DUBLIN--(BUSINESS WIRE )--The "North America Servo Press Market Size, Share & Industry Trends Analysis Report By Type, By Industry (Automotive, Aerospace, Electrical & Electronics and Others), By Capacity, By Country and Growth Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The North America Servo Press Market is expected to witness market growth of 4.3% CAGR during the forecast period (2021-2027).
Companies are developing their servo presses manufacturing and production by expanding their operations into new nations. For example, Hitachi Zosen Fukui launched its second machine facility in April 2019. It's a key component of the main product, a super-large press machine which can process up to 80 tonnes, an increase of one size above the previous model, with the objective of enhancing productivity by 20%.
Servo motors regulate the output shaft's speed and location. It also incorporates a closed-loop feedback mechanism that manages the cycle rate hundreds of times more accurately and efficiently, making it perfect for heavy moulding loads. Sheet moulding processes employ servo presses because of their flexibility, controllability, and ease of usage. The servo press's main benefits are its extended mould life and low energy consumption, which results in a considerable savings in manufacturing costs.
Servo motors are being used in a variety of production processes in the United States, which require high accuracy and repeatability. Servo motors, unlike induction Motors orhydraulic pumps, are turned on and off during operation to save energy (saving up to 65 percent ). Due to their brushless design, theservo motors have found applications in a variety of harsh and demanding industries, including food and beverage, defence, and subsea and oil & gas, and subsea and oil and gas.
The US market dominated the North America Servo Press Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $157.1 million by 2027. The Canada market is anticipated to grow a CAGR of 6.7% during (2021 - 2027). Additionally, The Mexico market is expected to showcase a CAGR of 5.8% during (2021 - 2027).
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900