At 5.9% CAGR, Europe Electromechanical Joining Servo Press Market is Projected to be WWorth US$ 57.10 Million by 2031 says Business Market Insights

According to Business Market Insights’ research, the Europe Electromechanical Joining Servo Press Market was valued at US$ 36.17 million in 2023 and is expected to reach US$ 57.10 million by 2031, registering a CAGR of 5.9% from 2023 to 2031. Growing demand for energy efficiency in manufacturing and digitalization and integration of advanced technologies are among the critical factors attributed to drive the Europe electromechanical joining servo press market.

Electromechanical joining systems offer maximum energy efficiency, reduce CO2 emissions, and significantly reduce operating costs. The use of electromechanical joining servo presses in joining operations is becoming increasingly popular compared to the traditional hydraulic systems owing to their energy-saving benefits and forming capabilities. Reducing energy consumption and material waste contributes to CO2 reduction and helps manufacturers achieve a balance between carbon emission and absorption. Manufacturers in the automotive, aerospace, electrical, medical devices, and consumer electronics industries have benefited from the automation of mass production and the associated efficiency gains. Consumers, OEMs, and governments across the globe are demanding more sustainable production processes in the entire value chain, and a product's ecological footprint is becoming an important factor for buyers. Also, government incentives aimed at promoting the adoption of sustainable production processes are fueling the demand for electromechanical servo presses which in turn have increased investments by the companies. These systems help reduce energy consumption without decreasing the quality of the products. Thus, the growing demand for energy efficiency during the manufacturing processes is expected to create opportunities in the electromechanical joining servo press market during the forecast period.

On the contrary, high initial investment and additional costs hampers the growth of Europe electromechanical joining servo press market.

Based on stroke, the Europe 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 27.2% market share in 2023, amassing US$ 9.85 million. It is projected to garner US$ 15.05 million by 2031 to register 5.4% CAGR during 2023–2031.

By application, the Europe electromechanical joining servo press market is segmented into automotive industry, electric and electronic industry, medical device manufacturing, and others. The automotive industry segment held 46.7% share of Europe electromechanical joining servo press market in 2023, amassing US$ 16.88 million. It is projected to garner US$ 27.75 million by 2031 to expand at 6.4% CAGR from 2023 to 2031.

Based on country, the Europe electromechanical joining servo press market is categorized into Germany, France, Italy, the UK, Russia, and Rest of Europe. Our regional analysis states that Germany captured 26.1% share of Europe electromechanical joining servo press market in 2023. It was assessed at US$ 9.46 million in 2023 and is likely to hit US$ 15.25 million by 2031, registering a CAGR of 6.1% 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.

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