At 6.3% CAGR, Asia Pacific Electromechanical Joining Servo Press Market is Projected to be WWorth US$ 79.84 Million by 2031 says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific Electromechanical Joining Servo Press Market was valued at US$ 48.87 million in 2023 and is expected to reach US$ 79.84 million by 2031, registering a CAGR of 6.3% from 2023 to 2031. Surge in vehicle production and sales and increasing adoption of electromechanical joining servo press systems are among the critical factors attributed to drive the Asia Pacific Electromechanical Joining Servo Press Market.

The rise in construction activities, infrastructure development, trade activities, and the shipping and logistics industry is fueling the demand for commercial vehicles across the globe. Passenger and commercial vehicles are essential for long-haul transport, people transport, and handling any loads, as well as for industries with significant hauling capacity. A few examples of these vehicles are commercial buses, cars, passenger vehicles, delivery trucks, coaches, motors, large motor homes, tractor-trailers, transit buses, etc. The global demand and sales for all types of vehicles increased from 82.87 million units in 2022 to 92.72 million units in 2023, as per the OICA. Total vehicle sales across the globe increased by 11.9% from 2022 to 2023. Further, passenger car production in the world increased by 11% from 6.15 million units in 2022 to 6.80 million units in 2023. Thus, a surge in the production and sales of all types of vehicles drives the electromechanical joining servo press market.

On the contrary, high initial investment and additional costs hampers the growth of Asia Pacific Electromechanical Joining Servo Press Market.

Based on stroke, the Asia Pacific electromechanical joining servo press market is segmented into upto 100 mm, 101-200 mm, 201-400 mm, 401-600 mm, and above 601 mm. The 101-200 mm segment held 27.8% market share in 2023, amassing US$ 13.59 million. It is projected to garner US$ 21.52 million by 2031 to register 5.9% CAGR during 2023–2031.

By application, the Asia Pacific electromechanical joining servo press market is segmented into automotive industry, electric and electronic industry, medical device manufacturing, and others. The automotive industry segment held 44.9% share of Asia Pacific electromechanical joining servo press market in 2023, amassing US$ 21.93 million. It is projected to garner US$ 37.31 million by 2031 to expand at 6.9% CAGR from 2023 to 2031.

Based on country, the Asia Pacific electromechanical joining servo press market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 36.5% share of Asia Pacific electromechanical joining servo press market in 2023. It was assessed at US$ 17.83 million in 2023 and is likely to hit US$ 31.93 million by 2031, registering a CAGR of 7.6% during 2023 to 2031.

Key players operating in the electromechanical joining servo press market are RARUK Automation Ltd, Kistler Group, JANOME Corporation, IAI Industrieroboter GmbH, CORETEC Inc, Dai-ichi Dentsu Ltd, Bosch Rexroth AG, SCHMIDT Technology GmbH, TOX PRESSOTECHNIK GmbH & Co.KG, and PROMESS INC., among others.

• In October 2021, Yuchai, the machinery group based in southern China, opts for the NCFN and NCFT servo presses (electromechanical joining systems) from Kistler to manufacture components for engines that comply with the China VI standard. Thanks in part to custom-designed press-fit solutions, Yuchai achieves high product quality, energy efficiency and process transparency.

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