Global Digital Servo Press Market 2023-2030

Global Digital Servo Press Market 2023-2030

Global Digital Servo Press Market Size, Share & Trends Analysis Report by Force Range (Less than 100KN, 100KN-200KN, and More than 200KN), and by Application (Automotive, Aerospace, Electronics, Plastic and Rubber Industries, and Metalworking) Forecast Period (2023-2030)

The global digital servo press market is anticipated to grow at a CAGR of 10.73% during the forecast period (2023–2030). The market’s growth is attributed to improved servo drive performance across the globe. The motor speed range, speed response frequency, and encoder resolution of the servo drives of the X Series are exceptional. These improvements significantly enhance the overall efficiency and productivity of digital servo press systems. Consequently, industry players are continuously innovating to meet the rising demand for such advanced series. For instance, in March 2021, Yaskawa launched the AAC servo drives “Σ-X Series”. The Sigma-7 series servo drive offers a motor speed range of up to 7000 RPM, the greatest speed response frequency in the globe of 3.5 kHz, and encoder resolution ranges up to 26 bits (67 million pulses/rotation). Additionally, it contains a data detection function for preventative maintenance and quality enhancement, a servo adjustment function for increased speed and accuracy, and additional features.

Segmental Outlook

The global digital servo press market is segmented on the force range and application. Based on the force range, the market is sub-segmented into less than 100KN, 100KN–200KN, and more than 200KN. Furthermore, based on the application, the market is sub-segmented into automotive, aerospace, electronics, plastic and rubber industries, and metalworking. The automotive subcategory is expected to capture a significant portion of the market share within the application segment. This is attributed to the increased demand for digital servo press systems with high force, especially in electric automobiles.

The Aerospace Sub-Segment is Anticipated to Hold a Considerable Share of the Global Digital Servo Press Market

Among the applications, the aerospace sub-segment is expected to hold a considerable share of the global digital servo press market. The segmental growth is attributed to the solution for scalable drives. The scalability of distributed servo drive technology enables manufacturers to customize drive solutions to the unique requirements of their equipment. The ability to personalize and optimize for different applications has been rendered possible through this flexibility, that is a motivating feature. Accordingly, market players are coming up with new products to cater to the demand for servo drives. For instance, in July 2023, Rockwell Automation, Inc. launched ArmorKinetix Distributed Servo Drives. The Kinetix 5700 platform has been expanded by the addition of the distributed servo drive, that provides customers with a scalable drive solution that enables them to produce machine designs that are leaner, greener, and more effective.

Regional Outlook

The global digital servo press market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the expansion of manufacturing facilities in the aforementioned nations is projected to increase demand for digital servo presses, as the construction of new production facilities increases demand for a variety of machinery, including digital servo motors and drives.

The European Region is Expected to Grow at a Significant CAGR in the Global Digital Servo Press Market

Among all regions, the European region is anticipated to grow at a considerable CAGR over the forecast period. The regional growth is attributed to the customization of electric vehicle (EV) components. The emergence of specialist replacement tires for electric cars is a sign of the customization trend in the sector. To satisfy the unique production requirements of EV components, digital servo presses can additionally be required to be adaptive and scalable. Accordingly, market players are coming up with new products to cater to the demand for new lines of electric vehicle replacement tires. For instance, in March 2023, Sumitomo Rubber Industries, Ltd. launched FALKEN e. ZIEX as a new line of replacement tires for EV in Europe. Europe has seen rapid growth in the EV sector. e. ZIEX is a second line of replacement tires developed specifically for electric vehicles, following DUNLOP ""e.

Market Players Outlook

The major companies serving the global digital servo press market include Emerson Electric Co., Endress+Hauser Group Services AG, General Electric Co., Honeywell International, Inc., IAI America, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2022, Industrial Service Solutions acquired full ownership of Servo South, Inc., a US-based electronic and electromechanical service business with a focus on Computer Numerical Control (CNC) equipment and automated production.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global digital servo press market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.