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Servo Press Market Expected to Reach $1,068.3 million by 2030-Allied Market Research

 

Report Code : A15478

quote the servo press market has witnessed significant growth in the past decade, owing to rise in industrialization in developing countries and rapid growth of automotive industry. In addition, increase in metal forming operations and growing investment in automotive sector has propel the market growth. Furthermore, technological advancement in digital servo press has created demand during the forecast period quote

Amar Chinchane
Lead Analyst, Construction and Manufacturing at Allied Market Research

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According to a new report published by Allied Market Research, titled, Servo Press market by type, capacity, and end user industry: global opportunity analysis and industry forecast, 2021–2030,” The global servo press market size was valued at 667.8 million in 2020, and is projected to reach $1,068.3 million by 2030, registering a CAGR of 4.8% from 2021 to 2030.

Crank and screw are two commonly used types of servo presses. Among these, the screw segment accounts for the largest market size by value in 2020, owing to increase in demand from automotive and electronics manufacturing industry. Like mechanical servo presses, this type of servo press is famous for its full speed and stronger force that can be delivered at any desired location. Extrusion applications that need fast motions at the end of the cycle or longer process strokes are better suited for the servo screw press machine. To enhance the manufacturing cycle, several firms are concentrating on developing innovative screw press machines that can vary the pressing speed and press loads. Promess Incorporated, for example, released FlexIQ for high mix assembly solutions in August 2021, which provides precise screw pressing and iterated servo drive, force, and position detection. Such considerations have a beneficial influence on the market for screw type servo presses.

In 2020, Asia-Pacific dominated the global servo press market, in terms of revenue, accounting for around 45.9% share of the global market, followed by North America and Europe. Moreover, the market in Asia-Pacific is growing with high CAGR, owing to urbanization and economic development in developing countries.

Moreover, increase in demand for efficient and precise metal forming machines and rapid growth of automotive industry drives the servo press market growth. In addition, increase in use of electrical and electronic products fueled by increasing per capita income in emerging economies propels demand for servo presses.

Furthermore, on the basis of end-user industry the automotive segment has dominated the servo press market in 2020, with a CAGR of 3.9% during the forecast period, owing to growth of automotive industry in emerging economies.

For instance, according to India Brand Equity Foundation, the Indian Government is anticipating local and foreign investments around $8-10 billion in the automotive sector by 2023. And the Indian automotive industry is expected to reach US$ 251.4-282.8 billion by 2026.

However, during the pandemic lockdown, various manufacturers in the Servo press had to stop their business countries such as China, the U.S., and India. This break directly impacted sales of servo press companies. In addition, lack of manpower and raw materials also constricted supply of equipment of servo presses has negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of servo press companies.

The key players profiled in the Servo press industry report include Amino Corporation, Hitachi Zosen Fukui Corporation, ISGEC Heavy Engineering Ltd., Japan Automatic Machine Co., Ltd., Komatsu Ltd., Nidec-Shimpo Corporation, Promess Incorporated, Schuler AG., SIMPAC Corp. and Tox Pressotechnik GmbH & Co. KG

Key Findings Of The Study

  • The report provides an extensive analysis of the current and emerging servo press market trends and dynamics. 
  • Depending on type, the screw segment dominated the servo press market share, in terms of revenue in 2020 and is projected to grow at a significant CAGR during the forecast period.
  • By capacity, the above 500T segment has registered highest revenue in 2020.
  • Asia-Pacific is projected to register highest growth rate in the coming years.
  • Depending on end user industry, the automotive segment dominated the market, in terms of revenue in 2020, and electrical & electronics segment is projected to grow at a significant CAGR during the forecast period.
  • The key players within the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the servo press industry.
  • The report provides an extensive analysis of the current trends and emerging opportunities of the market. 
  • In-depth servo press market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.

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quote Servo Press Market by Type (Crank and Screw), Capacity (Below 200T, 201T – 500T and Above 500T) and End-user industry (Automotive, Aerospace, Electrical & Electronics, and Other): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

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