A 2x increase in revenue to be witnessed in the global servo press market during the forecast period
Servo press is a machine which uses a servomotor as its driving source. Servomotor provides control over position of the output shaft as well as on speed. They have a closed loop feedback system which accurately and efficiently controls the loads and cycle rate due to which it has huge applications in high forming loads. Servo presses are widely used in sheet metal forming operations as they offer flexibility, controllability and simplicity. Maximum life of the tool and at the same time minimum power consumption are the main features of servo presses, that ultimately result in significant lowering of manufacturing costs.
The extensive research report on servo press by Persistence Market Research covers several aspects of the global market that have an impact on the growth of the market in the long run. The servo press market has been experiencing continual growth since past several years. According to this research report, the global market for servo press is expected to reach a significant valuation by the end of the year of assessment, to reflect a value over US$ 3800 Mn by 2025 end from a value of around US$ 1900 Mn in 2017. The global servo press market is projected to expand at a value CAGR of 9.1% throughout the period of assessment, 2017-2025. This expansion can be attributed to increasing focus on reducing weight of vehicles in order to enhance fuel efficiency and increasing local and foreign direct investment in automotive industry.
Servo press market witnessing high revenue growth owing to its adoption in the automotive sector on a large scale
Servo press is used in the automotive industry for various metal forming solutions. Various OEMs in the automotive sector use servo press to continually enhance their product quality. In the automotive sector, servo presses are typically used for high quality assemblies at high volumes. The automotive end use industry segment is the largest and most attractive. The market valuation of automotive segment is expected to reach above US$ 2 Bn by the end of the assessment period from a value of about US$ 1300 Mn in 2017. This segment is also expected to register a high value CAGR of 9.0% during the forecast period.
Use of servo press in the electrical and electronics sector to significantly increase in the coming years
In the electrical and electronics sector, manufacturers of consumer electronics use high or low force presses based on the application. Predominantly, they are used to install connectors with high volume compliant pins onto PCBs. The use of servo press is expected to increase significantly in this industry. The electrical and electronics end use segment is projected to rise at high value CAGR and is estimated to touch a valuation of more than US$ 500 Mn by the end of the year of assessment (2025). This segment is expected to be the second largest, substantially contributing to the growth of the overall market. Servo presses are also used in other end use industries such as medical devices and jewelry. Medical device manufacturers use servo press due to their ability to accurately control as well as measure small force levels. Manufacturers of jewelry use low to moderate force presses to assemble the gears in premium watches. The other segment is the smallest in terms of market value.
This comprehensive report on the global servo press market assists the reader in chalking key growth strategies based on valued insights with a view to attain a greater tempo even with the dynamically changing market scenario. The research report covers a detailed forecast analysis for a period of eight years, from 2017 till 2025 that gives a realistic idea about the future growth path of the servo press market along with key assessment on possible future moves.
Global outlook in a nutshell
Global servo press market research report focuses on several trends, opportunities, restraints and drivers across key regions in the globe. This delivers a global outlook of the market by covering all the key areas presenting a holistic view of the market. This assists the reader to get a detailed understanding about the regions with optimum potential in order to slate investment decisions and expansion strategies. The research study eliminates all the biasness giving a more realistic shape to the market acumen. This research report can address pain points of the reader by portraying key vitals of the servo press market.
Strong research approach adopted for an exquisite market study
Credibility of the researched data and statistics lie in the uniqueness of the research methodology which ensures higher accuracy. In-depth assessment of the global servo press market is underpinned by a systematic and intense research process that includes both secondary and primary research to obtain relevant market numbers. The data collected undergoes several funnels of validation and re-examination at each step, as the research progresses. This ensures delivering value with data having higher degree of accuracy. The expert opinions of the market observers and the domain experts is extrapolated and triangulation of these enables the analysts to arrive at a much accurate global market representation.
Complete market intelligence package
The research report on global servo press market involves a separate section which focuses on the key players and the competition standing in the global market. The section involves the strategies applied by the key players, their product portfolios, their innovations, developments and product evolutions, their area wise spread and future expansion plans, the mergers and acquisitions taken place, the market shares and revenues of these tier players, financials, key personnel, etc. This intelligence dashboard completes with the inclusion of the analysis of the various aspects of the key competition in the market. Competitive assessment has been done in a systematic way to enable the reader to draw necessary conclusions.
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End Use Industry