Stepper Motors Market - Forecasts from 2023 to 2028

The stepper motor market is estimated to grow at a CAGR of 4.34%, reaching US$9.348 billion in 2028 from US$6.944 billion in 2021.Stepper motors are used in a variety of applications, such as the robotics, and semiconductor sectors, which demand high precision, high torque speed, and better efficiency due to their superior design and simplified production process. In addition. Further, stepper motors are also finding their way into medical applications such as X-ray machines and blood analyzers. Favorable investments in medical & healthcare coupled with initiatives to bolster technological adoption and improve medical infrastructure are expected to provide a positive outlook to the market demand for stepper motors, thereby augmenting the overall market growth.

Rapid Industrialization

Rapid industrialization in developing nations has accelerated technological advancement and the uptake of effective industrial machinery. The National Bureau of Statistics of China estimates that, compared to 2020, China's industrial production rose by roughly 3.6% in 2021. By 2025, China hopes to increase its annual production of automobiles from 22.3 million in 2018 to 35 million. The number of manufacturing facilities in the nation is anticipated to rise quickly as a result of recent tax advantages and the "Made in China 2025" strategy.

Industrial Automation

The stepper motor market growth has been fueled by the advent of industrial automation, which has accelerated industrial robotics installation. For instance, according to IFR predictions, industrial robot installation climbed from 391,000 in 2019 to 517,000 in 2021. As per the same source, by 2024, there will be 70,000 industrial robot deployments in Asia and Australia. The demand for stepper motors is witnessing growth along with the growing robotics installation and automation in industries.

North America is Expected to Witness Robust Growth during the Forecast Period

The bolstering growth for stepper motors is fueled by the upward trajectory of industrial automation, coupled with ongoing technological advancements. The annual installations of industrial robots in the USA, as indicated by the provided data from 2018 to 2021, highlight potential opportunities for the growth of the stepper motors market. With consistent demand for industrial robots in this period-ranging from 31 thousand units in 2020 to 40 thousand units in 2018-the need for accompanying motion control technologies, such as stepper motors, is evident. This data underscores the parallel growth potential for the stepper motors market, as the increasing adoption of industrial robots signifies a continuous requirement for precise and reliable motion control solutions, positioning the stepper motors sector for expansion and innovation.

Major Market Player

• Oriental Motors USA Corp provides a wide range of stepper motor products, namely "2-Phase & 5-Phase Stepper Motor" and "AlphaStep Closed Loop Stepper Motor". It focuses on improving its product offerings to offer more varieties owing to which it has been following a constant trend of product innovation and expansion.

Market Developments:

• Intelligent Automation expanded its selection of two-phase stepper motors in August 2022. The Sanmotion series' NEMA 23 stepper motors significantly outperform earlier motor generations in terms of torque performance, which leads to faster machine speeds by cutting down on positioning and machine cycle times
• In 2022, MicroMo announced the launch of its new line of high-performance stepper motors for robotics and automation applications.
• In February 2023, Portescap launched its new line of miniature stepper motors for medical device applications at the Medical Design & Manufacturing (MD&M) West trade show in Anaheim, California. The new motors are designed to be small, lightweight, and highly efficient, making them ideal for medical devices such as MRI machines and CT scanners.
• In August 2020, Oriental Motors USA Corp expanded the production line up of its bipolar "PKP 2 phase stepper motor," which witnessed further expansion in September 2021.

Market Segmentation:

By Technology

• Permanent Magnet Stepper
• Hybrid Synchronous Stepper

By Type

• Rotary Stepper Motors
• Fully-Enclosed Stepper Drives
• Integrated Lead Screw Stepper Motors

By End-User

• Manufacturing
• Healthcare
• Electrical and Electronics
• Others

By Geography

• North America

By Technology

By Type

By End-User

By Country

• United States
• Canada
• Mexico
• South America

By Technology

By Type

By End-User

By Country

• Brazil
• Argentina
• Others
• Europe

By Technology

By Type

By End-User

By Country

• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa

By Technology

By Type

By End-User

By Country

• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific

By Technology

By Type

By End-User

By Country

• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others