The global stepper motors market size is expected to reach USD 6.0 billion by 2025, registering a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. 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.
Stepper motors are available in different types such as permanent magnet, hybrid, and variable reluctance. The variable reluctance type offers high accuracy, as it turns at a specific angle to minimize the reluctance between opposite windings in the stator. Thus, owing to the accuracy of variable reluctance motor, the demand is continuously increasing. Moreover, it is highly preferred for industrial applications, automotive gauges, and machine tools and automated production equipment, which is also boosting the market growth.
The growth of the market is also attributed to increasing use of stepper motors in motion control systems, especially in China and Japan. Furthermore, a surge in demand for miniature motors in computer peripherals, digital lenses and cameras, automobile electronics, and electronic toys and games is expected to propel the market growth over the forecast period. Besides, these motors have low weight and consume less space, therefore, are used in aerospace and military applications requiring high accuracy.
Asia Pacific dominated the market in 2018 and is expected to continue its dominance over the forecast period. This is attributed to rising demand for motion control systems in China and Japan. North America is anticipated to witness significant growth over the forecast period owing to strong presence of manufacturing companies in the region. Growing adoption of automation and robotic technologies is driving regional growth.
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Further key findings from the report suggest:
- The global stepper motors market is expected to exhibit a CAGR of 4.1% over the forecast years owing to the increasing penetration of waterproof stepper motors in various application areas
- The hybrid segment is expected to account for the highest revenue share over the forecast years ascribed to factors such as high torque, high efficiency at low speed, and low stepping rate
- Increasing requirement of accuracy and stability standards in the system is estimated to catapult the closed-loop motion segment during the forecast period
- Industrial machinery application segment is expected to witness the fastest growth over the next six years
- Asia Pacific dominated the market with more than 45.0% revenue share in 2018, owing to the increasing use of motion control systems in Japan and China
- Key players such as Nippon Pulse America, Inc.; AMETEK Inc.; ORIENTAL MOTOR USA CORP.; MOONS’; Nidec Corporation; MinebeaMitsumi Inc.; Shinano ABV Technologies Pvt. Ltd.; and Phytron GmbH dominated the market in 2018 with their emphasis on expanding market presence through new product development.
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Grand View Research has segmented the global stepper motors market based on type, motion control, application, and region:
Stepper Motor Type Outlook (Revenue, USD Million, 2014 – 2025)
- Permanent Magnet
- Variable Reluctance
Stepper Motor Motion Control Outlook (Revenue, USD Million, 2014 – 2025)
- Closed Loop
- Open Loop
Stepper Motor Application Outlook (Revenue, USD Million, 2014 – 2025)
- Industrial Machinery
- Medical Equipment
- Packaging Machinery
Stepper Motor Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Latin America Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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