Stepper Motors Market Witness Growth 6.1% by 2030

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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.

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Report Coverage 

Report Scope Details
Market Size USD 8.0 billion by 2030
Growth Rate CAGR of 6.1% From 2021 to 2030
Base Year 2021
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.

Growth Factors

 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.

Key Players

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.

Market Segmentation

  • Type
    • Permanent Magnet
    • Hybrid
    • Variable Reluctance
  • Motion Control
    • Closed Loop
    • Open Loop
  • Application
    • Industrial Machinery
    • Medical Equipment
    • Packaging Machinery
    • Automotive
    • Others
  • Regional
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
    • Asia Pacific
      • China
      • India
      • Japan
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

Browse complete table of contents at@ https://www.visionresearchreports.com/stepper-motors-market/toc/38707

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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