Request FREE sample PDF
Pharmacy benefit management market
STEPPER MOTOR MARKET REPORT OVERVIEW
The global stepper motor market size was USD 2003.1 million in 2019 and the market is projected to touch USD 2272.8 million by 2026, exhibiting a CAGR of 1.8% during the forecast period.
A stepper motor is a type of electric motor that converts electrical pulses into discrete mechanical movements. Unlike conventional motors that continuously rotate, stepper motors move in steps or increments, allowing for precise control of position and speed. Stepper motors are widely used in various applications, including robotics, 3D printers, CNC machines, and automation systems.
One key characteristic of stepper motors is their ability to move in discrete steps, with each step representing a fixed angle of rotation. This characteristic makes them well-suited for applications that require precise positioning, as the rotation angle is determined by the number of steps and the motor's design. Stepper motors come in various types, such as bipolar and unipolar, each with its own advantages and drawbacks.
The operation of a stepper motor is controlled by a series of electrical pulses generated by a driver circuit. The number of pulses sent to the motor corresponds to the number of steps it will rotate. Stepper motors offer open-loop control, meaning that the controller assumes the motor has moved the desired amount, without directly measuring the motor's actual position. This simplicity, combined with their ability to provide precise control, makes stepper motors popular in applications where accuracy and simplicity are essential.
COVID-19 Impact: Market Growth Hampered by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The pandemic led to disruptions in global supply chains due to lockdowns, restrictions on movement, and factory closures. This could have affected the production of stepper motors and related components, leading to delays and shortages. Many industries that use stepper motors, such as automotive, manufacturing, and aerospace, experienced slowdowns or temporary shutdowns during the pandemic. This decline in industrial activities could have resulted in reduced demand for stepper motors.
Economic uncertainties resulting from the pandemic could have influenced capital expenditure decisions. Companies might have delayed or reevaluated their investments in new machinery and equipment, affecting the demand for stepper motors. The global stepper motor market growth is anticipated to boost following the pandemic.
LATEST TRENDS
"Advancements in Motor Control Technologies to Drive Market Growth"
Ongoing developments in motor control technologies have led to improved precision, efficiency, and reliability in stepper motor systems. Integrated circuits and control algorithms have evolved to enhance the performance of stepper motors in different applications. Stepper motors continue to play a crucial role in various automation applications. The growing trend of industrial automation, including robotics, CNC machines, and automated manufacturing processes, has contributed to the increased demand for stepper motors.
The market has seen a trend toward customizable and modular stepper motor designs. Manufacturers are offering more flexible solutions that can be tailored to specific applications, allowing for easier integration into diverse systems.
STEPPER MOTOR MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into Variable-reluctance (VR), Permanent Magnet (PM) and Hybrid (HB).
VR stepper motors operate based on the principle of varying magnetic reluctance. These motors have a rotor with teeth, and as the stator windings are energized sequentially, the rotor aligns itself with the magnetic field, causing it to step.
PM stepper motors have a rotor with permanent magnets and a stator with windings. When the stator windings are energized, they create a magnetic field that interacts with the permanent magnets, causing the rotor to align and step.
Hybrid stepper motors combine elements of both VR and PM stepper motors. They have a rotor with permanent magnets and teeth, and the stator has both VR and PM characteristics. This combination allows for improved performance.
- By Application
Based on application the global market can be categorized into CNC Machine Tool, Industrial Automation, Office Automation, Printing Equipment and Other.
Stepper motors are commonly employed in CNC machines for precise control of movement along different axes. They play a crucial role in driving the motion of the tool and workpiece, ensuring accurate and repeatable machining operations.
Stepper motors are integral components in various industrial automation applications, such as conveyor systems, packaging machines, robotic arms, and material handling systems. They provide precise control over the movement of components in these automated processes.
Office automation refers to the use of computer systems and software to streamline and automate routine office tasks and workflows. This includes activities such as document processing, communication, and data management.
