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The integrated stepper motor market size is estimated to grow by USD 53.22 million at a CAGR of 7.14% between 2023 and 2028. Market expansion relies on various factors, including the heightened demand for automated equipment in industrial settings, increasing requests for motors exhibiting high energy efficiency at lower speeds, and the imperative to guarantee uninterrupted industrial operations. These elements collectively propel market growth, reflecting advancements in industrial automation and efficiency. The surge in demand for automated equipment underscores the drive towards enhancing productivity and streamlining processes in industrial environments. Simultaneously, the growing preference for motors with high energy efficiency at lower speeds signifies the industry's focus on sustainability and cost-effectiveness. Additionally, the need to ensure uninterrupted industrial operations highlights the critical importance of reliability and resilience in maintaining production continuity. Thus, the interplay of these factors delineates the landscape for the anticipated expansion of the market catering to industrial automation and motor technologies. Our report examines historic data from 2018 to 2022, besides analyzing the current market scenario. It also includes an in-depth analysis of drivers, trends, and challenges.
Market Forecast 2023-2027
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This report extensively covers market segmentation by end-user (process industries and discrete industries), type (NEMA17 and NEMA23), and geography (Europe, North America, APAC, Middle East and Africa, and South America).
The market share growth of the process industries segment will be significant during the forecast period. Process industries include verticals like energy and power, water and wastewater, and oil and gas, among others. The global power industry is expected to experience positive growth during the forecast period, owing to the increasing demand for energy, ongoing investments in new power plants, and the continuous flow of investments into upgrading existing electricity grids. Factors such as the increasing global demand for electricity, rising urbanization, and the increasing use of electronic appliances have resulted in a surge in demand for electricity.
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The process industries segment was valued at USD 68.80 million in 2018. The rising demand for green energy production has been encouraging players in the power industry to pump investments into renewable energy. Many players in this industry are diversifying to renewable sources for energy production, which, in turn, is attracting major investments and leading to the restructuring of power plants. The restructuring of power plants and the establishment of new ones are expected to increase the demand for advanced industrial machinery. Therefore, many types of automation equipment use integrated stepper motors to ensure optimum performance, an increase in demand for equipment will drive the demand for integrated stepper motors, thus fueling the growth of the market in focus in this segment during the forecast period.
Based on type, the market has been segmented into nema17 and nema23. The nema17 segment will account for the largest share of this segment.? NEMA17 integrated stepper motors are a popular choice in the world of motion control and automation and are known for their compact size and precise control capabilities. In addition, several companies offer NEMA17 integrated stepper motors to cater to the diverse needs of these industries. For instance, Oriental Motor Co. Ltd and Changzhou Fulling Motor Co. Ltd offer a variety of stepper motor solutions tailored to meet the unique requirements of different end-user industries. These can be integrated into industrial automation equipment, laboratory instruments, and more. Thus, the growing use of NEMA17 integrated stepper motors for different applications will drive the growth of this segment of the market during the forecast period.
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Europe is estimated to contribute 46% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Germany, Russia, the UK, and France are some of the largest industrial hubs in Europe. Oil and gas fields in European countries are reaching maturity, and production from such fields is declining. As a result, the dependence of European countries on oil imports continues to rise. Many countries, therefore, have increased their oil and gas E and P activities to reduce their dependence on imports. Governments in the region are taking several initiatives to ensure energy security. The region is also witnessing the development of and transition to 5G technology.
Furthermore, Europe is a key region in the production of aerospace and defense components. Russia is one of the largest military spenders in the region, and the country continues to support defense equipment production in Europe. Airbus SE is a prominent aircraft manufacturer in the region. Increasing spending in industrial automation is simultaneously spurring spending on components like integrated stepper motors, which is boosting the growth of the market in the region during the forecast period.
The market is integral to various industries, from packaging machinery to experimental apparatus and semiconductor equipment. Utilizing advanced technologies like IoT and automation systems, integrated stepper motors play a crucial role in smart city projects and industrial premises, ensuring seamless operations and precise control. With Ace matrix facilitating vendor analysis, businesses can make informed decisions regarding motor selection. Innovations in synthesis enable efficient integration of electric motors with 3D printers, CNC machines, and robotics, optimizing performance and enhancing productivity. The market offers a variety of motors, including bipolar stepper motors and unipolar stepper motors, allowing for precise control of rotation angle and electrical pulses, surpassing the capabilities of conventional motors and driving advancements in automation across various sectors. The driver circuit plays a crucial role in CNC machine tool application and printing equipment application, ensuring precise control and efficient operation of these sophisticated machinery Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The need for manual labour in many processes across industries is declining with growing competition across industries and the rapidly rising adoption of industrial robots. While this offers significant cost savings to industry players, it also increases the reliance of these players, in both discrete and process industries, on machines. The growing reliance on machinery has also led to a rise in downtime-related costs for industry players. Downtime can get extended if any component of the machinery stops working, and its replacement is time-consuming. The replacement of conventional stepper motors without integrated drives is more complex and time-consuming when compared to integrated stepper motors.
