The global stepper motors market size is expected to be worth around US$ 8.0 billion by 2030, according to a new report by Vision Research Reports.
The global stepper motors market size was valued at US$ 6.8 billion in 2020 and is anticipated to grow at a CAGR of 6.1% during forecast period 2021 to 2030.
|Market Size||USD 8.0 billion by 2030|
|Growth Rate||CAGR of 6.1% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Type, Motion control, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Nippon Pulse America, Inc.; AMETEK.Inc.; ORIENTAL MOTORS USA CORP.; MOONS; Nidec Corporation; MinebeaMitsumi Inc.; Shinano ABV Technologies Pvt. Ltd.; Nanotec Electronic GmbH & Co. KG; Changzhou Fulling Motors Co., Ltd.; and Phytron GmbH.|
Rising demand for stepper motors from the packaging and labeling industry for automation solutions is expected to drive the market growth over the forecast period. The market growth can also be ascribed to the growing demand for reduced heat and noise generation in high-speed applications in industrial automation, which in turn is expected to create lucrative opportunities for manufacturers over the forecast period.
Motors designers have been observed to be increasingly emphasizing on optimizing design and manufacturing processes for delivering better products with improved efficiency. Further, the improved design and streamlined manufacturing process of miniature motors result in their adoption in various applications such as automobile, robotics, and semiconductor industries, which require high precision, high torque speed, and improved efficiency.
By Type Analysis
Hybrid motors dominated the type segment, accounting for the highest market share in 2018. This is ascribed to the combination of variable reluctance (VR) and permanent magnet (PM) methods, which thereby helps to achieve determined power in small package size.
Permanent magnet type accounted for a considerable share in 2020. The permanent magnet motors have high detent torque as compared to VR motors and require low power, which is ascribed to the absence of a physical commutator and brushes.
By Motion Control Analysis
Based on motion control, the stepper motors market has been categorized as a closed-loop and open loop. The open-loop segment accounted for a substantial market share of over 60.05% in 2020. Stepper motors are fundamentally open-loop devices and are controlled by a pulse sequence with a limited time interval.
the open-loop control cannot evade the drawbacks of the stepper motors itself, that is, step loss, resonance, fluctuation, and challenging to attain high speed. Therefore, the need for a closed-loop control system, offering more precision and stability standards in the system is anticipated to propel the market growth over the forecast period.
By Application Analysis
Based on application, the market is segmented into industrial machinery, medical equipment, packaging machinery, automotive, and others. The automotive application segment accounted for a largest market share in 2020 and is likely to witness steady growth over the forecast period.
The industrial machinery segment is anticipated to witness fastest growth over the forecast period. The growth is ascribed to increasing product deployment in complex industrial applications, such as extruders, feeder drives, and robotics.
By Regional Analysis
By region, the market is categorized as North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. There are various government regulations, which have mandated safety features in vehicles, including anti-lock braking system, airbags, and start-stop systems.
North America is expected to emerge as the second fastest-growing region during the forecast period. The strong presence of stepper motors manufacturers, along with discrete industries in Canada and the U.S are key factors driving the market in North America over the forecast period.
Nippon Pulse America, Inc.; AMETEK.Inc.; ORIENTAL MOTORS USA CORP.; MOONS'; Nidec Corporation; MinebeaMitsumi Inc.; Shinano ABV Technologies Pvt. Ltd.; Nanotec Electronic GmbH & Co. KG; Changzhou Fulling Motors Co., Ltd.; and Phytron GmbH.
Middle East & Africa
The Stepper Motors market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Stepper Motors market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Stepper Motors market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Stepper Motors market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Stepper Motors market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Stepper Motors capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Stepper Motors by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Stepper Motors market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Stepper Motors market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Stepper Motors market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Stepper Motors industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Stepper Motors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Stepper Motors market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Stepper Motors market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Stepper Motors market. These factors have benefited the growth of the global market for Stepper Motors. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Stepper Motors. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Stepper Motors are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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