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.
Browse detailed report - Stepper Motor Market Analysis and Demand Forecast Report
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.
