Global Digital Servo Press Market is Expected to Foresee Significant Growth During the Forecast Period. Asia-Pacific to Witness the Highest Growth

The global Digital Servo Press market is expected to grow significantly by 2027 expanding at a CAGR of around 5% during the forecast period (2021-2027).

Servo presses are driven by a servomotor. Just like the traditional press machines, they are made for forming applications. Servo presses are high-torque machines. They can produce the output pressing force with full energy at any point of an operation. As a result, they are ideal for processing high-strength materials.

A rise in the industrial sector including automotive, aerospace, electronics are driving the market of digital servo press. Servo presses are different from traditional mechanical presses. The flywheel, brake, and clutch are replaced by a servo motor that precisely controls the energy output. In addition, the servo motor enables the press to work at a variety of stroke lengths. The press can even reach a micron-level slide accuracy. As per United Nations Industrial Development Organization (UNIDO), manufacturing production across the world points to year-over-year growth of 12.0% in the first quarter of 2021. Also, the government across the countries primarily focuses on encouraging the manufacturing sector. The manufacturing sector For instance, as per one of the leading market research firms, the global market for manufacturing and process control is expected to reach USD 117.7 billion by 2025 with a CAGR of 6.3% for the period of 2020- 2025.

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Emerging consumer electronic industry coupled with the IoT in manufacturing are some of the key factors which are contributing to the growth of the market. As per GfK, the Covid-19 pandemic sparked a strong increase in sales in many sectors of the consumer electronics market in 2020. In the first half of 2021, the global consumer electronics market grew by +18%, registering $42.8 billion in revenue. Also, n the Consumer Electronics segment, the number of users is expected to amount to 2,905.4m users by 2025 and the user penetration will be 27.1% in 2021 and is expected to hit 37.2% by 2025.

Moreover, a rise in the number of international tourists also leads to the growing demand for ultra-high temperature milk from the hospitality sector. As per the World Bank, the number of international tourists reached 2.28 billion in 2019, up from 1.96 billion in 2015. The number of international departures more than doubled between 1997 and 2017, from 687 million to 1.57 billion per annum. Moreover, the number of hotel rooms globally had risen by 17.7% since 2008 to 17 million in 2018. These rooms were in more than 184,000 hotels, a rise of 8.4% from 2008 levels.
Also, the continuous advancement in design and techniques is leading to the growth of the market. Manufacturers are producing new designs in the market, which are inclined toward improving the forming capabilities of these presses and using high-strength materials. In the recent few years, many small-sized servo presses have found their applications in high technology-based sectors, such as aerospace and defense.For a detailed analysis of the Region in Digital Servo Press browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=18217

Based on the force range, the market is fragmented into Less than 100KN, 100KN-200KN, and More than 200KN. The more than 200KN segment grabbed XX% market share in 2020 and dominated the market. The growing application of more than 200KW force in the manufacturing of components in the automotive sector, aviation sector, etc., is leading to the growth of the market. However, the 100-200KN segment would witness a considerable CAGR in the forthcoming years.

Based on the application, the market is fragmented into Automotive, Aerospace, Electronics, and Others. The automotive segment captured XX% Market share in 2020. The market of this segment would reach USD XX Mn BY 2027. The growing adoption of EV coupled with the use of digital technologies in component manufacturing is leading to the growth of this segment. However, the electronic segment would witness a robust CAGR during the forthcoming years.

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Additionally, the report provides detailed initiatives that are being taken in the field of Digital Servo Press. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, and the Rest of APAC), Rest of World has been conducted. Asia Pacific region grabbed XX% market and captured USD XX Mn market share in 2020. In 2021, the automobiles & auto parts sector topped the Asia PMI sector output rankings in January. It registered the fastest rate of growth of all categories for the third time in the past six months. However, Europe would witness a robust CAGR during the forthcoming years.

Global Digital Servo Press Market Segmentation

Market Insight, by Force Range

• Less than 100KN
• 100KN-200KN
• More than 200KN

Market Insight, by Motor Type

• Continuous Rotation
• Linear Rotation
• Position Rotation

Market Insight, by Application

• Automotive
• Aerospace
• Electronics
• Others (Medical Equipment, Robotics)

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • France
  • Germany
  • Spain
  • Italy
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• ABB Ltd
• Badger Meter, Inc
• Emerson Electric Co
• Endress+Hauser AG
• General Electric Co
• Honeywell International Inc
• Krohne Messtechnik GmbH
• McCrometer, Inc
• Omega Engineering Inc
• Siemens AG