and growing adoption of IoT and automation technologies to enhance technological optimization.

The report offers a comprehensive analysis and accurate statistics on revenue by the player for the period 2021-2026. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by players for the period 2021-2026.

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TRENDS INFLUENCING THE GROWTH OF SMART TRANSPORTATION MARKET SIZE

Technological advancements to enhance customer experience is expected to drive the smart transportation market size. The efficient implementation of smart transportation solutions depends heavily on the various facets of technologies such as data communication, cloud, mobility, and sensors that together form the IoT architecture. In recent years, rapid developments in these areas have allowed better object communication, resulting in the creation of smarter ecosystems. 

Furthermore, the development of automatic vehicles is expected to provide significant opportunities for the growth of the smart transportation market size. Across the automotive sector, the trend of creating driverless vehicles can be observed. With tremendous technological development, semi-autonomous and autonomous vehicles are undergoing rapid evolution. Although it will take considerable time to incorporate autonomous vehicles on a wide scale, many transportation operators are expected to deploy semi-autonomous vehicles in the future. The introduction of autonomous vehicles is important for the growth of the smart transportation market as these vehicles do not need drivers and will result in a cost reduction for mobility service providers.

As smart transport is an integral part of every smart city, growing investments in smart city initiatives are expected to fuel the growth of the smart transportation market size.

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SMART TRANSPORTATION MARKET SHARE ANALYSIS

Based on transportation mode, the roadways segment is expected to hold the largest smart transportation market share during the forecast period. This rapid growth of the segment is attributed to the rising adoption of intelligent mobility solutions across major cities around the world. In addition to the introduction of these smart technologies, the rapid growth of the smart transportation market can be credited with a remarkable increase in government patronage and financial support to revamp the transportation industry.

The software segment is expected to grow at the highest CAGR during the forecast period. This is due to the usage of various smart transportation software, including parking management, traffic management, security & surveillance, ticket management, and passenger information management. Among these, the security & surveillance software segment is expected to hold the largest smart transportation market share. 

Based on region, North America is expected to hold the largest smart transportation market share due to its advanced infrastructure. Asia-Pacific, on the other hand, is expected to witness the highest growth during the forecast period. In other regions such as Europe and MEA, the growth will be drive-by favorable government initiatives. 

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SMART TRANSPORTATION MARKET SEGMENTS

Smart Transportation Market segment by Type, the product can be split into

• Roadways
• Railways
• Airways
• Maritime

Smart Transportation Market segment by Application, split into

• Shared Mobility
• Public Transport
• Route Guidance
• Transit Hubs
• Autonomous/Vehicles
• Video Management
• Others

Smart Transportation Market segment by Regions/Countries, this report covers

• North America
• Europe
• China
• Japan
• Southeast Asia
• India
• Central & South America

The key players covered in this study

• Thales Group
• Huawei
• Siemens
• IBM
• Cisco Systems
• SAP
• Cubic
• Alstom
• Bombardier
• Toshiba
• Harris
• Bentley Systems
• Saab
• Trimble
• Veson Nautical
• Advanced Navigation and Positioning
• Bass Software
• Indra Sistemas

«We can also add the other companies as you want»

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SUBSCRIPTION

• Smart Cities Market

The Global Smart Cities Market size is expected to reach 252.56 Billion USD by the end of 2025, with a CAGR of 16.53% between 2019 and 2025.

Among regions, APAC is projected to hold the largest smart city market share by 2023 and is expected to lead the smart cities market, in terms of growth, from 2019 to 2025.

• Smart Railways Market

The global Smart Railways market size is projected to reach US$ 13690 million by 2026, from US$ 12580 million in 2020, at a CAGR of 8.2%% during 2021-2026.

• Railway Management System Market

The global Railway Management System market size is projected to reach US$ 30030 million by 2026, from US$ 27600 million in 2020, at a CAGR of 8.2%% during 2021-2026.

APAC is expected to hold the largest market share during the forecast period. This is due to the increase in the adoption of new technologies and high investments for digital transformation. The increasing GDP of the APAC countries is also expected to contribute to market growth.

• Transportation Management System Market

The global Transportation Management System market size is projected to reach USD 6633.8 Million by 2026, from USD 2853.1 Million in 2020, at a CAGR of 15.1% during 2021-2026.

• Drone Logistics and Transportation Market

The global Drone Logistics and Transportation market size is projected to reach USD 5930.1 Million by 2026, from USD 5308.5 Million in 2020

• On-Demand Transportation Market

The Global On-demand Transportation Market is expected to grow from USD 86,497.92 Million in 2019 to USD 172,066.68 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 12.14%.

On-Demand Transportation market size is increasing due to increasing demand to tackle rising fuel prices, traffic congestion, and emissions standards.

• 5G in Automotive and Smart Transportation Market

The global 5G in Automotive and Smart Transportation Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2020 to 2026. The Report contains segmentation by Type (Hardware Components, Service, Others), By Application (Automotive Manufacturing, Automotive Driving, Others) and Regional Opportunity Analysis and Industry Forecast.

 To see the full list of related reports on the Smart Transportation

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• Ultra-wideband technology applied
• Industry’s top-level location detection precision with improved security
• «Accelerating inroads into the digital key module market»

SEOUL, South Korea, Jan. 25, 2021 /PRNewswire/ — LG Innotek (CEO Cheol-dong Jeong) revealed on the 25th that it had succeeded in developing a digital car key module with improved location detection precision and security.

A digital car key module is a communication component that is installed in a car and allows wireless data transmission between a car and a smartphone. A digital key is a next-generation car key that allows users to open or lock the car door or start the engine using a smartphone. A driver can use his/her smartphone to oversee the vehicle conditions, including driving distance, fuel efficiency, tire pressure, etc., at a glance as well as control the vehicle.

Users can lend the digital key to another person or allow only specific functions, such as opening or closing the trunk, using a smartphone app. Users don’t need to carry a physical key, reducing the risk of losing the key. Also, the smartphone must be inside the car to drive it, reducing the risk of car theft.

As the car sharing and rental services have grown recently, the demand for a digital car key module has increased every year. But the existing digital car key modules had low location detection precision and concerns for low security as they were prone to hacking, etc.

The digital car key module that LG Innotek developed uses the ultra-wideband (UWB) technology, which is a wireless LAN communication technology, and a proprietary algorithm, improving the location detection precision. In addition, the module has increased the security by applying a proprietary hacking prevention technology.

• Industry’s top-level location detection precision with improved security

The digital car key module that LG Innotek developed can detect the location of a smartphone 5 times more precisely than the existing key modules. The module’s error range between the actual smartphone’s location and the recognition location has been reduced from 50 cm (19.7 in) to under 10 cm (3.9 in).

For example, if an existing car key module detects that a smartphone is located between 4.7 m (15.4 ft) and and 5.2 m (17.1 ft) from the module when the phone is actually 5 m (16.4 ft) away, the LG Innotek’s new digital car key module can detect that the smartphone is located between 4.9 m (16.1 ft) and 5 m (16.4 ft), which is a fairly good accuracy.

To achieve this, LG Innotek used the ultra-wideband technology with better precision for distance and direction than the Bluetooth low energy (BLE) technology. In addition, for the module, LG Innotek used its proprietary design technology for a wireless communication antenna and its proprietary location measurement algorithm.

The more precisely a digital car key module detects the location of a smartphone, the more diverse and more convenient functions can be implemented. The digital car key module can detect the smartphone location and open the driver’s seat door in advance or start the engine automatically.

In addition, it can provide a driver with personalized driving environment. When several people use the same car, the module can recognize the smartphone location and set the driver’s seat or side-view mirrors automatically for the corresponding driver. When several people with the same digital car key get on the vehicle, the module can detect the person on the driver’s seat accurately.

This module also enhanced the security for a car. LG Innotek’s proprietary hacking prevention technology prevents electromagnetic interference and tampering of communication between vehicle and smartphone. This drastically reduces the possibility of car theft due to the loss of smartphone or digital key hacking.

With all these functions, the digital car key module is compact and slim. The module, with the size of a single clip thanks to the ultra-precision high integration technology, contains about 60 components including RF (radio frequency) element, power block element, etc. With its compact size, it can be freely installed anywhere inside and outside the vehicle.

Besides, the module complies with the latest standards of the Car Connectivity Consortium, a global digital key standardization organization, allowing it to be used regardless of country, terrain, and vehicle type. LG Innotek is a core member of this organization and actively participates in the standardization of a digital car key in cooperation with major global companies in the industry.

• «Accelerating inroads into the automotive digital key market»

With the digital car key module, LG Innotek plans to actively make inroads into the market for next-generation communication components. The company is actively running promotions targeting global manufacturers of vehicles and vehicle components in the US, Japan, and Europe as well as in Korea with the aim of mass-producing the product by 2020.

Insoo Ryu, the Head of Automotive Components & Electronics Business Division, says, «It will be possible to implement various mobility services using the digital car key module to enhance customer value.» He adds, «We will continue to release innovative automotive components that can provide drivers with convenient, safe, and enjoyable driving experience.»

According to Strategic Analytics, a global market research institution, the number of vehicles with a digital key in the global market will increase by 360% from 6.3 million units in 2020 to 28.9 million units in 2025.

www.lginnotek.com

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