Oct 3, 2023

News Provided By Share This Article 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. 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.” — Knowledge Sourcing Intelligence NOIDA, UTTAR PRADESH, INDIA, October 3, 2023 / EINPresswire.com / -- According to a new study published by Knowledge Sourcing Intelligence, the stepper motor market is projected to grow at a CAGR of 4.34% between 2021 and 2028 to reach US$9.348 billion by 2028. A stepper motor is an electric motor that finds applicability in robots, CNC equipment, 3D printers , medical technology, automotive systems, and more. They are useful for applications that call for precision placement and control owing to their capacity to support discrete movement. Technological progress and the adoption of efficient industrial machinery have been driven by the rapid industrialization of developing countries. Industrial automation's emergence in major sectors such as manufacturing, logistics, and healthcare has hastened the installation of industrial robots which has supported the expansion of the stepper motor industry. According to the International Federation of Robotics. In 2022, 553,052 industrial robot installations occurred globally, which represents a 5% year-over-year increase over 2021. Moreover, as per the same source Asia accounted for 73% of all newly deployed robots globally, followed by Europe with 15% and the Americas with 10%. The market is witnessing multiple innovations. For instance, In January 2023, The brand-new P80630-SDN stepper drive was unveiled by Kollmorgen. It benefits from qualities like smoothness, accuracy, and torque over the whole speed range in a noticeably more compact form, allowing for smaller, lighter, and more adaptable machines. In May 2021, Sanyo Denki launched its brand-new NEMA 23 stepper motors which enhance the machine’s speed by providing best-in-class torque performance. The best-in-class torque performance and great efficiency of the new models increase machine speed and aid in energy conservation. Access sample report or view details: https://www.knowledge-sourcing.com/report/stepper-motors-market The stepper motor market based on the technology, is divided into two segments, which include permanent magnet stepper, and hybrid synchronous stepper. The stepper motor market based on type, is segmented into three main categories namely rotary stepper motors, fully-enclosed stepper drives, and integrated lead screw stepper motors. Based on the end user, the market is divided into, manufacturing, healthcare, electrical and electronics, and Others. The stepper motor market is dominated by North America. The presence of advanced robotics, computing, and industrial and medical equipment is anticipated to be among the key factors boosting the market in this area. Major North American economies namely the United States and Canada are witnessing investments to bolster robotics warehousing. For instance, in December 2020, the Canadian government announced investments of $34 million in Alberta-based robotics supply chain firm Attabotics Inc. to expand the latter’s robotics warehouse technologies. As part of the competitive intelligence section of the study, the major players operating in the stepper motor market have been covered and analyzed. These include Nippon Pulse America, Inc., AMETEK Inc., ORIENTAL MOTORS USA CORP, Nidec Corporation, MinebeaMitsumi Inc., and Nanotec Electronic GmbH & Co. KG among other significant market players. The market analytics report segments the stepper motor market as follows: • By Technology