Stepper Motor Market Report For 2018 to 2023 providing information of Top Companies, Trends, Growth Factors and Industry challenges of Top 20 Countries Data

Global stepper motor market is expected to reach $2,556.3 million by 2023. Major factors propelling the growth of the market are increasing mechanization, technological advancements, and growing demand for miniature motors. Moreover, the less cost of stepper motors, as compared to servo motors, is another major factor supporting their adoption, especially in developing countries.

the stepper motor market has been categorized into industrial machinery, medical equipment, packaging and labeling machinery, semiconductors, and others. Among these categories, industrial machinery contributed the largest share, of 37.2%, to the market in 2017.

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The motion control system market has become highly competitive owing to the increasing penetration of servo motors. The advent of the input/output (I/O) terminal, which is used as an amplifier for small stepper motors, has significantly contributed to the growth of the market for small-sized stepper motors. The integration of the I/O terminal offers operational advantages, such as reduced electrical cabinet space, reduced cost, and ease of use in applications with space constraints.

Advancements in integrated motion control systems, such as reduced cable volume, owing to the use of a single cable for motor control interference, and improved accuracy of hybrid stepper motors for closed-loop motion control applications, have also contributed to the growth of the stepper motor market in the last three-to-four years. The advent of low-cost microcontrollers and digital signal processor (DSP) based motor control systems has resulted in commercially successful motor control systems for closed-loop stepper motor control. Such technological advancements are expected to increase the growth of the market during the forecast period.

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The research shows that the structure of the stepper motor market is fragmented, with the presence of a large number of regional and international players, due to which the market is extremely competitive. Also, it is difficult for the regional players to challenge their international counterparts in terms of quality, functionality, features, and services.

Some of the major companies operating in the global stepper motor market are Nippon Pulse Motor Co. Ltd., Schneider Electric SE, ABB Ltd., Applied Motion Products Inc., Delta Electronics Inc., SANYO DENKI Co. Ltd., National Instruments Corporation, Nidec Motor Corporation, and Oriental Motor Co. Ltd.

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