Europe Electromechanical Joining Servo Press Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 114 | Report Code: BMIRE00031823 | Category: Manufacturing and Construction
No. of Pages: 114 | Report Code: BMIRE00031823 | Category: Manufacturing and Construction
The Europe Electromechanical Joining Servo Press Market size is expected to reach US$ 57.10 million by 2031 from US$ 36.17 million in 2023. The market is estimated to record a CAGR of 5.9% from 2023-2031.
The electromechanical joining servo press market in Europe is segmented into France, Germany, Italy, Russia, the UK, and the Rest of Europe. The region has a well-established manufacturing industry for automotive, electronics, and medical equipment that uses cutting-edge technologies, such as automation, robotics, and Industry 4.0. Europe is one of the most important automobile manufacturers in the world. The presence of world-leading automobile manufacturers such as Volkswagen AG, Stellantis NV, Mercedes-Benz Group AG, Bayerische Motoren Werke AG, and Renault SA is driving the automotive industry's growth. As per the European Automobile Manufacturers Association (ACEA), new vehicle (all types) registrations in Europe increased by 18.7% from 15.08 million units in 2022 to 17.9 million units in 2023. Germany accounted for the highest share in new vehicle registration in the region, followed by France, UK, and Italy. Such a rise in vehicle sales in the region is expected to fuel the demand for electromechanical joining servo press in joining operations. Other sectors fueling the growth of the electromechanical joining servo press market are the medical devices and electronics equipment manufacturing sectors. As per the insights from MedTech Europe (European Trade Association), the Europe medical device market accounted for ~26% of the total market share in the world in 2023. Top countries contributing to the medical device sector growth include Germany, France, Italy, and the UK, with more than 50% of the total share in Europe; however, as per the insights from IPC International, Inc., the electronics manufacturing sector is expected to witness a decline in market share worldwide from 16.5% in 2023 to 15% by 2035. This decline is projected to limit the demand for electromechanical joining servo presses from the electronics sector during the forecast period. Government initiatives to boost electronics production are expected to fuel the market growth from 2023 to 2031
Key segments that contributed to the derivation of the electromechanical joining servo press market analysis are stroke and application.
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. In addition, the highest vehicle sales growth was registered in Europe, with a growth rate of 18.7% from 2022 to 2023. The production of buses and coaches increased from 0.25 million units in 2022 to 0.31 million units in 2023, while heavy truck production grew from 3.31 million units in 2022 to 3.77 million units in 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.
Based on country, the Europe electromechanical joining servo press market comprises the Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany held the largest share in 2023.
Germany is the largest economy in Europe and houses several leading industry verticals, including automotive, electronics, and medical devices, among others. As per the European Automobile Manufacturers Association (ACEA), new car registrations in Germany increased by ~7% to reach ~2.84 million units in 2023 from 2.65 million units in 2022. It is the largest automotive hub in Europe, accounting for over 25% of all passenger car production and ~20% of all new vehicle registrations in 2023. Germany was Europe's leading passenger vehicle producer in 2023; also, manufacturing plants in the country recorded the manufacturing of approximately 3.10 million units at ~17% annual increase. Germany has a well-established ecosystem for automobile manufacturing. The electromechanical joining servo press is used in automotive applications, including joining gear wheels on shafts, joining dowel pins in housings, and joining outer bearing rings in bearing housings, among others. In addition, the benefits associated with electromechanical joining servo press are less energy utilization, carbon emission reduction, accurate force, etc. Electromechanical joining servo press systems also monitor, control, and optimize joining and press fitting operations in the automotive industry. The growing applications of electromechanical joining servo press systems in the automotive industry are projected to boost the market growth from 2023 to 2031.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 36.17 Million |
| Market Size by 2031 | US$ 57.10 Million |
| Global CAGR (2023 - 2031) | 5.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Stroke
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
Some of the key players operating in the market include 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. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
Business Market Insights’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The Europe Electromechanical Joining Servo Press Market is valued at US$ 36.17 Million in 2023, it is projected to reach US$ 57.10 Million by 2031.
As per our report Europe Electromechanical Joining Servo Press Market, the market size is valued at US$ 36.17 Million in 2023, projecting it to reach US$ 57.10 Million by 2031. This translates to a CAGR of approximately 5.9% during the forecast period.
The Europe Electromechanical Joining Servo Press Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Electromechanical Joining Servo Press Market report:
The Europe Electromechanical Joining Servo Press Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Electromechanical Joining Servo Press Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Electromechanical Joining Servo Press Market value chain can benefit from the information contained in a comprehensive market report.
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