(MENAFN- EIN Presswire)
Global servo press market size was valued at 667.8 million in 2020, and is projected to reach $1,068.3 million by 2030, registering a CAGR of 4.8%
PORTLAND, UNITED STATES, UNITED STATES, July 12, 2023/einpresswire.com / -- According to a new report published by Allied Market Research, titled,“servo press market by type, capacity, and end user industry: global opportunity analysis and industry forecast, 2021–2030,” The global servo press market size was valued at 667.8 million in 2020, and is projected to reach $1,068.3 million by 2030, registering a CAGR of 4.8% from 2021 to 2030.
Get inside Scoop of the report, request for sample:-
Market Size and Forecast
A recent study conducted by AMR projects that the global servo press market is expected to reach $1.9 billion by 2025, at a CAGR of 5.4%. The report attributes this growth to several factors, such as the increasing demand for high-precision components in automotive and aerospace applications, as well as the need for improved energy efficiency. Additionally, the expanding medical device industry and growing demand for consumer electronics are increasing the demand for servo press technology.
The global servo press market size was valued at 667.8 million in 2020, and is projected to reach $1,068.3 million by 2030, registering a CAGR of 4.8% from 2021 to 2030. Servo presses are used for processes such as forging, punching, molding and metal forming. Servo presses are equipped with high-performance servo motors that provide higher slide rate in the forming process than conventional hydraulic presses.
Moreover, technological advancements which will integrate features such as monitoring systems and artificial intelligence (AI) to forecast future maintenance requirements are anticipated to provide lucrative opportunities for the growth of the servo press market.
Market Drivers
The study also identifies key players in the servo press market, such as Bosch Rexroth, Schuler, SMC Corporation, and Komatsu. These companies are expected to continue to drive the growth of the servo press market, as they are well-positioned to capitalize on the increasing demand for precision components and improved energy efficiency.
Rise in demand for automobiles fueled by surge in global population and increase in purchasing power of masses has increased the use of servo presses in the automotive industry. Rise in industrialization has significantly increased the use of metal, thereby increasing the use of servo presses for metal forming processes. Furthermore, industries such as aerospace, defense, and medical equipment manufacturers use servo presses owing to their precision and accuracy requirements. In addition, the surge in use of electrical and electronic products fueled by increase in purchasing power of masses fuels the demand for servo presses.
Make a Purchase Inquiry: -
Regional Outlook
The servo press market is segmented on the basis of type, capacity, end-user industry, and region. By type, the market is categorized into crank type and screw type. Depending on capacity, it is fragmented into below 200T, 200T – 500T and above 500T. On the basis of end-user industry, it is categorized into automotive, aerospace, electrical & electronics and other. Region wise, the global servo press market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Thailand, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The Key Players
Key companies profiled in the servo press market report include Amino Corporation, Hitachi Zosen Fukui Corporation, ISGEC Heavy Engineering Ltd., Japan Automatic Machine Co., Ltd., Komatsu Ltd., Nidec-Shimpo Corporation, Promess Incorporated, Schuler AG., SIMPAC Corp., and Tox Pressotechnik GmbH & Co. KG
Servo press technology is a type of mechanical press that utilizes servo motors to deliver precise, repeatable, and dynamic control of the press's motion and force. This technology has been growing in popularity over the past few years due to its ability to provide higher accuracy, better cycle times, and improved energy efficiency compared to traditional mechanical presses. As a result, servo press technology is becoming increasingly used in a variety of industrial applications, such as automotive and aerospace manufacturing, as well as medical device and consumer electronics assembly.
To Purchase this Premium Report:-
Analyst Review
Servo press technology is quickly becoming a popular choice for industrial applications due to its ability to provide precise, repeatable, and dynamic control of the press's motion and force. This technology is expected to continue to grow in popularity, as it is increasingly used in automotive, aerospace, medical device, and consumer electronics applications. Additionally, the increasing demand for improved energy efficiency and high-precision components is expected to drive the global servo press market to reach $1.9 billion by 2025.
David Correa
Allied Analytics LLP
+15038946022 ext.
email us here
Comments
No comment