Global Motion Control Drive Market to Reach $8.4 Billion by 2031, Driven by Surge in Automation
The global motion control drive market encompassing servo drives, stepper drives, and variable frequency (VFD) drives was valued at US$ 4.9 billion in 2022. Driven by the surge in automation, robotics, and precision motor control requirements, the market is forecast to expand at a compound annual growth rate (CAGR) of 6.2% from 2023 through 2031, reaching US$ 8.4 billion by the end of the...
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