Press release
Servo Press Market Expected to Reach $1,068.3 Mn, by 2030 | Allied Market Research
The Servo Press Market is segmented by Industry into Aerospace, Automotive, Electrical and Electronics, and Others. During 2021, the Electrical and Electronics category had the most potential revenue share in the Servo Press Market.
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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.
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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.
Key Findings Of The Study
• The report provides an extensive analysis of the current and emerging servo press market trends and dynamics.
• Depending on type, the screw segment dominated the servo press market share, in terms of revenue in 2020 and is projected to grow at a significant CAGR during the forecast period.
• By capacity, the above 500T segment has registered highest revenue in 2020.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• Depending on end user industry, the automotive segment dominated the market, in terms of revenue in 2020, and electrical & electronics segment is projected to grow at a significant CAGR during the forecast period.
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Market players-
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
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