Resolvers Market

Global Resolvers Market Is Estimated To Witness High Growth Owing To Increasing Industrial Automation and Rising Demand for High-Precision Position Sensors

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The 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Resolvers are rotary electrical devices used for precise angle and position sensing in various applications, including robotics, aerospace, and industrial automation. These devices are known for their robustness, durability, and ability to provide accurate position feedback even in harsh environments. With increasing industrial automation and the demand for high-precision position sensors, the market for resolvers is expected to witness significant growth. The versatility of resolvers makes them suitable for a wide range of applications, including motor control systems, machine tool positioning, and missile systems.

Market Dynamics:
The Resolvers Market is primarily driven by two key factors. Firstly, the increasing adoption of industrial automation across various industries is driving the demand for precision position sensors, including resolvers. Resolvers offer reliable and accurate position feedback, which is crucial for precise control and automation of manufacturing processes. Additionally, the rising demand for high-precision motion control systems in sectors such as robotics, aerospace, and defense is further contributing to the market growth. Resolvers provide superior performance in terms of resolution and accuracy, making them ideal for demanding applications. These factors are expected to fuel the growth of the resolvers market over the forecast period.

SWOT Analysis:

Strength:
The Resolvers Market Size is expected to witness high growth with a projected CAGR of 8% over the forecast period. This growth is driven by factors such as the increasing demand for resolvers in various industries, including aerospace and defense, automotive, and industrial automation.

Weakness:
One weakness in the resolvers market is the growing competition from alternative technologies such as optical encoders, which offer higher accuracy and reliability. Another weakness is the high cost associated with resolvers compared to other position sensing technologies.

Opportunity:
There are two key opportunities in the resolvers market. Firstly, the increasing adoption of resolvers in robotics and industrial automation applications presents a significant opportunity for market growth. Secondly, the growing demand for high-performance motion control systems in sectors such as aerospace and defense provides an opportunity for the expansion of the resolvers market.

Threats:
There are two primary threats to the resolvers market. One threat is the volatility of raw material prices, which can impact the cost of manufacturing resolvers. Another threat is the emergence of disruptive technologies that offer improved performance and cost-effectiveness compared to traditional resolvers.

Key Takeaways:

The global resolvers market is expected to witness high growth, exhibiting a CAGR of 8% over the forecast period. This growth is driven by increasing demand in various industries such as aerospace, automotive, and industrial automation. The market is dominated by the North America region, which is the fastest-growing and dominating region due to the presence of key players and the high adoption of resolvers in the aerospace and defense sector.

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 play a crucial role in the market by offering a wide range of resolver solutions and constantly innovating to meet the evolving customer needs.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Ravina
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Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.