• Sat. Jul 31st, 2021

As per a report by P&S Intelligence, the global stepper motor market is predicted to attain a value of $3.7 billion in 2030, progressing at a 3.4% CAGR during the forecast period (2020–2030). The market is registering growth due to the rising demand for miniature stepper motor and ongoing technological advancements in the domain. On the basis of end user, the market is divided into packaging and labeling machinery, medical equipment, industrial machinery, and consumer electronics.

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This market research report provides a comprehensive overview of the stepper motor market

  • Historical and the present size of the stepper motor market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential

Among all these, the industrial machinery division accounted for the largest revenue share of the stepper motor market in 2019, which is due to the growing utilization of stepper motors for several industrial automation applications. Technological advancements such as easier component integration are resulting in the improvement of the performance of these devices, and are thus, making them a popular choice.

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Definition of Stepper Motor Market Segments

By Type Permanent magnet Variable reluctance Hybrid

By Motion Control Closed loop Open loop

By End Use Industrial machinery Medical equipment Packaging & labeling machinery Consumer electronics