Resolvers are electromechanical transducers that are used for sensing angular position which finds widespread adoption in industrial automation applications such as motor drives, robotics, automatic assembly lines, industrial process automation among others. Resolvers offer advantages such as high accuracy, robust design and stability over temperature extremes making them suitable for harsh industrial environments. The rising adoption of industrial automation along with the need for precise angular position sensing capabilities is fueling the demand for resolvers.
Market key trends:
One of the key trends fueling the growth of the resolvers market is increasing adoption of industrial automation. Over the past few years, there has been significant rise in adoption of industrial automation technologies across various manufacturing sectors in order to gain productivity benefits. Resolvers find widespread usage for angular position sensing in industrial robotics, motor drives, assembly lines and various other industrial automation applications. Growing industrial automation is creating consistent demand for resolvers, thereby propelling the market growth. Precision and accuracy requirements of modern automated systems coupled with resolvers' proven reliability under harsh conditions is further augmenting their adoption in industrial automation.
Segment Analysis
The global resolvers market is dominated by the absolute encoder sub segment owing to its higher accuracy and ability to provide absolute position data without the need for homing or battery backup. Absolute encoders eliminate the need for external power source or position setting and can instantly display position information upon power up, which has increased their demand across industries for applications that require continuous, error-free position feedback.
Key Takeaways
Global Resolvers Market Size is expected to witness high growth over the forecast period of 2024 to 2031 driven by increasing demand from industries such as aerospace, defense, industrial automation and robotics. 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.
Regional analysis
North America is currently the largest and fastest growing market for resolvers owing to strong presence of key players and continued investments in defense programs and industrial automation in the US. The Asia Pacific region is also emerging as a major market and is expected to witness highest growth during the forecast period supported by growing industrial manufacturing and adoption of robotics in industries such as automotive, electronics and semiconductors in countries such as China, Japan and India.
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, Maxon Group, Bevone, Danaher Corporation, Kollmorgen, TE Connectivity, ALXION, Micronor, Elmo Motion Control, Electro-Sensors, Siko GmbH. Moog Inc., Honeywell and AMETEK dominate the aerospace and defense resolvers market whereas, TE Connectivity and Tamagawa Seiki lead the industrial automation resolvers segment.
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