by The resolvers market comprises electromechanical transducers that are used to determine angular position or velocity of motors or other rotating components. Resolvers offer high resolution, accuracy and immunity to electronic interference. They are utilized across various end-use industries including aerospace & defense, industrial, avionics, energy and mining to provide precise position feedback in devices and equipment.
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. The growing demand for improved accuracy and reliability in industrial machineries and military systems is a key factor driving the global resolvers market. Many regions across the globe are also witnessing increased investments in infrastructural developments and automation, thereby augmenting the adoption of resolvers.
Key players operating in the Resolvers Market Size are focusing on capacity expansion plans and new product launches to cater to the rising demand from industries. Moog Inc, for instance, offers resolvers for various industrial, aerospace and military applications. Honeywell’s resolver product catalog provides sensors of multiple types and sizes for position sensing.
The demand for resolvers is witnessing strong growth across developing regions of Asia Pacific and Middle East & Africa attributable to rapid industrialization and infrastructure development activities. The international players are also targeting these emerging economies to leverage lucrative opportunities.
Market Key Trends
One of the Resolvers Market Size and Trends witnessed in the resolvers market is the increased incorporation of non-contact sensing technology. Most modernresolvers integrate Hall effect sensors ormagnetostrictive effects for contactless detection of rotating targets. This enhances reliabilitywith no mechanical wear.Additionally, resolvers with IP67/IP68 protection and resistance to shock, vibration etc. are gaining traction with their ability to withstand harsh industrial environments. Overall, technological advancements centered around improving accuracy, ruggedness and lifecycle of resolvers will continue shaping the market trends over the forecast period.
Porter’s Analysis
Threat of new entrants: Low barrier to entry but established players have economies of scale and brand loyalty advantage.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute products but differentiated product offerings Resolvers Market impact.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute components and differentiated intellectual property of resolvers.
Threat of new substitutes: Threat is moderate as other sensor technologies can be used for position measurement but resolvers have precision and durability advantages for aerospace and industrial applications.
Competitive rivalry: High as Resolvers Market Size and Trends is consolidated with top players competing on product performance.
Geographical Regions
North America is currently the largest geographical market holding more than 35% of global market share majorly driven by aerospace, oil & gas and industrial robotics sectors in US and Canada.
Asia Pacific region excl. Japan is witnessing the fastest growth at a CAGR of over 8% during the forecast period. Increasing investments in industrial automation by China, India along with recovery in aircraft production by Japan and South Korea is boosting the regional demand.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author - Money Singh
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, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
