The global servo press market size was US$ 701.19 million in 2021. The global servo press market size is forecast to reach US$ 1087.8 million by 2030, growing at a compound annual growth rate (CAGR) of 5% during the forecast period from 2022 to 2030.

A servo press is a machine with a servo motor for its drive. A servo motor controls both the speed and position of the output shaft. They have a closed-loop feedback system that accurately and efficiently controls hundreds and cycle rates, which makes it ideal for high forming loads. Sheet forming operations use servo presses because they are versatile, controllable, and easy to use. The maximum tool lifetime and, at the same time, minimum power consumption are the main features of servo presses, which ultimately lead to a significant reduction in producing costs. Due to the high-end actuator, a servo press includes equivalent components. In addition, it also includes a signal amplifier, controller, active motor cooling, and precise software for closed-loop control of both position and force. 

Factors Influencing Market Growth

• Globally, rising expenditure in the automobile and electronics industries, the introduction of new products, and the growing adoption of servo press machines are major factors that are forecast to drive the market.
• A surge in demand for servo press machines in the aerospace industry, and the increasing use of digital servo press machines in aircraft manufacturing, will drive the growth of the global servo press market.
• Lack of skilled technicians and lack of standards and protocols may slow down the global market's growth. 
• Technology advances, the growing number of research and development activities related to servo press machines, the thriving automobile sector, and the large-scale product adoption in the aviation sector provide favorable growth opportunities for the global market.

Impact Analysis of COVID-19

A lockdown caused by COVID-19 has halted the production of many servo press products. With the COVID-19 vaccine on the market, it is forecast to see a drop in the number of COVID-19 cases soon. Due to this, servo press companies have reopened at full capacity. The servo press market will recover by the start of 2022. After COVID-19 infection cases begin to decline, equipment and machinery manufacturers must focus on protecting their staff, operations, and supply networks to respond to urgent emergencies and establish new working methods.

Regional Insights

Asia-Pacific has the leading position in 2021 and is forecast to grow significantly during the forecast period. With the growing population of the Asia-Pacific region and the steady growth of economies such as India, China, Mexico, and Bangladesh, urbanization has occurred at a rapid rate, which is likely to boost the development of the industrial sector, which, in turn, will drive demand for servo presses. The Asia-Pacific region is emerging as a major hub for the automotive industry due to rapid growth in China and India.

Leading Competitors

The leading prominent companies profiled in the global servo press market are:

• Amino Corporation
• Hitachi Zosen Fukui Corporation
• ISGEC Heavy Engineering Limited
• Japan Automatic Machine Co., Limited
• Komatsu Limited
• Nidec-Shimpo Corporation
• Promess Incorporated
• Schuler AG
• SIMPAC Corporation
• Tox Pressotechnik GmbH & Co. KG
• Other Prominent Players

Scope of the Report

The global servo press market segmentation focuses on Type, Capacity, End-User, and Region.

Segmentation based on Type

• Crank
• Screw

Segmentation based on Capacity

• Below 200 T
• 201 -500 T
• Above 500 T

Segmentation based on End-User

• Automotive
• Aerospace
• Electrical and Electronics
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America