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.
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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. Therefore, with advancement in stepper motor technology, the size of stepper motors has also decreased, mainly due to the growing penetration of miniature stepper motors in the electronics industry. This reduction in size is an important parameter responsible for the surge in demand. Additionally, the growing demand for waterproof stepper motors is expected to boost the demand for stepper motors during the forecast period.
Rising demand from Packaging and Labelling Industry
The demand from the packaging and labeling industry for automation solutions has witnessed significant growth in the recent years. Modern stepper motors integrated with packaging machineries are more efficient, productive and reliable at a lower cost, which is an emerging trend witnessed in the stepper motor market.
Introduction of Waterproof Stepper Motors
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.
Global Stepper Motors Market: Regional Outlook
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.
Global Stepper Motors Market: 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.
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.
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Global Stepper Motors Market: Segmentation
Stepper motors are electromechanical devices that convert electrical pulses into distinct mechanical movements. These motors are brushless direct current electric motors that divide the full rotation operation in a discrete number of equal steps. The market for stepper motors can be segmented on the basis of type, end user, technology and region.
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:
- Semiconductor
- Packaging & Labeling
- Medical Equipment
- Industrial Machineries
- Others
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)
- China
- Japan
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Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the stepper motor market, including background and evolution
- Macroeconomic factors affecting the stepper motor market and its potential
- Market dynamics, such as drivers, challenges and trends
- Detailed value chain analysis of the stepper motor market
- Cost structure of the products and segments covered in the global stepper motor market
- In-depth pricing analysis, by key product segments, regions and by major stepper motor market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario in the global stepper motor market
- Analysis of the global stepper motor market structure, including a tier-wise categorization of key stepper motor market participants
- Competitive landscape of the market, including detailed profiles of top players in the stepper motor market