Stepper Motor Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023

The increasing usage of miniature steppers in numerous electronic applications is one of the biggest factors boosting the demand for stepper motors across the world. In the electronics industry, where size is a constraint, these miniature motors are increasingly being preferred since the last few years. In addition to this, the burgeoning demand for miniature motors for electronic games and toys, digital cameras and lenses, computer peripherals, automobile electronics, and industrial automation systems is expected to further push the demand for such instruments across the globe.

Company Profile:

1. Nippon Pulse Motor Co. Ltd.
2. Schneider Electric SE
3. ABB Ltd.
4. Applied Motion Products Inc.
5. Delta Electronics Inc.
6. SANYO DENKI CO. LTD.

Due to the above-mentioned factors, the global stepper motor market generated revenue of $1.9 billion in 2017. The market is additionally expected to reach a value of $2.5 billion by 2023, exhibiting a CAGR of 4.6% during the forecast period (2018–2023). Such a device breaks the rotation motion into smaller sections. There are three types of stepper motors available in the market, namely fully enclosed, rotary, and integrated-lead-screw stepper motors. Amongst these, rotary stepper motors, owing to the soaring demand for hybrid-technology-based rotary motors, recorded the highest usage in 2017.

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GLOBAL STEPPER MOTOR MARKET

By Type
Rotary Stepper Motors
Fully Enclosed Stepper Motors
Integrated Lead Screw Stepper Motors

By Technology
Permanent Magnet
Hybrid
Variable Reluctance

By Motion Control
Closed Loop
Open Loop

By End-Use
Industrial Machinery
Medical Equipment
Packaging and Labeling Machinery
Semiconductors
Others (Telecommunications, Textiles, 3D Printing, and Robotics)

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Globally, the Asia-Pacific (APAC) region is expected to witness the fastest growth in the demand for stepper motors during the forecast period. The rising consumption of ready-to-eat and processed food, especially in the urban areas, is contributing significantly toward the growth of the packaging and labeling industry, which will, in turn, boost the demand for stepper motors in the region. APAC also registered the highest usage of these energy-conversion devices in the world in 2017, mainly due to their increased utilization in motion control systems in China and Japan.

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Therefore, it can be concluded that due to the burgeoning usage of miniature motors in a plethora of electronics applications and rising adoption of stepper motors in the packaging and labeling industry across the world, the demand for this equipment will boom in the coming years.

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This release was published on openPR.