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COVID-19: Significant Shift in Strategy of Motors And Drives Services Market 2020-2024 | Increasing Demand for Servo Motors and Brushless Motors to Augment Growth | Technavio

Technavio has been monitoring the motors and drives services market and it is poised to grow by USD 2.28 billion during 2020-2024, progressing at a CAGR of almost 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Motors and Drives Services Market 2020-2024 (Graphic: Business Wire)

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Danfoss AS, Mitsubishi Electric Corp., Nidec Corp., Regal Beloit Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, WEG Equipamentos Eletricos SA, and Yokogawa Electric Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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The increasing demand for servo motors and brushless motors has been instrumental in driving the growth of the market. However, intense competition among vendors might hamper market growth.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/motors-and-drives-services-market-industry-analysis

Motors and Drives Services Market 2020-2024: Segmentation

Motors and Drives Services Market is segmented as below:

  • Product
    • Motors
    • Drives
  • End-user
    • Process Industry
    • Discrete Industry
  • Geography
    • APAC
    • Europe
    • North America
    • South America
    • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43873

Motors and Drives Services Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The motors and drives services market report covers the following areas:

  • Motors and Drives Services Market Size
  • Motors and Drives Services Market Trends
  • Motors and Drives Services Market Industry Analysis

This study identifies the focus on increasing energy efficiency in industries as one of the prime reasons driving the motors and drives services market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Motors and Drives Services Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist motors and drives services market growth during the next five years
  • Estimation of the motors and drives services market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the motors and drives services market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of motors and drives services market, vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by product
  • Motors - Market size and forecast 2019-2024
  • Drives - Market size and forecast 2019-2024
  • Market opportunity by product

Market Segmentation by End-user

  • Market segments
  • Comparison by end-user
  • Process industry - Market size and forecast 2019-2024
  • Discrete industry - Market size and forecast 2019-2024
  • Market opportunity by end-user

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • ABB Ltd.
  • Danfoss AS
  • Mitsubishi Electric Corp.
  • Nidec Corp.
  • Regal Beloit Corp.
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • WEG Equipamentos Eletricos SA
  • Yokogawa Electric Corp.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200622005571/en/

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