RESOLVERS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Market Size and Trends

The Global Resolvers Market size was valued at US$ 970 Million in 2022 and is expected to reach US$ 1,670 Million by 2030, growing at a compound annual growth rate (CAGR) of 7% from 2023 to 2030. Resolvers are electromechanical devices that perform angular position measurements. They are used in myriad applications that require precise shaft angular positioning and speed control including industrial robots, antilock braking systems, machine tools, and other automation systems. The key factors driving the market growth include the increasing use of resolvers in defense equipment such as radars, motion control systems, satellites etc. and growth of industrial automation. The resolvers market is segmented based on type, axis type, end-use industry, output, component, and region. By type, the market is segmented into brushless resolvers, brushed resolvers, and others. The brushless resolvers segment accounts for the largest share of the resolvers market owing to their various advantages over brushed resolvers such as contactless design, higher accuracy, and reliability.