Moreover, complexities associated with the wiring, delays associated with finding compatible drives for stepper motors, and the time-consuming setup process make conventional stepper motors (without integrated drives) less suitable for applications in some industrial environments. As ensuring uninterrupted industrial operations is one of the key ways of saving costs, the demand for integrated stepper motors will increase, which, in turn, will augment the growth of the market in focus during the forecast period.
Industries are generally characterized by bulky products owing to the high power consumption in industrial activities. However, over the years, the miniaturization of industrial products has gained prominence as a trend. Manufacturers are increasingly demanding products that are small enough to be easily installed and uninstalled. The demand for miniaturized and compact motors with the growing need for and deployment of robotic and automation technologies, which can fit in confined spaces without affecting motor performance, has also increased. Miniaturization supports their deployment in small industrial machines and robots in confined spaces.
Moreover, this is expected to favour the growth of the market, as integrated stepper motors help in solving the problem of space utilization in applications where there is a need for small motors with high power and torque. Hence, in the future, miniaturized integrated stepper may be used in a wider range of applications where small and compact motors with high torque, high precision, and superior efficiency are required. This will support the growth of the market in focus over the forecast period.
Due to the ongoing trade war between the US and China, the global semiconductor and electronics industry, along with some other industry verticals, has been significantly impacted. The US and China are two of the strongest economies in the world, and disruptions in businesses in these countries are being felt by many other countries worldwide. The imposition of steep tariffs on many goods and services has been making it difficult for business owners to operate in these countries. As electric motors, which are used in industrial machinery, have also been witnessing an increase in tariffs, it has led to a rise in their average selling price, which has been increasing the final price of the products in which these components are used.
In addition, the imposition of steep tariffs on the import of integrated stepper motors from China by the US government has led to disruptions across the entire supply chain. This is adversely affecting revenue generation for many companies in the market in focus, which can become a major challenge for the growth of the market in focus during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB Ltd. - The company offers integrated stepper motors such as the DSMS series, with advanced second-generation current control for exceptional performance, smoothness quiet operation.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
ABB Ltd., ACT Motor Co. Ltd., Advanced Micro Controls Inc., Anaheim Automation Inc., Arcus Servo Motion Inc., Beckhoff Automation GmbH and Co. KG, Changzhou Fulling Motor Co. Ltd., Danaher Corp., DMI Technology Corp., FAULHABER GROUP, Japan Pulse Motor Co. Ltd., Leadshine Technology Co. Ltd., MinebeaMitsumi Inc., Nanotec Electronic GmbH and Co. KG, Oriental Motor Co. Ltd., Panasonic Holdings Corp., Parker Hannifin Corp., Schneider Electric SE, Shanghai MOONS Electric Co. Ltd., and TAMAGAWA SEIKI Co. Ltd.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
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In the market, promotions play a vital role in showcasing the benefits of these motors, ensuring businesses have access to reliable data for informed decisions. With a focus on providing accurate market growth projections, integrated stepper motors are essential components in various applications, from electric motor systems to CNC Machine Tool, Industrial Automation application, Industrial Automation systems and Office Automation application. Utilizing advanced driver circuits and open-loop control, these motors offer precise control in diverse settings. Options like variable-reluctance and permanent magnet motors cater to specific needs, while hybrid stepper motors bridge the gap between different applications. From printing equipment to medical devices such as infusion pumps and imaging equipment, these motors leverage microcontroller capabilities and sophisticated control algorithms for optimal performance. Additionally, integration with servo motors further enhances automation processes across industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.14% |
Market Growth 2024-2028 |
USD 53.22 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.49 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 46% |
Key countries |
US, China, Japan, Germany, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., ACT Motor Co. Ltd., Advanced Micro Controls Inc., Anaheim Automation Inc., Arcus Servo Motion Inc., Beckhoff Automation GmbH and Co. KG, Changzhou Fulling Motor Co. Ltd., Danaher Corp., DMI Technology Corp., FAULHABER GROUP, Japan Pulse Motor Co. Ltd., Leadshine Technology Co. Ltd., MinebeaMitsumi Inc., Nanotec Electronic GmbH and Co. KG, Oriental Motor Co. Ltd., Panasonic Holdings Corp., Parker Hannifin Corp., Schneider Electric SE, Shanghai MOONS Electric Co. Ltd., and TAMAGAWA SEIKI Co. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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