Growth in the servo press market is heavily influenced by broader advancements in the automotive industry
Albany, NY -- (SBWIRE) -- 06/11/2018 -- Increasing emphasis on fuel efficiency, combined with steadiness in the automotive industry are likely to provide an impetus to the growth of servo press market, according to a new research study added to the repository of Market Research Reports Search Engine (MRRSE). According to the report, the global servo press market is likely to grow at over 9% CAGR during the assessment period.
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The business intelligence study is a thorough source of information and analysis on the servo press market that highlights the drivers, restraints, opportunities, and trends that are influencing the growth of the market. In addition to offering accurate and unbiased information on the market dynamics, the business intelligence study also offers comprehensive analysis on the competitive scenario in the market. The product and business strategies of some of the leading players in the market have been covered in detail in the report.
According to the report, growth in the servo press market is heavily influenced by broader advancements in the automotive industry. The growing emphasis on reducing the weight of vehicles, combined with investments in finding novel technologies is likely to provide an impetus to growth. Automotive manufacturers are focusing on adopting lightweight aluminium alloys and steel with high tensile strength to achieve this. These factors are likely to provide an impetus to growth of the servo press market during the assessment period.
In a bid to offer readers detailed insights and analysis, the report has segmented the market on the basis of region, product type, capacity, and end-use industry. By end use industry, servo press market is likely to be driven by the automotive industry, whereas steady growth in the aerospace sector is likely to create new opportunities in the market.
By capacity, demand for large scale servo press is likely to witness steady growth during the assessment period. The large (>500 tons) segment is likely to witness significant CAGR of 9.2% during the assessment period. By product type, demand for crank type servo press is likely to remain healthy, owing to its advantages over other variants. In addition to crank type servo press, demand is also likely to remain stellar for screw segment.
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China continues to be the largest market for servo press globally. Demand for servo press in China is driven by the robust automotive industry in the region, whereas the behemoth automotive industry in the region is also likely to fuel growth. The research projects that the market in China will grow at nearly 11% during the assessment period, and reach a valuation of nearly US$ 1.2 Bn. Some of the leading players in the servo press market include Nidec-Shimpo Corporation, AIDA ENGINEERING, LTD., Schuler AG, Komatsu Ltd., Shieh Yih Machinery Industry Co., Ltd., Promess Incorporated, SIMPAC Corp., Chin Fong Machine Industrial Co., Ltd., Hitachi Zosen Fukui Corporation, Amino Corporation, Fagor Arrasate, Tox Pressotechnik GmbH & Co. KG, Japan Automatic Machine Co., Ltd., Hoden Seimitsu Kenkyusho Co., Ltd., and ISGEC Heavy Engineering Ltd.
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