As predicted by analysts, the global servo motor market is growing at the compound annual growth rate of 6.04% during 2012 and 2016. One critical factor that has created this growth is the improvement of automation industry. The global servo motor market has witnessed that AC servo motors are taking place of DC servo motors. Nevertheless, on the issue of price, stepper motors, with relatively low price, has apparently become a challenging rival.
It is believed that in the global servo motor market, changing DC servo motors and utilizing AC servo motors is a mainstream. This is because AC servo motors have little wear during application and are maintenance-free. AC servos are less expensive and have higher efficiency than DC servos. In addition, it is extremely suitable to utilize AC servos in underpower applications. Therefore, providing underpower applications, users prefer to AC rather than DC servo motors.
It is said that a primary driving factor in the market is that automation has improved in different industries. The improving of automation is because companies are under the pressure of lowering manufacturing costs. Besides, due to fierce competition in the global servo motor market, companies have to improve their process automations.
Besides, a main challenge in the global servo motor market is that comparing with the high cost of servo motors, steppers are much cheaper. The price of a servo motor is 10-30% higher than a stepper motor. Furthermore, a brushless servo motor can be 50-100% more expensive than a stepper motor.