Global Resolvers Market Size
Resolvers are electromechanical
transducers that are used for sensing angular position which finds widespread
adoption in industrial automation applications such as motor drives, robotics,
automatic assembly lines, industrial process automation among others. Resolvers
offer advantages such as high accuracy, robust design and stability over
temperature extremes making them suitable for harsh industrial environments.
The rising adoption of industrial automation along with the need for precise
angular position sensing capabilities is fueling the demand for resolvers.
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, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
One of the key trends fueling the growth of the resolvers market is increasing
adoption of industrial automation. Over the past few years, there has been
significant rise in adoption of industrial automation technologies across
various manufacturing sectors in order to gain productivity benefits. Resolvers
find widespread usage for angular position sensing in industrial robotics,
motor drives, assembly lines and various other industrial automation
applications. Growing industrial automation is creating consistent demand for
resolvers, thereby propelling the market growth. Precision and accuracy
requirements of modern automated systems coupled with resolvers' proven
reliability under harsh conditions is further augmenting their adoption in
industrial automation.
Segment Analysis
The global resolvers market is dominated by the absolute encoder sub segment
owing to its higher accuracy and ability to provide absolute position data
without the need for homing or battery backup. Absolute encoders eliminate the
need for external power source or position setting and can instantly display
position information upon power up, which has increased their demand across
industries for applications that require continuous, error-free position
feedback.
Key Takeaways
Global
Resolvers Market Size is expected to witness high growth over the
forecast period of 2024 to 2031 driven by increasing demand from industries
such as aerospace, defense, industrial automation and robotics. 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.
Regional analysis
North America is currently the largest and fastest growing market for resolvers
owing to strong presence of key players and continued investments in defense
programs and industrial automation in the US. The Asia Pacific region is also
emerging as a major market and is expected to witness highest growth during the
forecast period supported by growing industrial manufacturing and adoption of
robotics in industries such as automotive, electronics and semiconductors in
countries such as China, Japan and India.
Key players
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. Moog Inc., Honeywell and AMETEK dominate
the aerospace and defense resolvers market whereas, TE Connectivity and
Tamagawa Seiki lead the industrial automation resolvers segment.
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