Increasing investments in end-user segments such as automotive, industrial automation, and packaging will enhance growth prospects for servo and stepper systems in Europe.
That’s the key finding of a recent study by Frost & Sullivan, a consultancy that helps develop growth strategies for a wide variety of manufacturers and other businesses.
Several key factors are promoting market expansion for European servo and stepper systems, including compact design, reduction in installation time, enhanced efficiency, and the move towards decentralized motor drive systems The Frost & Sullivan study, “Strategic analysis of servo and stepper systems market in Europe,” finds that the market earned revenues of 1,623.3 million Euros ($2,016 million) in 2010 and estimates this to reach 3,385.4 million Euros ($4204.66 million) in 2017.
The drive for energy efficiency and decentralized systems is highlighting the need for efficient servo and stepper systems,” notes Frost & Sullivan research analyst Raaj Thilak Raveendran. “This shift towards energy efficiency will boost demand levels over the next seven years.”
In addition, the end-user need for customized and energy-efficient products is creating demand for integrated drive solutions. The potential increase in functionalities of servo and stepper systems is projected to expand the range of applications across various end-user segments, which in turn will increase overall revenues. The benefits of integrated servo and stepper systems, such as networking capabilities and application-oriented programming, will underpin market growth over the forecast period.
“The major challenge faced by manufacturers will be to provide integrated package solutions for servo systems,” states Raveendran. “Integrated solutions can be used directly for specific applications. This is a challenge for both end users and OEMs, since they have to find the best fit for existing servo motors/servo drives.”
For more information on this study, contact Anna Zanchi
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