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Precision Motion Control Drives the Resolvers Market

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Purvaja
Precision Motion Control Drives the Resolvers Market

The resolver is an electromechanical device that senses angular position and speed. It is used in aircraft systems, industrial controls, robotics, and motion control systems to provide feedback signals for control loops. Resolvers offer high accuracy, reliability, and durability even in harsh operating environments. Used in feedback control loops to provide exact position and velocity information, resolvers enable precision motion control across various applications. The embedded digital resolver technology further improves system performance with features like programmable linearity and self-testing capabilities.

The global Resolvers Market is estimated to be valued at US$ 970 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the resolvers market is the growing adoption of smart products and industrial automation. Resolvers find widespread application in motion control systems used in automated machinery across industries like automotive, semiconductor, food processing, and packaging. The continual demand for enhanced productivity and quality is fueling investments in advanced automated systems incorporated with high-accuracy motion control components like resolvers. Furthermore, the emerging technologies in robotics and Industry 4.0 are also supporting the adoption of resolvers. With increased automation in factories through collaborative robots and adoption of digital technologies like IoT, resolvers market is expected to witness lucrative growth opportunities over the forecast period.

Porter's Analysis

Threat of new entrants: The resolvers market has moderate entry barriers due to the presence of established brands and technical expertise required.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and differentiated needs of end-users.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power as there are many raw material suppliers and components are not very specialized.

Threat of new substitutes: The threat is moderate as some substitutes offer better precision and accuracy than traditional resolvers.

Competitive rivalry: The market has high competition between key established players offering innovative resolver solutions.

Key Takeaways

The Global Resolvers Market Demand is expected to witness high growth over the forecast period. Regionally, North America holds the largest share due to the presence of key players and high adoption across industries such as manufacturing and oil & gas exploration. Europe is also a major market owing to the developed economy and demand from the automotive industry.

Regional analysis- Asia Pacific is expected to grow at the fastest pace during the forecast period driven by increasing industrialization and thriving automotive and manufacturing sectors in major economies like China and India. Countries like Japan, South Korea are also rapidly adopting resolver feedback systems.

Key players operating in the resolvers market are 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, Maxon Group, Bevone, Danaher Corporation, Kollmorgen, TE Connectivity, ALXION, Micronor, Elmo Motion Control, Electro-Sensors, Siko GmbH. Major players are focusing on developing innovative resolver technologies with higher accuracy and precision for applications across industries.

For more details on the report, Read- https://www.pressreleasebulletin.com/resolvers-market-growth-demand-and-overview/


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