Resolvers are devices used to determine the angular position of shafts or moving objects. It helps in converting angular displacement into DC voltage or current. Resolvers are majorly utilized in industrial machinery, robotics, avionics and automotive sectors. The devices offer advantages such as high accuracy, ruggedness and reliability even in extreme conditions. With growing machinery production and automotive manufacturing worldwide, the demand for resolvers is experiencing steady rise.

The global Resolvers Market is estimated to be valued at US$ 970 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity
Increasing Demand from Machinery and Automotive Sectors
Resolvers find wide usage in manufacturing heavy machinery and automotive components that require angular measurement feedback. The surging demand for industrial robots, machine tools, engines and autonomous/electric vehicles worldwide presents lucrative opportunities for resolvers market. The resolver manufacturers are focusing on developing custom resolver solutions that meet the specific positioning and motion control needs of machinery and automobiles. This rising demand from machinery and automotive sectors is estimated to drive the global resolvers market during the forecast period.

Porter's Analysis

Threat of new entrants: The resolvers market has moderate threat of new entrants due to high initial capital requirement for R&D and manufacturing.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and differentiated product offerings from various manufacturers.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of alternative sourcing options for raw materials.

Threat of new substitutes: Threat from substitutes is low as resolvers provide precise measurement abilities not available in alternatives.

Competitive rivalry: The market has high competitive rivalry due to presence of major global players.

SWOT Analysis

Strength: Resolvers find wide application in avionics, industrial control systems and robotics due to their high reliability and precision.

Weakness: High dependence on aerospace and automation industries leads to demand fluctuations. Manufacturing complexity increases cost of resolvers.

Opportunity: Growth of industrial automation and rise of Industry 4.0 presents an opportunity to resolve manufacturers. Emerging applications in unmanned aerial vehicles and electric vehicles can boost demand.

Threats: Slowdown in capital expenditure in aerospace and defense industries poses threat to market. Substitutes like encoders gain traction in applications where precision is less critical.

Key Takeaways

The Global Resolvers Market Scope is expected to witness high over the forecast period driven by increased aircraft manufacturing and rising industrial automation. The global Resolvers Market is estimated to be valued at US$ 970 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030.

North America holds the largest share currently due to strong automotive and aerospace sector in the region.


Key players operating in the resolvers market are Moog Inc., Honeywell International Inc., AMETEK Inc., TE Connectivity, Woodward Inc., General Dynamics Corporation, Parker Hannifin Corp, Sensata Technologies, Tamagawa Seiki Co., Ltd., LTN Servotechnik GmbH. Moog Inc. and Honeywell International hold a major share through their extensive product portfolio and long-standing customer relationships in aerospace applications.
 

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