Growing technological innovations and developments have led to the introduction of waterproof stepper motors. These waterproof stepper motors facilitate corrosion-free operation and are therefore, highly preferred in the food and beverage packaging industry, which is another trend observed in the global stepper motors market.
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The digital version of an electric motor is known as a stepper motor. In stepper motors, the movement of the rotor takes place in discrete steps as per commands, as opposed to continuous rotation such as in the case of conventional motors. Stepper motors play an important role in industrial motor applications, owing to their accurate response to the applied electrical pulses and ease in operation. In terms of technology, permanent magnet stepper motors are preferred for high power applications, such as for industrial drive and navy propulsion applications.
The preference for high power application is mainly due to the introduction of variable flux permanent magnet stepper motors with higher accuracy and control. On the other hand, hybrid stepper motors are anticipated to witness healthy growth in the medical equipment industry. Hybrid stepper motors are primarily used in medical equipment, such as surgical hand tools, medical pumps and ventilation equipment.
Asia Pacific is anticipated to dominate the global stepper market throughout the forecast period, owing to the presence of developing economies, such as China, in this region. China is also estimated to witness overproduction of stepper motors, owing to the sluggish demand in the market. North America is expected to register significant growth of the market in the forecast period. On the other hand, slower economic growth in the European market is going to hamper the demand for stepper motors in this region. Additionally, weak growth of the semiconductor market in japan is also pegged to affect the stepper motors market in the country.
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By Market Participants
Some of the manufacturers engaged in the manufacturing of stepper motors are Nippon Pulse Motor Co. Ltd., ABB Ltd., Schneider Electric SE., Delta Electronics Inc., Faulhaber Group, Sanyo Denki Co. Ltd., Applied Motion Products Inc., Nidec Corporation, National Instruments Corporation, Oriental Motor Co. Ltd., and Lin Engineering LLC.
Global Stepper Motors Market Opportunities
Technological developments and strong R&D have increased the accuracy of stepper motors. Attributing to this, the penetration of stepper motors in the applications of servo motors has increased. Additionally, reduction in heat and noise generation under high speed applications in industrial automation is creating lucrative opportunities for the manufacturers of stepper motors.
On the basis of type, the global stepper market can be segmented as:
- Rotary Stepper Motors
- Fully-Enclosed Stepper Drives
- Integrated Lead Screw Stepper Motors
On the basis of technology, the global stepper market can be segmented as:
- Permanent Magnet Stepper Motor
- Hybrid Stepper Motor
- Variable Reluctance Stepper Motor
On the basis of end user, the global stepper market can be segmented as:
- Packaging & Labeling
- Medical Equipment
- Industrial Machineries
On the basis of region, global stepper market can be segmented as:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Eastern Europe (Poland, Russia)
- Western Europe (Germany, Italy, France, U.K., Spain)
- South East Asia and Pacific (India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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Brief Approach to Research
FMI will follow a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, product type and end uses of the product segments covered in the study is followed by a demand-side analysis to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level and consolidated and synthesized at a global level to estimate the overall market sizes.