Stepper Motor Market is expected to reach US$ 2,803.6 Million by 2027

The stepper motor market size is expected to reach US$ 2,803.6 million by 2027 and registering at a CAGR of 4.85% from 2020 to 2027, according to a new research study conducted by The Insight Partners.

Rising Applications of Stepper Motors in Medical Field to Propel Stepper Market Growth at 4.85% CAGR during 2020–2027

The report highlights key factors driving the market growth, and prominent players and their developments in the market.

Motors form an essential component of medical equipment. Presently, stepper motors are one of the most common motor types used in medical analyzers. Further, there is an increasing demand for stepper motors in X-ray machines, ultrasound scanners, IV pumps, as well as blood analyzers. Recent technological developments in the healthcare industry, e.g., oxygen concentrators, use stepper motors in fans for cooling. The compact size and low noise of stepper motors make it an ideal choice for medical applications. Additionally, hybrid stepper motors are an appropriate choice for applications that require low-cost along with a fine resolution of shaft movements, such as in peristaltic pumps and medical syringe.

Stepper Motor Market Breakdown - By Region, 2019

The rising demand for medical devices worldwide owing to the increasing number of patients and governments efforts to enhance healthcare infrastructure is, in turn, propelling the growth of the stepper motors market. Additionally, the 3D printing technology illustrates a huge opportunity to assist medical companies in empowering a rapid production of medical implants, as well as transforming the way of planning procedures by surgeons and doctors. Moreover, 3D-printed anatomical models are becoming gradually more useful tools in the current practice of precision medicine as well as for personalized treatments. In the coming years, 3D-printed implantable organs will possibly be available, thereby minimizing the waiting lists and scaling up the number of lives saved. Also, additive manufacturing for the healthcare industry is still, to a great extent, an ongoing process; however, it has already been applied in several different techniques in the medical field. The developments in the medical field have resulted in increased applications of stepper motors, thus propelling its demand.

Furthermore, small stepper motors are expected to witness continuous adoption in several applications, including robotic handling, medical devices, 3D printing, and industrial motion designs. Further, in hybrid stepper motor category, the latest trends include the addition of a linear screw as well as nut on this shaft for providing a complete linear-motion solution. It makes these motors a more ready-to-go solution for customers. Other technological advancements include surge in double-shafted stepper motors and steppers with gearboxes. Also, a development of closed-loop systems is noticed making stepper motors full-fledged servos.

The market for stepper motor is highly fragmented with the presence of several well-recognized and local players. A few key players profiled in the report include ABB Ltd., Applied Motion Products Inc., Delta Electronics Inc., Faulhaber Group, National Instruments Corporation, Nidec Corporation, Nippon Pulse Motor Co. Ltd., Oriental Motor Co. Ltd., Sanyo Denki Co. Ltd., and Schneider Electric SE. In addition, several other prominent players operating in the stepper motor ecosystem were studied and analyzed during the course of this market research study.

COVID-19 IMPACT

While there are diverse viewpoints on the damage, which COVID-19 may cause, the fact remains that COVID-19 is spreading worldwide. New cases are rising in locations such as the US, Canada, Europe, Africa, the Middle East, India, Australia, South Korea, India, and Japan. Though the complete impact of COVID-19 is still unidentified, the impact across the electronics value chain will probably be far-reaching and strongly affecting parties involved with semiconductor manufacturing. COVID-19 is underlining the possible risks and vulnerability of present electronics and semiconductor value chain model as well as challenging the semiconductor industry to consider altering its global supply chain model.

The report segments the global stepper motor market as follows:

By Type

• Integrated Lead Screw Stepper Motor
• Rotary Stepper Motor
• Fully Enclosed Stepper Drives

By Technology

• Permanent Magnet Stepper Motor
• Hybrid Stepper Motor
• Variable Reluctance Stepper Motor

By End User

• Semiconductor
• Packaging and Labeling
• Medical Equipment
• Industrial Machineries
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of APAC
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM