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:- https://www.alliedmarketresearch.com/request-sample/15847
Crank and screw are two commonly used types of servo presses. Among these, the screw segment accounts for the largest market size by value in 2020, owing to increase in demand from automotive and electronics manufacturing industry. Like mechanical servo presses, this type of servo press is famous for its full speed and stronger force that can be delivered at any desired location. Extrusion applications that need fast motions at the end of the cycle or longer process strokes are better suited for the servo screw press machine. To enhance the manufacturing cycle, several firms are concentrating on developing innovative screw press machines that can vary the pressing speed and press loads. Promess Incorporated, for example, released FlexIQ for high mix assembly solutions in August 2021, which provides precise screw pressing and iterated servo drive, force, and position detection. Such considerations have a beneficial influence on the market for screw type servo presses.
In 2020, Asia-Pacific dominated the global servo press market, in terms of revenue, accounting for around 45.9% share of the global market, followed by North America and Europe. Moreover, the market in Asia-Pacific is growing with high CAGR, owing to urbanization and economic development in developing countries.
Moreover, increase in demand for efficient and precise metal forming machines and rapid growth of automotive industry drives the servo press market growth. In addition, increase in use of electrical and electronic products fueled by increasing per capita income in emerging economies propels demand for servo presses.
Furthermore, on the basis of end-user industry the automotive segment has dominated the servo press market in 2020, with a CAGR of 3.9% during the forecast period, owing to growth of automotive industry in emerging economies.
For instance, according to India Brand Equity Foundation, the Indian Government is anticipating local and foreign investments around $8-10 billion in the automotive sector by 2023. And the Indian automotive industry is expected to reach US$ 251.4-282.8 billion by 2026.
However, during the pandemic lockdown, various manufacturers in the Servo press had to stop their business countries such as China, the U.S., and India. This break directly impacted sales of servo press companies. In addition, lack of manpower and raw materials also constricted supply of equipment of servo presses has negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of servo press companies.
The key players profiled in the Servo press industry 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
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: – https://www.alliedmarketresearch.com/purchase-enquiry/15847
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:- https://www.alliedmarketresearch.com/checkout-final/244967781488b8d482fa0993fbbc75ec
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.