Digital Servo Press Market Size

Digital Servo Press Market Analysis

The Digital Servo Press Market size is estimated at USD 1.07 billion in 2024, and is expected to reach USD 1.48 billion by 2029, growing at a CAGR of 6.74% during the forecast period (2024-2029).

• The automotive sector is one of the major drivers for the increasing demand for servo presses, as the industry is recognizing the benefits of this new technology. The evolution of high-strength steels and advanced materials and the necessities of producing parts that meet the shape and tolerance requirements in the automotive and other industries have forced end-users to shift toward servo presses, hence acting as major factors driving the digital servo press market.
• Engineers are coming up with new designs in the market, which are inclined toward improving the forming capabilities of these presses and using high strength materials. In the recent few years, many small-sized servo presses have found their applications in high technology-based sectors, such as aerospace and defense. A digital servo press features the same elements as the high-end actuator, but it also includes active motor cooling, signal amplifiers, and a controller with dedicated software to provide true closed-loop control of both force and position. The presses can be driven directly by the servomotor or through a gearbox.
• Increasing automotive and electronics fields' expenditures, extreme competition, introducing new products, increasing spending on the general industry, revamping old technology, and the increasing adoption of digital servo press in developing countries are expected to drive growth in the overall market. Some companies, like F Janome Industrial Equipment, Promess, Kistler, and Tox Pressotechnik, are well-known for the performance of their digital servo press and related services.