- Rapid expansion of the global electronic industry is projected to help the digital servo press market advance at a CAGR of 3.6% during 2022-2031
- The presence of sturdy manufacturing sector in South Korea, India, Japan, and China is estimated to boost demand opportunities in the Asia Pacific market
WILMINGTON, Del., Nov. 2, 2022 /PRNewswire/ -- The global digital servo press market is estimated to gain a value of US$ 1.17 Bn by the end of 2031, according to a review report by Transparency Market Research (TMR). In addition, the assessment notes that the market for digital servo press is expected to grow at a CAGR of 3.6% during the forecast period, from 2022 to 2031.
Companies operating in the digital servo press market are increasing investments R&Ds that focus on developing products using minimal components. Furthermore, several enterprises are concentrating on new product launch activities. Such factors are likely to boost the growth in the digital servo press market during the forecast period.
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Digital Servo Press Market: Key Findings
- Due to surge in the petroleum prices, major people across the globe are inclining toward the use of electric vehicles. Moreover, there has been increase in the production of electric vehicles globally. These factors are resulting into increase in the demand opportunities for the digital servo press market.
- The adoption of varied renewable energy sources including solar, tidal, and wind is being rising in the recent years. Generally, the machinery utilized in such renewable sources of energy are incorporated with the digital servo press in their production process. Hence, increase in the use of renewable energy is likely to help in the rapid market growth, states a TMR study that delivers in-depth insights on the servo press market trends.
- The demand for different types of household electronic devices is being rising in many developed and developing nations globally as the spending power of people from these countries is improving. Hence, the electronic industry is witnessing growth at significant pace in the recent years, notes a TMR report on the digital servo press market. Thus, there has been increase in the demand for digital servo press by electronic products manufacturers, note analysts of a TMR review.
- Digital servo press are being utilized in certain metal components of smartphones in order to achieve high level of precision while developing components. Hence, rise in the penetration of smartphones in several nations globally is driving the demand for digital servo press across the globe. This, in turn, is expected to drive the market growth, states a TMR analysis report that provides key statistics pertaining to the linear digital servo press market size.
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Digital Servo Press Market: Growth Boosters
- The growth of the electronic industry across many developed and developing countries is prognosticated to lead to the expansion of the digital servo press market share.
- Surge in the adoption of electric vehicles around the world is expected to drive the demand opportunities in the digital servo press market during the forecast period.
Digital Servo Press Market: Regional Analysis
- The market players are expected to gain sizable business opportunities in Asia Pacific during the forecast period owing to rapid expansion of the manufacturing sector in several emerging economies such as India, Japan, South Korea, and China.
- The servo press market analysis by TMR states that Europe and North America are likely to gain lucrative prospects in the near future owing to increase in the number of manufacturing plants in several regional nations.
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Digital Servo Press Market: Key Players
Some of the key players profiled in the report are:
- Hoden Seimitsu Kako Kenkyusho Co.,Ltd.
- Dai-ichi Dentsu Ltd.
- Promess Incorporated
- AMADA MACHINE TOOLS CO., LTD.
- C&M Robotics Co, .Ltd.
- Sanyo Machine Works Ltd
- Komatsu America Industries LLC
- Stamtec, Inc.
- Janome Industrial Equipment
- Coretec, Inc.
Digital Servo Press Market Segmentation
- Type
- Less than 100KN
- 100KN - 200KN
- More than 200KN
- Motor Type
- Positional Rotation
- Continuous Rotation
- Linear
- Application
- Automotive
- Motor and Electronic Industry
- Aerospace
- Others (Medical Equipment, Robotics, etc.)
- Distribution Channel
- Direct
- Indirect
- Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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