by Market Overview:
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 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Resolvers are motion sensors that provide accurate feedback on angular position and velocity. They are extensively used in various industries, including aerospace, automotive, and industrial automation, due to their high reliability and durability. Resolvers offer advantages such as resistance to electromagnetic interference, high shock and vibration resistance, and wide temperature operating range. The growing need for precise angular position sensing in critical applications is driving the demand for resolvers in the market.
Market Key Trends:
One of the key trends in the resolvers market is the increasing adoption of resolvers in the automotive industry for advanced driver assistance systems (ADAS) and autonomous vehicles. Resolvers provide accurate position and velocity feedback to ADAS systems, enabling features like lane departure warning, adaptive cruise control, and automatic emergency braking. The growing demand for safer and more efficient vehicles is fueling the adoption of ADAS, thereby driving the demand for resolvers in the automotive sector.
The Resolvers Market Size is highly competitive, with key players such as 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 players are focusing on strategic collaborations, product innovations, and expansion of
Segment Analysis:
The resolvers market can be segmented based on type, application, and end-user. By type, the market can be categorized into absolute resolvers and incremental resolvers. Incremental resolvers are expected to dominate the market during the forecast period. This can be attributed to their widespread usage in various applications such as robotics, motor control, and automation systems. Incremental resolvers provide accurate angular position feedback and are known for their reliability, durability, and high resolution capabilities. These factors have increased their demand in industries such as aerospace, automotive, and manufacturing.
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 several factors. Firstly, the increasing adoption of automation and robotics in various industries is driving the demand for resolvers. These devices are crucial for providing accurate positional feedback, which is essential for the proper functioning of automated systems. Secondly, the growing automotive industry is also contributing to the market growth. Resolvers are extensively used in automotive applications such as steering systems, throttle control, and motor control, among others. The increasing production and sales of automobiles worldwide are fueling the demand for resolvers.
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 major key players in the region, coupled with the growing demand for automation and robotics in industries such as aerospace, defense, and automotive. Additionally, the increasing investments in research and development activities for the advancement of resolvers technology are further propelling the market growth in this 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 are focusing on product innovations, collaborations, mergers and acquisitions, and expanding their product portfolios to gain a competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
