Automotive Servo Motor Market to be dominated by Passenger Car Segment through 2026

[Mack Nene]

Increasing demand for high-performance motors and booming automotive industry is driving the growth in Global Automotive Servo Motor Market in the forecast period, 2022-2026.

According to TechSci Research report, “Automotive Servo Motor Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026, Segmented By Motor Type (AC, DC), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), By Demand Category (OEM vs Replacement), and By Region”, the global automotive servo motor market is anticipated to grow at a significant CAGR for the forecast period, 2022-2026. The rise in demand for high-speed automobiles across the globe is driving the demand for servo motors as they are precise and allow the automobile to change the speed rapidly in a convenient way. The development of advanced technology and the high demand for energy-efficient technologies in automobiles to maximize fuel efficiency are expected to fuel the demand for automotive servo motors. The increased demand for integration of ease to use and motion control components in automobiles to provide improved customer service is expected to accelerate the global automotive servo motor market growth. Servo motors used as a motion control component in automobiles to provide faster and quick reversing and improved performance is fueling the market demand.

However, fluctuations in the price of raw materials and availability of substitute motors may restrain the global automotive servo motor market growth for the forecast period.

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The global automotive servo motor market is segmented on the basis of motor type, vehicle type, demand category, regional distribution, and company.

On the basis of motor type, the global automotive servo motor market is divided into AC and DC. The AC segment is expected to hold a significant market share during the forecast period, 2022-2026. When combined with drives, the AC servo motor forms the closed-loop control system, which uses positive feedback to control the speed, motion and find the final position. The AC servo motor offers several advantages, including improved stability and performance along with low sensitivity to the variation in parameters. AC servo motors are considered cost-effective as they require no maintenance costs and are smaller and lighter in weight.

On the basis of vehicle type, the global automotive servo motor market is divided into passenger car, light commercial vehicle, and medium & heavy commercial vehicle. The passenger car segment is expected to account for a major market share for the next five years. Servo motors are used in automobiles to control their speed. When the gas pedal is hit in a passenger car, electric signals are sent to the attached ECU in the automobile. The ECU then processes the information and sends the information to the attached servo motor, which adjusts the engine speed.

On the basis of regional analysis, Asia-pacific is expected to witness the fastest incremental growth during the forecast period. The growing disposable income of the consumers and the rapid industrialization in the developing countries are driving the demand for servo motors in the region. The rise in the leading authorities' initiatives to boost the domestic manufacturing of semiconductor devices used in the manufacturing of automotive electronic devices is contributing to the market demand. The flourishing automotive industry and the growing investments to boost automobile manufacturing are expected to fuel the market demand for the next five years. Improvement in the economic conditions of the developing economies and the growing demand for technologically advanced automobiles is expected to foster the global automotive servo motor market demand.

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“The growing demand for electric vehicles around the globe owing to the rise in consumer awareness, and the stringent emission standards is expected to create lucrative opportunities for the global automotive servo motor market. The use of servo motors helps electric vehicles to attain the required speed and mileage. Governments of various developing economies are providing subsidies and income tax rebates to the electric vehicle manufacturers and launching initiatives for the development of the charging infrastructure, which is expected to contribute to the growth of automotive servo motor market till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.

“Automotive Servo Motor Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026, Segmented By Motor Type (AC, DC), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), By Demand Category (OEM vs Replacement), and By Region”, has evaluated the future growth potential of global automotive servo motor and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global automotive servo motor market.

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