Why Is Asia-Pacific (APAC) Largest and Fastest-Growing Stepper Motor Market?
Technological advancements in stepper motors, increasing preference for such miniature energy conversion devices, and quick growth in automation and robotics applications in factories are driving the demand for them. As a result, from $2.5 billion in 2019, the stepper motor market will experience a 3.4% CAGR during 2020–2030 (forecast period), to reach $3.7 billion in 2030. Unlike normal motors where the rotation of the shaft is continuous, stepper motors break the rotation into small steps, which allows for precise control of industrial machinery, such as conveyor belts.
Hybrid, variable reluctance, and permanent magnet are the categories of the stepper motor market on the basis of type. Among these, the largest share during the historical period (2014–2019) was held by the hybrid category, owing to such motors’ lower stepping rate, higher efficiency at low speeds, and higher torque than permanent-magnet and variable-reluctance variants. Other advantages of hybrid stepper motors are a more-rugged yet simpler construction, higher reliability, lower maintenance requirement, and no need for devices to control the velocity feedback or position.
The end use segment of the market is classified into medical equipment, industrial machinery, packaging & labeling machinery, consumer electronics, and others. Among these, the industrial machinery classification dominated the industry in 2019 due to the improving performance and easier integration of such motors into machines, on account of the technological enhancements in them. The medical category is projected to witness the fastest growth during the forecast period owing to the rising usage of stepper motors in drug delivery systems, power tools, blood analysis machinery, ventilation systems, and orthopedic devices.
Among the major trends in the stepper motor market is the usage of waterproof motors. Such devices resist corrosion, which increases their life in undersea exploration, industrial automation, oil exploration, and undersea mining applications. Additionally, hermetic-cable feedthrough O-rings, shaft seals, and pressure equalization systems prevent water-related problems, such as short circuits, in such stepper motors. As a result, the usage of waterproof stepper motors is rising in salvage robots, robotic submarines, automated undersea lights and cameras, and oil exploration equipment.
The strongest growth driver for the stepper motor market is the increasing demand for miniature variants of such devices. For position sensing and control applications in consumer electronic devices, miniature stepper motors are being designed. Other prominent applications of miniature stepper motors, which have a low power output, are electronic toys and games, digital cameras and lenses, computer peripherals, and industrial automation systems. In turn, the miniaturization of stepper motors has enabled the reduction in the size of hard disk drives to 6.35 centimeters from 20.32 centimeters.
Asia-Pacific (APAC) generated the highest revenue in the stepper motor market till 2019, and it will witness the fastest growth during the forecast period. This is attributed to the high industrial manufacturing and automotive production of China, Japan, South Korea, and India. Moreover, with the automation of the factories in this region, the demand for stepper motors continues to increase. Similarly, the growing population of these countries is driving the demand for food and beverages, medical devices, and consumer electronics, in turn, resulting in the surging requirement for stepper motors.
As a result, stepper motor market players are launching new products, merging with and acquiring other companies, augmenting their production output, entering newer geographies, and signing partnership and collaboration agreements. For instance, in March 2020, the smallest linear stepper motor of Nippon Pulse America Inc. was launched; it reduces the requirement for space in the machinery, and it is efficient and cost-effective. Similarly, in November 2019, the new technology solutions center of AMETEK France was established in Elancourt City, to expand its electronic and electromechanical instrument business in France.
Hence, with the growth of end-use industries, the demand for stepper motors will continue to escalate.
Read More: https://www.psmarketresearch.c....om/market-analysis/s
