NEW YORK, Nov. 14, 2016 /PRNewswire/ -- Servo system, a key integral of industrial automation, can be divided into stepper servo system, DC motor servo system, and AC motor servo system. More than 70% of servo systems used now are AC motor servo systems. Global servo system market size was USD10.46 billion in 2015, a year-on-year growth rate of 5.0%, and is expected to expand to USD11.13 billion in 2016. Europe, the world's major servo system market, boasts a market size of roughly USD3.03 billion, but will see a drop in market share due to rapidly-growing Chinese/Japanese markets.The Chinese servo system market was valued at RMB7.36 billion in 2015, accounting for about 11.1% of the world's total and up 9.1% from a year ago. As CNC machine tool, electronic equipment, wind power equipment, and robotics, the downstream applications of servo system, are sectors under state policy support, the market is projected to grow steadily at a pace of around 10% during 2016-2020. China started late on servo system with technology lagging far behind that in foreign countries like low machining precision and relatively short service life of bearings in servo motor. As a result, China now produces mainly mid-and low-end servo systems and virtually relies on imports for high-end products.The Chinese servo system market is dominated by foreign brands. In 2015, seven out of top10 brands in the Chinese market were foreign ones and the remaining three were Taiwan-based TECO Electric & Machinery and Delta and Chinese mainland Shenzhen Inovance Technology. The top three were occupied by Japanese companies with each seizing a market share of over 10%.Panasonic: the largest servo system brand in terms of market share in China (14.4% in 2015). In Nov 2015, it launched new A6 servo motor which can be used in industry sectors and consumer market.Yaskawa: servo system production bases in Shanghai and Shenyang. It developed a servo motor with GaN power component and built-in amplifier in Nov 2015 and will start producing the product before 2017; rolled out a new product- New AC drive "Zero series" in Apr 2016.Siemens: traditional advantages in high-end servo system market; products chiefly used in CNC machine tool field. It launched new 200-volt converters and motors with lower shaft heights and lower moments of inertia in Nov 2015, further improving its basic servo drive system lineup.Shenzhen Inovance Technology: the largest servo system manufacturer on the Chinese mainland and the only domestic servo system manufacturer mastering servo encoder technology; products mainly used in mobile phone product line, lithium battery, LED, and manipulator fields. The company made revenue of RMB420 million from servo system business.Shenzhen INVT Electric: revenue of RMB86.70 million from servo system business in 2015, a year-on-year rise of 24.6%; The company officially launched DA200 high-precision general AC servo system primarily for high-speed and high-precision industries, such as warp knitting machine, die cutting machine, CNC engraving and milling machine, robotics, high-speed chamfering machine, and LED beam-splitting machine. Global and China Servo System Industry Report, 2016-2020 highlights the followings:Global servo system industry (development history/trends, market size/structure, competitive landscape, etc.); China's servo system industry (status quo, market size/structure, competitive landscape, distribution, etc.);Servo drive, servo motor, servo encoder, and motion controller markets (development, market size, major manufacturers);Main downstream sectors (machine tool, electronic equipment, robotics, wind power equipment, packaging equipment, textile machinery, etc.) of servo system (application, market status, etc.); 22 global servo system manufacturers (operation, servo system business, development in China, etc.) Read the full report: http://www.reportlinker.com/p04057029-summary/view-report.htmlAbout Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.