PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464615
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464615
Resolvers Market size was valued at USD 981 Million in 2023, expanding at a CAGR of 6.9% from 2024 to 2032.
Resolvers represent electromechanical devices designed for angular position measurements, finding application across a spectrum of industries requiring precise shaft angular positioning and speed control. These applications include industrial robots, antilock braking systems, machine tools, and various automation systems. Market growth is primarily fueled by key factors such as the expanding utilization of resolvers in defense equipment like radars, motion control systems, and satellites, alongside the growth of industrial automation.
Resolvers Market- Market Dynamics
Increasing of robotics and industrial automation to propel market demand
The increasing adoption of robotics and industrial automation across diverse industries stands out as a significant driver for resolver demand. Resolvers play a pivotal role in feedback and motion control applications within robotics, CNC machines, and factory automation equipment. The escalating focus on industrial automation aimed at enhancing productivity and cost reduction is expected to drive the deployment of automation equipment employing resolvers. The adoption of resolvers for aircraft control systems and guided weapons is projected to rise, driven by their high precision and reliability, which are particularly suited for critical applications. However, the introduction of integrated position sensors poses a notable restraining factor, as they are replacing discrete resolver solutions. Manufacturers must prioritize technological advancements to enhance sensor accuracy and reduce size for resolvers to maintain competitiveness against integrated solutions. Moreover, the ongoing shift towards smarter industrial equipment presents new opportunities for resolver providers to develop advanced solutions tailored to industry needs. This adaptation to evolving industrial requirements offers avenues for growth and innovation in the resolver market.
Resolvers Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.9% over the forecast period (2024-2032)
Based on product type segmentation, Brushless Resolvers was predicted to show maximum market share in the year 2023
Based on end user segmentation, aerospace and defense was the leading type in 2023
Based on output segmentation, analog is expected to dominate the market in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Resolvers Market is segmented on the basis of Product Type, Axis Type, Output, Component, End User and Region.
The market is divided into three categories based on product type: Brushless Resolvers, Brushed Resolvers, and Others. Brushless resolvers emerge as the dominant type in the market in 2023. These advanced rotary position sensors offer accurate angle feedback without relying on brushes for electrical contact. Their design enhances durability, reduces maintenance needs, and minimizes electrical noise, making them well-suited for applications requiring precision and reliability. Recent trends indicate increasing adoption of brushless resolvers across industries to modernize systems, benefiting from improved performance and reduced downtime.
The market is divided into four categories based on end user: Aerospace & Defense, Automotive, Industrial, and Others. In terms of end user, aerospace and defense dominate the market in 2023. The utilization of resolvers is significantly increasing in defense applications such as radars, motion control systems, satellites, and navigation and positioning equipment. Resolvers, renowned for their high reliability and accuracy, are particularly suitable for defense applications. For example, Northrop Grumman employs rugged resolvers on the turret drive system for its AN/TPY-2 radar. Global increases in defense spending are driving the adoption of resolvers in critical defense electronic systems. Furthermore, defense forces are retrofitting legacy equipment with modern resolvers to enhance capabilities. The robust design and resistance to vibration ensure long service life for resolvers in defense applications. Northrop Grumman Corporation, an American multinational aerospace and defense technology company, with 95,000 employees and an annual revenue exceeding $30 billion, is one of the world's largest weapons manufacturers and military technology providers.
Resolvers Market- Volume Data Insights
As industries increasingly rely on precise motion control systems, there's a growing demand for accurate position feedback devices like resolvers. Resolvers play a critical role in providing reliable and high-resolution angular position feedback in various applications, including robotics, aerospace, and automotive systems. Moreover, resolvers offer several advantages over alternative position sensing technologies, such as robustness in harsh environments, immunity to electromagnetic interference, and durability, making them ideal for demanding industrial applications. Additionally, advancements in resolver technology, including miniaturization, higher accuracy, and improved reliability, further drive market growth by expanding their applicability across a wide range of industries. Furthermore, the increasing adoption of automation and robotics in manufacturing and process industries fuels the demand for resolvers as essential components in motion control systems.
Resolvers Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In the resolver market, companies employ strategic initiatives focused on product innovation, market diversification, and strategic partnerships to maintain competitiveness. Ongoing research and development endeavors aim to drive innovation in resolver technology, with a focus on enhancing accuracy, reliability, and performance across various applications such as motion control, robotics, and aerospace. Collaborations with manufacturers, system integrators, and end-users facilitate market diversification and access to new industries and geographic regions. Moreover, investments in customer education and technical support ensure optimal resolver performance and customer satisfaction. Additionally, diversifying product offerings to include resolver-based solutions tailored for specific applications and industries enables companies to address the unique requirements of different markets and expand their market share. By prioritizing innovation, market diversification, and strategic partnerships, companies can strengthen their position in the resolver market and capitalize on emerging opportunities across various sectors.
In January 2022, Honeywell introduced the TR30 Series Resolver, designed to deliver enhanced accuracy and reliability in high-vibration environments such as motors and generators. Honeywell International Inc., headquartered in Charlotte, North Carolina, is a publicly traded, multinational conglomerate corporation primarily operating in aerospace, building technologies, performance materials and technologies, and safety and productivity solutions.
GLOBAL RESOLVERS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
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
Others