The growing usage of miniature stepper motors in numerous electronic applications such as those requiring sensing and position control is the biggest factor driving the global demand for stepper motors. Miniature stepper motors are basically low-power stepper motors, built for functioning within the size constraints of many electronic devices. These motors are increasingly being used in digital cameras and lenses, electronic games and toys, computer peripherals, and industrial automation systems.
Apart from the ballooning demand for miniature stepper motors, the rapid progress of the robotics and automation industry is also fueling the sales of stepper motors across the globe. This is because of the rising requirement for industrial robotics solutions in manufacturing operations. Due to the various advantages of industrial robots such as their ability to be used as autonomous vehicles and the provision of on-floor personal assistance, they are increasingly being used in manufacturing plants.
Additionally, the adoption of industrial robots allows the streamlining of manufacturing operations and human resources and the smoothening of logistics and supply chain management. Moreover, these robots greatly improve the efficiency of production processes and reduce the overall manufacturing time. Due to these factors, the popularity of industrial robotics systems is rising rapidly all over the world. This is, in turn, pushing up the demand for stepper motors, which is subsequently causing the boom of the global stepper motor market.
As a result, the market valuation is predicted to rise from $2.5 billion to $3.7 billion from 2019 to 2030. Furthermore, the market is predicted to advance at a CAGR of 3.4% between 2020 and 2030. Depending on type, the stepper motor market is divided into variable-reluctance, permanent-magnet, and hybrid motors. Out of these, the hybrid category recorded the highest growth in the market in the past years and this trend is likely to continue in the coming years.
This would be a result of the several advantages of hybrid stepper motors over the other variants such as the ability to offer higher efficiency at lower speed, lower stepping rate, and greater torque. In addition to this, these motors have lower maintenance requirements and higher reliability, because of their rugged design, than the other motors. Because of these factors, these motors are being widely preferred for various industrial applications.
Globally, the stepper motor market registered the highest growth in Asia-Pacific (APAC) in the years gone by and this trend will continue in the upcoming years as well, as per the estimates of P&S Intelligence, a market research company based in India. The market advancement in this region would be driven by the increasing usage of stepper motors in motion control systems and the existence of leading automotive manufacturing companies in countries such as India, South Korea, Japan, and China.
Hence, it can be said without any hesitation that the sales of stepper motors would shoot-up all over the world in the forthcoming years, primarily because of the increasing usage of miniature stepper motors in various electronic applications and the growing adoption of industrial robotics solutions around the world.
