According to our latest study on "Electromechanical Joining Servo Press Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Stroke and Application," the electromechanical joining servo press market size was valued at US$ 138.02 million in 2023 and is expected to reach US$ 216.36 million by 2031; it is estimated to record a CAGR of 5.8% from 2023 to 2031.

The electromechanical joining servo press market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. Asia Pacific dominated the market in 2023, followed by Europe and North America, respectively. The Europe electromechanical joining servo press market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The region has a well-established manufacturing industry for automotive, electronics, and medical equipment that uses cutting-edge technologies, such as automation, robotics, and Industry 4.0. Europe is one of the most important automobile manufacturers in the world. The presence of world-leading automobile manufacturers such as Volkswagen AG, Stellantis NV, Mercedes-Benz Group AG, Bayerische Motoren Werke AG, and Renault SA is driving the automotive industry's growth. As per the European Automobile Manufacturers Association (ACEA), new vehicle (all types) registrations in Europe increased by 18.7% from 15.08 million units in 2022 to 17.9 million units in 2023. Germany accounted for the highest share in new vehicle registration in the region, followed by France, UK, and Italy. Such a rise in vehicle sales in the region is expected to fuel the demand for electromechanical joining servo press in joining operations.

In terms of revenue, Germany dominated the electromechanical joining servo press market share. Germany is the largest economy in Europe and houses several leading industry verticals, including automotive, electronics, and medical devices, among others. As per the European Automobile Manufacturers Association (ACEA), new car registrations in Germany increased by ~7% to reach ~2.84 million units in 2023 from 2.65 million units in 2022. It is the largest automotive hub in Europe, accounting for over 25% of all passenger car production and ~20% of all new vehicle registrations in 2023. Germany was Europe's leading passenger vehicle producer in 2023; also, manufacturing plants in the country recorded the manufacturing of approximately 3.10 million units at ~17% annual increase. Germany has a well-established ecosystem for automobile manufacturing. The electromechanical joining servo press is used in automotive applications, including joining gear wheels on shafts, joining dowel pins in housings, and joining outer bearing rings in bearing housings, among others. In addition, the benefits associated with electromechanical joining servo press are less energy utilization, carbon emission reduction, accurate force, etc. Electromechanical joining servo press systems also monitor, control, and optimize joining and press fitting operations in the automotive industry. The growing applications of electromechanical joining servo press systems in the automotive industry are projected to boost the market growth from 2023 to 2031.

Key Findings of Electromechanical joining servo press market Study:

The electromechanical joining servo press market is segmented on the basis of stroke and application. By stroke, the electromechanical joining servo press market is divided into upto 100 mm, 101-200 mm, 201-400 mm, 401-600 mm, and above 601 mm. Based on application, the electromechanical joining servo press market is categorized into automotive industry, electric and electronic industry, medical device manufacturing, and others.

The automotive industry segment held the largest share in the electromechanical joining servo press market in 2023. This is owing to the rise in demand for electromechanical joining servo press in automotive manufacturing operations. In the automotive sector, electromechanical joining servo presses are crucial for applications, including new energy vehicles (NEV), engine and transmission assembly, steering systems, chassis, brakes, injection pumps, and airbags. These presses facilitate processes such as press-fitting, caulking, riveting, embossing, and clinching, which are essential for ensuring the structural integrity and safety of vehicles. The growing demand for fuel-efficient and lightweight vehicles propels the growth of this subsegment. As per the International Organization of Motor Vehicle Manufacturers (OICA), global vehicle production reached approximately 94 million units in 2023 and is expected to grow as the adoption of electric vehicles (EVs) rises. Further, stringent safety regulations and the need for high-quality manufacturing processes are driving manufacturers to invest in advanced joining technologies.

The transition toward electric and hybrid vehicles presents significant growth opportunities for electromechanical joining servo presses. As manufacturers strive to produce lighter components and improve assembly efficiency, the demand for precision joining solutions will continue to rise. For instance, in October 2021, Yuchai, China's largest engine manufacturer, selected Kistler's NCFN and NCFT servo presses as part of their commitment to producing high-quality engine components that meet the stringent China VI emissions standard. Additionally, advancements in automation and Industry 4.0 technologies will further enhance production capabilities, making servo presses integral to future automotive manufacturing.

Electric and electronic industry accounted for the 2nd largest electromechanical joining servo press market share in 2023 and is expected to grow at CAGR of 5.9% from 2023 to 2031. In the electrical and electronics industry, electromechanical joining servo presses are used for assembling various components, such as circuit boards, connectors, and small-scale electronic devices. The precision and control offered by these presses are crucial for delicate joining operations, ensuring the reliability and functionality of electronic products. Increased complexity and rising miniaturization of electronic components are a few factors contributing to the demand for precise and reliable joining technologies. Electromechanical servo presses provide the necessary accuracy and repeatability to assemble these intricate components without causing damage, meeting the stringent quality requirements of the electronics industry.

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 among the key players profiled in the electromechanical joining servo press market report. Several other major players were studied and analyzed during the electromechanical joining servo press market analysis to get a holistic view of the market and its ecosystem. The electromechanical joining servo press market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current electromechanical joining servo press market trends and their foreseeable impact during the forecast period.

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