Stepper Motors Market Size Worth $4.67 Billion by 2032 | CAGR: 4.6%

The global stepper motors market size is expected to reach USD 4.67 billion by 2032, according to a new study by Polaris Market Research. The report “Stepper Motors Market Share, Size, Trends, Industry Analysis Report, By Type (Permanent Magnet, Variable Reluctance), By Motion Control (Closed Loop, Open Loop), By Application, By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Packaging and labeling industry's increasing need for automation solutions is projected to be a key driver for the growth of the market in the foreseeable future. Additionally, the market is expected to benefit from the rising demand for industrial automation, particularly in applications where high-speed operations require reduced heat and noise generation. These factors present promising prospects for manufacturers in the industry throughout the study period.

Various types of stepper motors are available, including permanent magnet, hybrid, and variable reluctance. Among these, the variable reluctance type stands out due to its remarkable accuracy. By turning at a precise angle to minimize reluctance between opposite windings in the stator, it achieves high levels of precision. As a result of this exceptional accuracy, the demand for variable reluctance motors is continuously on the rise. Industries, such as industrial automation, automotive gauges, machine tools, and automated production equipment, show a strong preference for this type of motor, further contributing to the growth of the market.

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Healthcare sector relies heavily on motors for various medical equipment. The increasing need for stepper motors in the production of X-ray machines and blood analyzers is expected to fuel market growth during the forecast period. Additionally, the healthcare industry's recent advancements, like the utilization of oxygen concentrators, incorporate these motors in fans for cooling purposes. The compact size and low noise characteristics of these stepper motors make them highly sought-after for medical applications. These motors are preferred in medical settings due to their ability to efficiently power essential medical equipment while maintaining a quiet and unobtrusive operation.

Market for miniature motors is set to experience a significant upsurge in demand across various industries such as computer peripherals, digital lenses and cameras, automobile electronics, & electronic toys and games. This surge in demand is expected to be a major driving force for market growth throughout the forecast period. Moreover, miniature motors are favored in aerospace and military applications that demand high accuracy due to their lightweight and space-saving characteristics. As a result, their adoption in these sectors further contributes to the overall expansion of the market.

Stepper Motors Market Report Highlights

• Hybrid segment held the largest share, owing to its high efficiency, high torque, & low stepping rate
• Closed loop segment dominated the market, owing to increased requirement for the stability & accuracy standards
• APAC dominated the market, owing to surge in automotive industry, and advancements in motion control systems in India, China, and Japan
• Key players include Nippon Pulse America.; AMETEK, ORIENTAL MOTORS, MOONS, Nidec Corporation, and MinebeaMitsum

Polaris Market Research has segmented the stepper motors market report based on type, motion control, application, and region:

Stepper Motors, Type Outlook (Revenue - USD Billion, 2023 - 2032)

• Permanent Magnet
• Hybrid
• Variable Reluctance

Stepper Motors, Motion Control Outlook (Revenue - USD Billion, 2023 - 2032)

• Closed Loop
• Open Loop

Stepper Motors, Application Outlook (Revenue - USD Billion, 2023 - 2032)

• Industrial Machinery
• Medical Equipment
• Packaging Machinery
• Automotive
• Others

Stepper Motors, Regional Outlook (Revenue - USD Billion, 2023 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Stepper Motors Market Report Scope