Servo press machine is used to make sheet metals with low formability. Digital servo press machines have features similar to a high-end actuator. These machines also include signal amplifiers, a controller, and active motor cooling along with software to deliver true closed-loop control of both position and force. Depending on model, the drive of the press and mechanism varies. These presses can be driven through a gearbox or directly by the servomotor. A digital servo press features the same elements as the high-end actuator, but also includes active motor cooling, signal amplifiers, and a controller with dedicated software to provide true closed-loop control of both force and position. The press’s mechanism and drive vary depending on the model. Mechanism types include ballscrew, planetary roller screw (for higher forces), and rack-and-pinion. The presses can be driven directly by the servomotor or through a gearbox. In the coming years, Japan and Europe are expected to witness increase in technology breakthrough for digital servo press, thereby escalating the demand for more advanced digital servo press. Increase in automotive and electronics expenditures, more-intense competition, launches in introducing new products, increase in spending on the general industry, retrofitting & renovation of old technology, and increase in adoption of digital servo press in developing countries are expected to drive the market growth.
COVID-19 scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the digital servo press market, owing to the prolonged lockdown in major countries. This has hampered the growth of the digital servo press market significantly from last few months, and is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth during the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which are badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The digital servo press market is used in the manufacturing sector for moving operational efficiency and has high product demand, thereby aiding the growth of the market.
Importance in the manufacturing sector
The digital servo press market is forecast to grow at a tremendous rate, owing to its inherent feature of carrying out job with efficacy along with flexible speed and design lucidity. Nevertheless, Experts are needed to improve operational efficiency and increase output during machine method. Additionally, massive initial investments are necessary to deploy the entire manufacturing method with the equipment. This, in turn, is likely to prove a threat to the device producers. Additionally, there are many obstacles in the presses production for offering best manufacturing programs and help end-users with profitable output to generate a winning situation. However, it is predicted that price reduction as a result of evolution of cost-based competition coupled with technological breakthroughs across digital servo press equipment will increase the product demand. However, the digital servo press market expansion can be severely impacted due to the high initial cost and need for experts in the manufacturing process. The demand-supply side of the market depends on the various aspects associated with the thriving automobile sector and large-scale adoption of the product in the aviation sector.
Increase in demand for digital servo press machines in various industries
Continuously increase in expenditure in the automobile and electronics industries, new product launches, and rise in adoption of digital servo press machines globally are the major factors expected to drive the growth of the market. Other factors expected to propel the market growth are renovation & retrofitting of older technology and rise in expenditure on the overall industrial sector. In addition, increase in demand for digital servo press machines in the aerospace industry and increase in implementation of digital servo press machines for the manufactures of aircraft components are expected to boost the global digital servo press market. Some of the major factors that could restrain the market growth include high initial prices of digital servo press machines and lack of trained professionals for the manufacturing process. Moreover, increase in number of R&D activities related to digital servo press machines is projected to create revenue growth opportunities for major players operating in the market.
Key benefits of the report:
- This study presents the analytical depiction of the digital servo press market along with the current trends and future estimations to determine the future of the market
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the digital servo press market share.
- The current market is quantitatively analyzed to highlight the digital servo press market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Digital Servo Press Market Report Highlights
By Motor Type
Key Market Players
Endress+Hauser AG, McCrometer, Inc., Omega Engineering Inc., Krohne Messtechnik GmbH, Toshiba Corporation, Siemens AG, Badger Meter, Inc., Yokogawa Electric Corp, ABB Ltd., General Electric Co., Emerson Electric Co., Honeywell International Inc.