by Resolvers are electromechanical transducers that are designed to transform mechanical angular displacement information into an electrical signal. They are able to indicate shaft angular position or velocity in closed-loop feedback systems which find extensive use in industrial and aerospace applications. The growing demand for precision motion control has augmented the use of resolvers in servo control systems, machine tools, industrial robots, CNC machine tools, and more.
The Global resolvers market is estimated to be valued at US$ 1117.44 Mn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 To 2031.
Key Takeaways
Key players: Key players operating in the resolvers market include Moog Inc., Honeywell International Inc., AMETEK Inc., TE Connectivity, Woodward Inc., General Dynamics Corporation, Parker Hannifin Corp, Sensata Technologies, Tamagawa Seiki Co., Ltd., LTN Servotechnik GmbH, and Maxon Group.
Key opportunities: Opportunities in the Resolvers Market Size include growing adoption of resolvers in industrial automation solutions and increasing integration of resolvers in various core industries such as oil & gas, energy & power, automotive, and aerospace & defense.
Global expansion: Major players in the resolvers market are focusing on expanding their global footprint by entering into strategic partnerships and agreements with regional players. This is expected to drive the adoption of advanced resolvers across countries.
Market drivers
The major driver for the growth of Resolvers Market Size and Trends is increasing demand for precision motion control applications. Resolvers are increasingly being used for position sensing solutions in servo motors and industrial robots due to their high accuracy and reliability. They offer enhanced precision and repeatability compared to traditional feedback devices. Moreover, the growing adoption of industrial automation in sectors such as automotive, semiconductor, food processing is propelling the use of resolvers. This is anticipated to fuel the demand for resolvers during the forecast period.
Analysis
Political: Resolvers manufactures heavily rely on imports of raw materials and supply chain partners, so any trade barriers or policy changes can significantly impact costs.
Economic: A growing global economy and demand for industrial automation boosts the prospects for resolvers in various end-use industries like automotive, aerospace, and factory machinery. However, an economic slowdown can negatively impact the market.
Social: Technologies enabled by precision motion controls help enhance productivity and safety. As regulations around industry safety become more stringent, demand for accurate resolver feedback increases.
Technological: Advancements in materials, magnetic sensors, and integrated circuitry allow resolvers to offer higher resolution, robust designs, and connectivity features for advanced IoT-based applications. Miniaturization enables Resolvers Market to be embedded directly inside motors or mechanisms.
North American Region
The North American region, led by the United States, holds a major share of the global resolver market in terms of value owing to extensive adoption across industries like automotive, aerospace, robotics etc. Wide presence of resolver manufacturers as well as end-use industries contributes to its large size.
Asian Region
The Asian region, led by countries like China and Japan, is expected to witness the fastest growth in the resolver market during the forecast period. This can be attributed to expanding manufacturing activity, low-cost manufacturing environment supported by excellent resolver component infrastructure and rapid technological advances across industries.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
