The global digital servo press market is expected to reach USD 1.48 billion in 2030 with a growth rate of 5.43% during the forecast period, 2022-2030. It was valued at USD 1.01 billion in 2022.
As the automobile industry recognizes the benefits of this new technology, it is one of the key drivers of increased demand for servo presses. End-users have been forced to shift to servo presses by the evolution of high-strength steels and advanced materials and the necessity of producing parts that meet shape and tolerance requirements in the automotive and other industries, which are major factors driving the digital servo press market. Furthermore, rising expenditures in the automotive and electronics industries, fierce competition, the introduction of new products, increased spending in the general industry, the revamping of old technology, and the growing adoption of digital servo presses in developing countries are expected to propel the overall market forward.
The components of a digital servo press are the same as those of a high-end actuator. However, it does have a controller, signal amplifiers, active motor cooling, and dedicated software for open closed-loop position and force control. Depending on the model, the press’s drive and mechanism differ. Rack-and-pinion, planetary roller screw (for higher forces), and ball screw are mechanisms. A gearbox or a servomotor can be used to drive the presses directly. The servo press’s digital control enables the main slide to operate in harmony with various devices such as hydraulic, air, and servomotor-controlled cushions.
Due to increasing technological changes and changing consumer demand and preferences, the automobile sector is predicted to develop dramatically globally over the projection period. This increase is attributed to increased automobile manufacturing, as manufacturers are always creating more fuel-efficient engines and drivetrains and applying emission-control technology to generate cleaner vehicles. As a result, the rising automotive industry is expected to boost the market for digital servo-press over the forecast period. Furthermore, with the expanding aerospace industry, digital servo presses in aircraft manufacturing to improve productivity and precision are expected to support market growth for digital servo presses over the forecast period.
The automotive industry is anticipated to alter due to the strict rules to minimize CO2 emissions. Consumers are becoming increasingly aware of the environmental impact of automotive emissions. As a result, electric vehicles are given more consideration than conventional automobiles. Government incentives, such as tax breaks, to encourage the adoption of electric vehicles have been seriously studied. Furthermore, the growth of the automotive and electronics industries is a major driver of the digital servo press industry. The demand for digital servo press active motors is growing because of their features such as cooling, signal amplifiers, and a controller with dedicated software to enable real closed-loop control of both force and position. Other market-driving drivers include rising spending on general industry, retrofitting and renovating obsolete technology, and the expanding acceptance of digital servo presses in developing nations.
High starting costs and the need for qualified specialists in the manufacturing process are limiting the growth of the digital servo press industry. Due to its flexibility in speed, controllability, and simplicity in design, the digital servo press is gaining momentum in the market to complete jobs with efficiency and accuracy. However, skilled humans are essential for their operations to maintain productivity in the machining process. Furthermore, the high initial investment required to set up the complete production process with a servo press in the manufacturing process is a barrier for servo press manufacturers and their global market growth.
Following the pandemic, increased demand for digital servo press machines in the aerospace industry and increased deployment of digital servo press machines to fabricate aircraft components are likely to fuel the worldwide digital servo press market’s growth. Furthermore, as the average person’s spending power has increased, so has the demand for technological devices. The use of servo presses in industrial facilities is increasing due to this growth in demand.
Due to the protracted lockdown in key countries, the COVID-19 pandemic has forced the shutdown of several items in the digital servo press industry. This has slowed the growth of the digital servo press industry in recent months, and it is expected to continue in 2020. COVID-19 impacted equipment and machinery sales in the first quarter of 2020, and it is expected to have a negative influence on market growth throughout the year. Furthermore, the lockdown’s potential impact is unknown, and organizations’ financial recovery depends entirely on their cash reserves. Companies that manufacture equipment and machinery can afford a full lockdown for only a few months, after which the players will have to change their investment plans.
Following the epidemic, to respond to urgent challenges and establish new working methods after COVID-19, equipment and machinery manufacturers must focus on protecting their employees, operations, and supply networks. Supply contracts and new product innovations lead the digital servo press market. However, due to the gradual return of manufacturing and increased automation in the next years, the digital servo press market is likely to increase in the coming years.
Based on Motor Type, the global Digital Servo Press market is classified into Positional Rotation, Continuous Rotation, and Linear. Linear is expected to hold the largest share in the global Digital Servo Press market during the forecast period by 2030. A linear motor is an electric motor with its stator and rotor “unrolled,” resulting in a linear force along its length rather than torque (rotation). Linear motors, on the other hand, are not always straight. The ongoing section of a linear motor has ended, whereas the active section of more traditional motors is structured as a continuous loop. Over the projected period, the widespread deployment of linear motor type digital servo presses in various end-use sectors is likely to fuel market expansion.
Figure: Global Digital Servo Press Market, by Motor Type, Market Share, 2021
Based on Type, the global Digital Servo Press market is segregated into Less than 100KN, 100KN – 200KN, and more than 200KN. The more than 200KN segment accounts for the largest share in the global Digital Servo Press market over 2022-2030. In the automotive sector, the more than 200KN servo press machine manufactures several components, including the body in white (BIW) and chassis.
Based on the regional segmental analysis, the Digital Servo Press market is characterized by North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific accounts for a significant share in the global Digital Servo Press market over 2022-2030. This can be ascribed to rising production in the global industrial sector and continued technological advancements in digital servo presses, particularly in India, China, and Japan. The Asia Pacific market is likely to be followed by the European market, owing to strong consumer demand for electric and hybrid vehicles. The EU Council’s strict standards are driving this demand.
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, Toshiba Corporation, Yokogawa Electric Corp, Other prominent players.
Key Stakeholders
Report Attribute | Details |
---|---|
Revenue in 2021 | USD 976.05 million |
The revenue forecast in 2028 | USD 1409.83 |
CAGR | 5.43% |
Historical data | 2017 – 2020 |
Base Year | 2021 |
Forecast period | 2022 – 2028 |
Region covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
Key companies Profiled | 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, Toshiba Corporation, Yokogawa Electric Corp, Other prominent players. |
By Motor Type
By Type
By Application
By Region
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The components of a digital servo press are the same as those of a high-end actuator. However, it does have a controller, signal amplifiers, active motor cooling, and dedicated software for open closed-loop position and force control. Depending on the model, the press’s drive and mechanism differ.
The global digital servo press market is expected to reach USD 1.48 billion in 2030 with a growth rate of 5.43% during the forecast period, 2022-2030. It was valued at USD 1.01 billion in 2022.
As the automobile industry recognizes the benefits of this new technology, it is one of the key drivers of increased demand for servo presses. End-users have been forced to shift to servo presses by the evolution of high-strength steels and advanced materials and the necessity of producing parts that meet shape and tolerance requirements in the automotive and other industries, which are major factors driving the digital servo press market.
High initial costs and the requirement for skilled professionals in the forecasted Years are predicted to create an obstacle to the growth of the global market over the forecasted period by 2030.
The Asia Pacific region is expected to gain a significant share in Digital Servo Press Market and continue this growth rate.
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, Toshiba Corporation, Yokogawa Electric Corp, Other prominent players.
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