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Digital Servo Press Market Trends, Top Companies, Share, Growth And Forecast 2033
Digital Servo Press Market Trends
According to The Business Research Company's, The digital servo press market size has grown rapidly in recent years. It will grow from $2.51 billion in 2023 to $2.82 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to growth in demand for precision and high-quality manufacturing, need for improved control and monitoring in manufacturing processes, increased in automation in manufacturing industries, expansion of electronics and semiconductor manufacturing, adoption of servo presses in automotive manufacturing.
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Market Drivers and Trends:
An increase in demand for electric vehicles is expected to propel the growth of the digital servo press market going forward. EV refers to a vehicle that can be powered by an electric motor that draws electricity from a battery and is capable of being charged from an external source. Digital servo press machines are used to extend the forming limit and improve production precision, which is essential for the production of EV components. The precise control of the servo press enables harmonic movements of various devices such as hydraulic, air, and servomotor-controlled cushions with the main slide. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 compared to 2020, reached 16.5 million electric vehicles on the road. Therefore, the increase in demand for electric vehicles is driving the growth of the digital servo press market.
Major companies in digital servo press are focusing on advancements in technology, such as Sinamic's servo drive control system, to gain a competitive advantage and enhance their product offerings. The SINAMICS S200 is a servo drive system that provides motion control for stand-alone and networked machines. For example, in May 2023, Siemens, a Germany-based company that provides automation and digitalization in the process and manufacturing industries, launched a new servo drive system Sinamics S200, specifically designed for standard applications in the battery and electronics industry. The new system is optimized for performance, easy to use, and future-proof. The SINAMICS S200 servo package has several key features, including a built-in web server and one-button tuning, global standards including UL (Underwriters Laboratories), CE (Conformité Européene), and SEMI 47, security chip and UMAC protection, machine simulation fit for digitalization, and PROFITNET and Pulse Train versions of single-axis AC drive. The system also features an integrated brake resistor and integrated safety functions, which help to ensure safe operation.
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Major Key Players of the Market:
JANOME Corporation; Promess Incorporated; Kistler Instruments India Pvt. Ltd.; Sintokogio Ltd.; C&M Robotics Co. Ltd.; AIDA Engineering Ltd.; TOX PRESSOTECHNIK Ltd. UK; THK Co. Ltd.; IAI America Inc.; FEC Ltd.; Sanyo Machine Works Ltd.; Stamtec Inc.; DAI-ICHI DENTSU LTD.; CORETEC Inc.; AMADA PRESS SYSTEM CO. LTD.; FANUC Corporation; Komatsu America Industries LLC; Hitachi America Ltd.; Ingersoll Production Equipment; Beckwood Press Co.; Schuler AG; APEC Ltd.; Moog Inc.; SKF Motion Technologies; Niagara Press Company Inc.; KOMPAKT Press Automation GmbH; Taylor-Winfield Technologies Inc.; Dake Corporation; OMEGA Engineering Inc.; Tegelman Co. Inc.; Zaber Technologies Inc.; The Minster Machine Company; NIDEC-SHIMPO Corporation; Andantex USA Inc.; RENSONIC CORPORATION.; Kolver S.p.A.
Digital Servo Press Market 2024 Key Insights:
• The digital servo press market size is expected to see rapid growth in the next few years. It will grow to $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%.
• Automotive Industry Demand Driving Digital Servo Press Market Growth
• Enhanced Precision And Performance In Digital Servo Press Technology
• Asia-Pacific was the largest region in the digital servo press market share in 2023.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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