Printing equipment encompasses a range of devices used for producing printed materials, including printers, scanners, and photocopiers. These devices may be used in various settings, including homes, offices, and commercial printing facilities.
DRIVING FACTORS
"Increasing Automation Across Industries to Boost the Market"
Stepper motors play a crucial role in automation processes. As industries continue to embrace automation for enhanced efficiency and precision, the demand for stepper motors in applications such as robotics, CNC machines, and industrial automation systems has been on the rise. Stepper motors are widely used in medical devices such as infusion pumps, imaging equipment, and diagnostic instruments. The growing healthcare industry and increasing demand for medical devices contribute to the expansion of the stepper motor market.
"Advancements in Motor Control Technologies to Expand the Market"
Continuous advancements in motor control technologies, including improvements in microcontroller capabilities and control algorithms, have enhanced the performance and reliability of stepper motors. These technological advancements make stepper motors more attractive for various applications. The integration of stepper motors with the Internet of Things (IoT) and Industry 4.0 initiatives is becoming more prevalent. This connectivity allows for remote monitoring, predictive maintenance, and overall optimization of stepper motor systems.
RESTRAINING FACTOR
"Competition from Alternative Motor Technologies to Potentially Impede Market Growth"
Stepper motors face competition from alternative motor technologies, such as servo motors and brushless DC motors, which may offer different performance characteristics. Depending on the specific requirements of an application, end-users may choose alternative solutions over stepper motors. While stepper motors provide precise control over position and speed, their control systems can become complex in certain applications. Implementing advanced control algorithms or dealing with resonance issues may pose challenges for users, especially those without significant expertise in motor control.
STEPPER MOTOR MARKET REGIONAL INSIGHTS
"Asia Pacific Dominating the Market with Industrial Automation Growth"
The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
Asia Pacific has emerged as the most dominant region in the global stepper motor market share due to several factors. The Asia-Pacific region, and China in particular, is a global manufacturing hub. The presence of a large and diverse manufacturing sector, including electronics, automotive, and machinery, contributes significantly to the demand for motion control components like stepper motors. The rapid growth of industrial automation in Asia-Pacific has driven the demand for stepper motors. Industries such as automotive manufacturing, electronics, and consumer goods production have increasingly adopted automation technologies, creating a substantial market for stepper motors.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Shinano Kenshi [Japan]
- Minebea [Japan]
- Nippon Pulse Motor [Japan]
- Haydon Kerk Motion Solutions [U.S.]
- Oriental Motor [Japan]
INDUSTRIAL DEVELOPMENT
January 2021: Nippon Pulse Motor Co., Ltd. is a Japanese company specializing in the development and manufacturing of precision motion control equipment. As a leading manufacturer of stepper motors, Nippon Pulse Motor provides a range of motor solutions designed for various applications, including robotics, semiconductor manufacturing, medical devices, and more. The company is known for its commitment to innovation, product quality, and providing customized solutions to meet the diverse needs of the automation and motion control industry.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 2003.1 Million in 2019 |
Market Size Value By |
US$ 2272.8 Million by 2026 |
Growth Rate |
CAGR of 1.8% from 2019 to 2026 |
Forecast Period |
2022-2026 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
-
What value is the stepper motor market expected to touch by 2026?
The global stepper motor market is expected to reach USD 2272.8 million by 2026.
-
What CAGR is the stepper motor market expected to exhibit by 2026?
The stepper motor market is expected to exhibit a CAGR of 1.8% by 2026.
-
Which are the driving factors of the stepper motor market?
Versatility & Wide Applications and Rise in DIY Culture to Expand are some of the driving factors of the stepper motor market.
-
What are the stepper motor market segments?
The stepper motor market segmentation that you should be aware of, which include, based on type the stepper motor market is classified as Variable-reluctance (VR), Permanent Magnet (PM) and Hybrid (HB). Based on application the stepper motor market is classified as CNC Machine Tool, Industrial Automation, Office Automation, Printing Equipment and Other.