The stepper motor market was valued at US$ 1,992.8 million in 2019 and it is expected to grow at a CAGR of 4.85% from 2020 to 2027.
Stepper motor is a highly versatile machine predominantly used in diversified industries—such as semiconductor, packaging and labeling, medical equipment, industrial machineries, and food & beverages—for performing many linear manufacturing processes repeatability, with high torque at low speeds, as well as minimal maintenance. Some of the linear manufacturing processes applications are rail positioning, conveyers, and X-Y tables. The continuous growth of the automation and robotics industry is boosting the demand for stepper motors, which can be fitted in limited spaces. The motors manufactures are constantly increasing their focus on optimizing the design as well as manufacturing processes so as to deliver superior products with enhanced efficiency. Additionally, the streamlined manufacturing process, as well as the upgraded model of the stepper motors with miniaturization, boosted the adoption of stepper motor across various applications such as robotics, automobile, and semiconductor industries. All these industries demand high torque speed, high precision, and better efficiency. Moreover, the stepper motor market is endorsing tremendous growth attributed to the upsurge in automobile production globally, as well as the demand for motors integrated into a particular vehicle. Further, the integration of smart and advanced technology into the stepper motors is projected to be a trend offering ample growth opportunities to the manufacturers; thus, it is expected to have a positive impact on the stepper motor market in the coming years.
Asia-Pacific accounts for the largest share of the global stepper motor market. East Asia, which includes Mainland China, South Korea, Japan, and Taiwan, has the presence of the world’s most significant semiconductor players. The region has become a hub for the semiconductors industry. China, particularly, holds nearly half of global stepper motor market value, divided ~50–50 between domestic demand as well as Taiwan-based, ODMs or foundries, serving global clients. China also aims to establish a self-sufficient semiconductors industry as well as ascent to become a world powerhouse at the same time. Japan is a prominent supplier of semiconductor materials, special semiconductors, and high-end equipment. Thus, the presence of the well-established semiconductors industry is expected to boost the demand for stepper motor in the region.
Impact of COVID-19 Pandemic on Stepper Motor Market
COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread across the globe at a rapid pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among countries that have been the worst affected by this pandemic, in terms confirmed cases and reported deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The overall stepper motormarket breakdown due to COVID-19 is also affecting the growth of the stepper motor market due to shutting down of factories, discontinuation of supply chain, and downturn in the world economy.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.
Lucrative Regions for Stepper Motor Market
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Market Insights
Growing Adoption of Robotics and Automation in Diverse Industries
Various industries across the globe are implementing some automation or robotics intending to become safer and more efficient. The deployment of industrial robots in diverse industries has been increased rapidly. According to the World Robotics 2019 Industrial Robots report published by the International Federation of Robotics, the robot installations globally increased by 6% to 422,271 units in 2018. Almost every industry from automotive to consumer electronics to metal and machinery have deployed industrial robots in their manufacturing facilities.In this age of industrial automation, robots are extensively used for managing several processes for better production quality. Also, robots are being implemented in hazardous working locations, where human life can be at risk. Stepper motors are of paramount importance in robotics as they require precise movements.
Type-Based MarketInsights
The stepper motormarket, based on type,has been segmented into integrated lead screw stepper motor, rotary stepper motor, and fullyenclosed stepper drives. The rotary stepper motorsegment accounted for the largest share of the market in 2019; the market for the integrated lead screw stepper motor segmentis expected to grow at the highest CAGR during the forecast period. These motors usually offer high torque, high efficiency, and high precision, which is needed by the designers to fit the application. These lead screw motors are a combination of sizes, styles, lead screws, and nuts that offer freedom to use these motors with different form factors to precisely fit across various applications, such as semiconductor industries and industrial machinery.
