Global Servo-Drives And Servo-Amplifiers Revenue Market Scale Was $ 8219.78 Million In 2018
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A servo drive is a special electronic amplifier used to power electric servomechanisms. A servo drive can also be referred to as an amplifier, because it takes the control signal from the controller and amplifies it to deliver a specific amount of voltage and current to the motor.
The Servo-Drives and Servo-Amplifiers industry is relatively scattered. These manufacturers range from large multinational corporations to small privately owned companies compete in this industry. The top 5 producers account for about 33 % of the revenue market.
In the past few years from 2013 to 2018, global Servo-Drives and Servo-Amplifiers revenue market scale was from 6795.19 million US dollars to $ 8219.78 million with an average growth rate of 3.88%. At Present, the Servo-Drives and Servo-Amplifiers market mainly concentrated in North America, Europe and Asia-Pacific. Among them, Asia-Pacific is the largest consumption region with a market share of 42% in terms of sales in 2018.
Less than 2KW is the dominated type of Servo-Drives and Servo-Amplifiers, which occupied above 54% of the production market in 2018. The downstream industry demand is the major driving factor. As for downstream field, Machine Tools is the largest application field which account for about 33% market share.
The impact on the cost and availability of raw materials is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors such as energy prices increase, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.
With emerging economies growing faster, a strategy has been adopted by most leading vendors in the Servo-Drives and Servo-Amplifiers market to approach these areas. The Servo-Drives and Servo-Amplifiers market indicated that Asia-Pacific would account for the highest sales in 2023 with close to 44 percent of global revenue share, and has the highest growth rate. Vendors recognize the importance of this region, particularly in China, and are working towards penetrating this market by strengthening their sales and distribution networks.
Although the market competition of Servo-Drives and Servo-Amplifiers is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of Servo-Drives and Servo-Amplifiers and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.