The Global Resolvers Market is Driven by Increasing Demand for Industrial Automation
The resolvers market consists of electromechanical transducers which converts angular displacement information into electrical signals. Resolvers are mainly used in industrial automation applications for sensing angular position of motor shafts. They provide high accuracy and repeatability in feedback control systems. Resolvers offer rugged construction, long operating life and resistance to shock, vibration and environmental contamination which makes them suitable for use in harsh industrial environments. The growing industrial automation across industries such as oil & gas, mining, automotive, aerospace and others is driving the demand for resolvers.
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 Resolvers Market Size for precision motion control and feedback systems from industrial automation is fueling the growth of the resolvers market. Increasing adoption of industrial robotics and industrial internet of things solutions across various industries is further driving market growth.
The market is witnessing strong growth in Asia Pacific region due to rapid industrialization and increasing investments in manufacturing sector from countries like China, India, Japan and South Korea. Major players are focusing on expanding their operations in developing economies to leverage growth opportunities.
Market Drivers
The increasing demand for industrial automation solutions from industries like oil & gas, automotive, aerospace, mining, energy and others is a key driver for the resolvers market. Resolvers find huge application for angular position sensing in industrial robots, machines, servo motors and other automated industrial equipment. They provide highly accurate and maintenance-free feedback signal required for motion control applications. The growing adoption of industrial internet of things and industry 4.0 technologies is further pushing the demand for resolvers in industrial automation sector.
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