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| Resolvers Market Size |
The global Resolvers Market is estimated to be valued at US$ 970 million in 2023 and is expected to exhibit a CAGR of 8% over the forecast period
from 2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Resolvers are electromechanical devices that are used for accurate position and
motion sensing in various industries. They offer advantages such as high
reliability, durability, and resistance to harsh environmental conditions. The
need for precise motion sensing and control in applications such as robotics,
aerospace, and industrial automation is driving the demand for resolvers.
Resolvers provide accurate position feedback, enabling efficient control of
machinery and ensuring smooth operations.
Market Key Trends:
One key trend in the resolvers market is the increasing adoption of digital
resolvers. Digital resolvers are gaining popularity due to their higher
accuracy, improved resolution, and compatibility with digital control systems.
These resolvers offer faster response times and better signal processing
capabilities, thereby enhancing the overall performance of the systems they are
integrated into. Additionally, digital resolvers eliminate the need for
analog-to-digital converters, reducing system complexity and cost. The growing
demand for advanced position and motion sensing solutions is expected to drive
the adoption of digital resolvers in various industries, further fueling market
growth.
Porter’s Analysis:
The Resolvers
Market Size is expected to
witness significant growth over the forecast period, with a compound annual
growth rate (CAGR) of 8%. This growth can be attributed to several factors,
including increasing demand for high precision motion control systems and
rising automation across various industries.
Threat of new entrants: The threat of new entrants in the resolvers market is
relatively low. This can be attributed to the high barriers to entry, such as
the need for specialized knowledge and technical expertise, as well as the high
capital investments required to establish manufacturing capabilities.
Bargaining power of buyers: The bargaining power of buyers in the resolvers
market is moderate. While buyers have the ability to choose from a range of
suppliers, the unique specifications and performance requirements of resolvers
limit their bargaining power to some extent.
Bargaining power of suppliers: The bargaining power of suppliers in the
resolvers market is relatively high. This can be attributed to the limited
number of suppliers offering high-quality resolvers, as well as the specialized
nature of their products. Suppliers can exert their power by charging higher
prices or imposing stricter terms and conditions.
Threat of new substitutes: The threat of new substitutes in the resolvers market
is low. Resolvers are widely used in various applications that require high
accuracy and reliability, and there are limited alternatives available that can
match the performance of resolvers.
Competitive rivalry: The competitive rivalry in the resolvers market is
moderate. While there are several key players operating in the market, each
with their own unique offerings and customer base, competition is primarily
based on factors such as product quality, performance, and price.
Key Takeaways:
The global resolvers market is expected to witness high growth, exhibiting a CAGR of 8% over the forecast period.
This growth can be attributed to the increasing demand for high precision
motion control systems across various industries, including automotive, aerospace,
and industrial automation.
In terms of regional analysis, North America is expected to be the
fastest-growing and dominating region in the resolvers market. This can be
attributed to the presence of key market players, technological advancements,
and increasing investments in automation and robotics in the region.
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, Maxon Group, Bevone, Danaher
Corporation, Kollmorgen, ALXION, Micronor, Elmo Motion Control,
Electro-Sensors, and Siko GmbH.
These key players contribute significantly to the overall growth and
development of the resolvers market through product innovation, strategic
partnerships, and expansion strategies. Their strong market presence and
extensive product portfolios give them a competitive edge in the industry.
Read More: https://www.ukwebwire.com/resolvers-market-analysis/