The global resolvers market provides precise angular position feedback for a wide range of applications in aircraft, industrial automation, and robotics. Resolvers find usage in the aerospace industry for rotary control motion and position feedback in primary and secondary flight control systems. They help measure the rotary motion of flaps, rudders, elevators, ailerons and other aircraft components. The resolvers sensor determines angular shaft position through a non-contact design without wearing mechanical parts, providing high reliability even in harsh conditions.
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 major trends gaining traction in the resolvers market is the growing adoption of industrial automation. Resolvers play a vital role in factory automation by providing precise angular sensing capabilities. They are widely utilized in robotics, conveyor systems, CNC machines and other automated equipment to enable motion control and feedback. With the global surge in automation across industries such as automotive, semiconductor, food processing and more, the demand for resolvers is experiencing strong growth. Manufacturers are also developing innovative resolver sensor designs with advanced features such as high resolutions, compact sizes and bidirectional sensing to better suit the evolving needs of industrial automation applications. This rising automation adoption will continue promoting the expansion of the resolvers market in the coming years.
Porter’s Analysis
Threat of new entrants: Low barriers to entry may threaten existing players as the technology required is commonly available. However, established brands and need for significant investment limits new competition.
Bargaining power of buyers: Large buyers can negotiate lower prices due to their high purchase volumes. However, need for customizations and specialized features increases switching costs.
Bargaining power of suppliers: Presence of multiple component manufacturers limits influence of individual suppliers. However, high development and manufacturing costs increases suppliers’ bargaining power.
Threat of new substitutes: Emerging sensor technologies can replace resolvers in specific applications. However, resolvers versatility and wide industrial usage limits impact of substitutes.
Competitive rivalry: Market populated with global and regional players. Players differentiate using product performance, pricing and expanded product portfolios.
Key Takeaways
The Global Resolvers Market Size is expected to witness high growth. 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.
The North America region currently dominates the market owing to strong industrial manufacturing sector and early technology adoption. Modernization of industries and rising investments in factory automation are driving demand. The Asia Pacific region is expected to be the fastest growing market for resolvers during the forecast period. This can be attributed to rapid industrialization, government initiatives for smart manufacturing, and expansion of manufacturing hubs in China, India, Japan and other developing countries in the region.
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. Key players are focusing on new product launches catering to precision and speed requirements of machines. Players are also expanding in developing markets to leverage growth opportunities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it