Resolvers Market Is Anticipated to Witness High Growth Owing to Increasing Demand for Precision in Motion Control Applications

 

Resolvers Market Size 

The resolvers market has been witnessing steady growth over the past few years owing to increasing applications across various industries including industrial manufacturing, aviation, and oil & gas. Resolvers are electromechanical transducers that are used to measure angular position or velocity of the rotors. They offer high accuracy, long operational life, and minimal wear and tear. Some of the key advantages ofresolvers include high resolution, ability to read absolute angle feedback, and reliability even in harsh industrial environments.

The growing need for precision in motion control applications across industries such as manufacturing, aerospace, defense, energy & power, and automotive is a key factor driving the demand for resolvers. In industrial manufacturing, resolvers are used for process automation, CNC machine tools, robotics, conveyor systems, and programmable logic controllers. In the aviation industry, they are deployed in avionics, flight controls, landing gear, and engine accessories. Resolvers also find wide usage in oil & gas industry for exploration, drilling, and refining processes.

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 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. and Honeywell International Inc. dominate the market with over 35% market share collectively.

The resolvers Resolvers Market Size is expected to witness lucrative growth opportunities owing increasing automation and robotics integration across various industries. Precision motion control systems require high accuracy feedback devices like resolvers for proper functioning of automated assembly lines, robotic arms, and industrial machines.

Key players are expanding their global footprint by strengthening distribution networks across nations like China, Germany, India, Japan and Mexico which offer strong growth potential. Manufacturers are also focusing on development of compact and high-precision resolver models for integration into miniature automation systems and drones.

Market Drivers

Rising Resolvers Market Size and Trends for accurate motion control systems from automotive, aerospace and factory automation industries: Resolvers are core components in precision motion control systems driving automated equipment across industries.

Technological advancements enabling development of compact resolver models with higher accuracy and efficiency: Miniaturization of resolver technology allows easier integration into complex automated equipment and robotics.

Market Restraints

Availability of alternatives like encoders offering comparable performance at competitive costs: Encoders provide strong competition owing to technological superiority and pricing advantage over resolvers.

Associated maintenance costs of resolvers over long term operations: Periodic servicing and repairs add to the total cost of ownership of resolvers compared to solid-state encoders.

Segment Analysis

The resolvers market is dominated by industrial sub segment. Industrial resolvers are widely used in various industrial machineries and robots for accurate position sensing applications. They offer high rotor stability, linearity and accuracy even in harsh industrial environment conditions which has increased their demand from industries.

Global Analysis

North America region dominates the global resolvers market with largest market share. Presence of major manufacturers of industrial equipment and machineries in US and Canada is driving the demand for highly precise and rugged resolvers from industrial segment in the region. Asia Pacific region is expected to be the fastest growing market during forecast period. Increasing investments in industrial automation and adoption of robotics across manufacturing sectors in developing countries like China and India is fueling the growth of resolvers market in Asia Pacific region.

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About Author:

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, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)