Stepper Motor Market, by Type– 2018 and 2027
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Technology-Based MarketInsights
The stepper motormarket, based on technology,is segmentedinto permanent magnet stepper motor, hybrid stepper motor, and variable reluctance stepper motor.In 2018, the hybrid steppersegment accounted for the largest share ofthe market, whereas the permanent magnet stepper motorsegment is expected to register the fastest CAGR during the forecast period. Permanent magnet stepper motor consists of an axially magnetized permanent magnet rotor that comprises alternating north and south poles placed parallel to the rotor shaft. The permanent magnet stepper motors are also known as “tin can” or “can stack” motors as their stators are integrated with two coils of soft iron housings/cans; that has teeth on the inner side, which easily and efficiently interact with the rotors.
EndUser-Based MarketInsights
The stepper motor market, based on enduser,is segmented into semiconductor, packaging and labeling, medical equipment, industrial machineries, and others.In 2018, the semiconductor segment dominated the global stepper motor market, whereas the packaging and labelling segment is expected to register the highest CAGR during 2019–2027. In the packaging and labeling industry, the manufacturers have to ensure high quality of operations to attract the customer toward the products. Stepper motors play a crucial role in the industry as they are used in labeling heads, rotary labeling machines, hot melt labelling machines, flow pack molding systems, carousel management systems, bottling systems, packaging machines, palletization systems, and thermoforming systems.
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Stepper Motor Market: Strategic Insights
Market Size Value in US$ 1,992.8Million in 2019 Market Size Value by US$ 2,803.6Million by 2027 Growth rate CAGR of 4.85% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Stepper Motor Market: Strategic Insights
| Market Size Value in | US$ 1,992.8Million in 2019 |
| Market Size Value by | US$ 2,803.6Million by 2027 |
| Growth rate | CAGR of 4.85% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Product developmentis the commonly adopted strategies by companies to expand their product portfolio. Delta Electronics Inc., Faulhaber Group, National Instruments Corporation, and Nippon Pulse Motor Co. Ltd. are among the market players implementing this strategyto enlarge the customer base and gain significant market share globally, which, in turn, permits them maintain their brand name in the global stepper motor market.
Stepper Motor Market Segmentation:
By Type
- Integrated Lead Screw Stepper Motor
- Rotary Stepper Motor
- FullyEnclosed Stepper Drives
By Technology
- Permanent Magnet Stepper Motor
- Hybrid Stepper Motor
- Variable Reluctance Stepper Motor
By EndUser
- Semiconductor
- Packaging and Labeling
- Medical Equipment
- Industrial Machineries
- Others
Company Profiles
- 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.
- Schneider Electric SE
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Technology
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The APAC region led the stepper motor market in 2019. The regrets become a hub for the semiconductors industry. China, particularly, holds nearly half of global market value, divided ~50-50 between domestic demand as well as Taiwan-based, ODMs or foundries, serving global clients. China also aims to establish a self-sufficient semiconductors industry as well as the ascent to become a world powerhouse at the same time. Japan is a prominent supplier of semiconductor materials, special semiconductors, and high-end equipment. Thus, the presence of the well-established semiconductors industry is expected to boost the demand for stepper motor in the region.
The increasing demand for stepper motor in medical devices is supporting the growth of the stepper motor market. 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, for instance, 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.
The semiconductor segment led the stepper motors market with a significant market share. Stepper motor is widely used in the semiconductors industry as they help the semiconductor original equipment manufacturers (OEMs), as well as electronic device manufacturers, optimize equipment to provide efficient productivity and performance. Several semiconductor & electronics manufacturing applications where stepper motors are deployed, namely electronic device manufacturing, semiconductor wafer processing and handling, semiconductor testing and packaging, and many more.
The List of Companies - Stepper Motor Market
- ABB Ltd
- Applied Motion Products, Inc.
- Delta Electronics
- FAULHABER Group
- National Instruments Corporation
- Nidec Corporation
- Nippon Pulse Motor Co. Ltd
- Oriental Motor USA Corp
- SANYO DENKI CO., LTD
- Schneider Electric SE
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