The electromechanical joining servo press market size is projected to reach US$ 216.36 million by 2031 from US$ 138.02 million in 2023. The market is expected to register a CAGR of 5.8% during 2023–2031. Continuous growth in the electronic and electrical industry are likely to bring new key trends in the market in the coming years.
Press drives generate high force using a pneumatic pressure intensifier and hydraulic cylinder; as a result, servo press drives are being used as this equipment requires less energy, is easy to program and set up, and does not require high oil and air pressure in the production environment. In modern automated automotive manufacturing facilities, the use of pneumatic/hydraulic press drives has dropped to less than 40% due to the higher weight of such devices. Electromechanical joining servo press systems are increasingly replacing conventional hydraulic or pneumo-hydraulic systems. 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 government 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 is fueling the demand for electromechanical servo presses which in turn have increased investments by the companies.
The electromechanical joining servo press equipment integrates advanced technology to enhance precision, efficiency, and sustainability in various applications. These servo presses utilize electric motors to control the joining process, offering significant advantages over traditional hydraulic systems, such as reduced energy consumption, lower maintenance costs, and improved process control. Servo presses are sophisticated electromechanical joining systems utilized to create a variety of joints through processes including press-fitting, caulking, riveting, embossing, and clinching. These systems are effective in both automated production environments and manual workstations. In the automotive sector, servo presses are extensively employed for diverse applications such as assembling new energy vehicles (NEVs), engines, transmissions, steering systems, chassis components, brakes, injection pumps, and airbags. Servo presses are also integral to the assembly of various electric motors, including those used in windshield wipers. Moreover, these systems find significant use in the medical devices sector, where precision is critical, as well as in the electronics industry for assembling intricate components.
The global demand for vehicles is growing notably since 2021. As per the data provided by the International Organization of Motor Vehicle Manufacturers in 2023, the overall global sales of vehicles increased from 82.87 million units in 2022 to 92.72 million units in 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.
The importance of efficient and cost-effective manufacturing operations is increasing with the growing demand for process automation across the manufacturing sector. Automated manufacturing processes and high-end technologies such as computer numerical control (CNC) offer several advantages over traditional manual manufacturing techniques. By integrating computer-aided design (CAD) and computer-aided manufacturing (CAM) systems with automated manufacturing processes, tasks such as press-fitting, caulking, riveting, embossing, clinching, and joining can be streamlined and automated while improving production and overall efficiency. Automated processes can also enhance the quality of products by minimizing errors and differences associated with manual production.
Key segments that contributed to the derivation of the electromechanical joining servo press market analysis are distribution channel, product, and vehicle type.
The geographic scope of the electromechanical joining servo press market report offers a detailed global analysis. North America, Europe, and Asia Pacific are major regions witnessing significant growth in the electromechanical joining servo press market.
Asia Pacific holds a key position in the electromechanical joining servo press market owing to its strong industrial base and technological advancements. China dominates the market in this region. The presence of industries such as automotive, electrical & electronics, and medical devices manufacturing is fueling the demand for electromechanical joining servo presses in joining operations in Asia Pacific. Moreover, the electromechanical joining servo presses offer various benefits such as enhanced product quality and plant productivity, reduced operating costs, high energy efficiency, carbon emission reduction, etc. North America accounted for a significant share of the electromechanical joining servo press market owing to the presence of key manufacturing economies, including the US, Canada, and Mexico. The US is the second largest manufacturing powerhouse after China; it accounted for ~16% of the total manufacturing output in the world in 2023. In addition, Canada and Mexico are contributing toward the growth of the electromechanical joining servo press market in North America, with the rise in investment in establishing manufacturing bases for automotive, electronics, domestic appliances, power tools, and medical devices in these countries. In addition, as per the OICA, commercial vehicle sales in North America increased by 14.2% from 1.33 million units in 2022 to 1.52 million units in 2023. Such a rise in commercial vehicle sales is expected to boost the market growth in the coming years. Moreover, the strong focus on research and development, automation, and digitalization in the manufacturing sector in the US is fueling the demand for electromechanical joining servo press.
Europe holds a significant share of the electromechanical joining servo press market. The region is known for its well-established manufacturing facilities, including automotive, aerospace, electronics & electrical, and medical device manufacturing, among others. These industries rely heavily on these types of servo presses to achieve high precision and efficiency in their joining operations, driving the electromechanical joining servo press market. Germany is a major market in Europe, known for its technologically advanced engineering and manufacturing capabilities with the presence of established automotive sector in the country. As per the insights from OICA, the new registration of vehicles (all types) in Europe increased from 16.71 million units in 2022 to 17.9 million units in 2023, which, in turn, is projected to boost the demand for electromechanical joining servo press in automotive component production in the coming years. The Middle East and Africa and South America also contributed to the electromechanical joining servo press market growth owing to the growing investment in automotive sales, electronics & electrical, medical equipment manufacturing plants in the regions.
The regional trends and factors influencing the Electromechanical Joining Servo Press Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Electromechanical Joining Servo Press Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 138.02 Million |
| Market Size by 2031 | US$ 216.36 Million |
| Global CAGR (2023 - 2031) | 5.8% |
| Historical Data | 2021-2023 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Stroke
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Electromechanical Joining Servo Press Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Electromechanical Joining Servo Press Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The electromechanical joining servo press market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the electromechanical joining servo press market are listed below:
The "Electromechanical Joining Servo Press Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The List of Companies - Electromechanical Joining Servo Press Market
The Asia Pacific dominated the global electromechanical joining servo press market in 2023.
Increasing adoption of electromechanical joining servo press systems and surge in vehicle production and sales are the driving factors in the market.
Growing electrical and electronics sector across the globe is the key future trend of the Global electromechanical joining servo press market.
RARUK Automation Ltd.; Kistler; Janome; IAI Industrieroboter GmbH; Coretec; Dai-Ichi Dentsu Ltd.; HIKI TEC., JSC.; SCHMIDT Technology GmbH; TOX PRESSOTECHNIK GmbH & Co. KG; and PROMESS INC. are the leading players operating in the global electromechanical joining servo press market.
The estimated value of the global electromechanical joining servo press market by 2031 is US$ 216.36 million.