Resolver Industry: The market is growing substantially worldwide
Resolver is a kind of electromagnetic transducer that can be used in a variety of position and velocity feedback applications including light duty/servo, heavy duty applications or light industrial. It is referred as an analog device and the electrical outputs are continuous through one complete mechanical revolution, on the other hand, the theoretical resolution of a single speed resolveris infinite.
Increasing investments by the government; growing demand for energy; and an increase in the number of electric vehicles; resolvers are used in EVs in order to control the rotary systems of a vehicle are some of the key factors driving most of the growth of the market. Additionally, increasing investments for power resolver will boost the market over the forecast period.
The resolvers are used in a variety of applications given below:
Increasing prevalence of Hybrid Electric Technologies will drive the market in the Asia Pacific
Asia Pacific is projected to enhance the global sales for the resolver owing to the availability of incentives and subsidies provided through government schemes. The resolver are widely used in manufacturing of electric vehicles, with the rise in popularity of hybrid electric vehicles (HEVs), the market is expected to expand. Considering, China is leading the market in terms of manufacturing all types of fully or hybrid electric technologies such as electric trucks due to presence of major manufacturers of electric trucks in the region.
The presence of manufacturers enlightened the market with China contributing 50% of the total global sales. Moreover, government in China is supporting for new energy vehicles as well as the government plans to diminish the sale of new conventional vehicles in the coming years is projected to fuel the demand for these resolver market.
Technological advancements are on a rise in resolvers market. There is huge scope for resolvers to develop in terms of extending the base for rotary system which will attract more consumers towards the product. The future opportunities can be enlarged with introducing techniques which will influence manufacturers to employ the resolvers in the electric vehicles and across the globe.