Closed Loop Stepper Motor Market Overview
The global closed loop stepper motor market is projected to advance at a CAGR of 6.3% during the forecast period (2017–2023). Increasing demand for closed loop stepper motors from the packaging & labelling industry, rapid growth in automation, and growing need for improving energy efficiency in industrial applications are the key factors driving the market growth.
Geographically, Asia-Pacific (APAC) accounted for the largest share in the closed loop stepper motor market in 2016. This can be mainly attributed to the rising focus on automation in countries such as China, Japan, and India. Furthermore, the growing adoption of advanced technologies in developing countries is fueling the growth of the market in the APAC region.
Closed Loop Stepper Motor Market Dynamics
Trends
The key trends observed in the closed loop stepper motor market are the increasing regulations focusing on energy efficiency and the evolution of the micro-stepping technique. Micro-stepping technique facilitates smooth functioning of a stepper motor in addition to reducing resonance and cogging-related issues. The technique offers smoother torque at low speeds and greater resolution at high speeds, thereby improving the overall performance of the motor.
Growth Drivers
Some of the major factors driving the growth of the closed loop stepper motor market are technological advancements and rapid growth in automation. Moreover, with the evolution of industry 4.0 and the growing need for improving energy efficiency in various industrial applications, the demand for closed loop stepper motors is witnessing an increase across the world. For instance, in 2014, the American National Standards Institute (ANSI) Energy Efficiency Standardization Coordination Collaborative (EESCC) issued a set of instructions comprising the standards and obedience assessment curriculum required for an energy-efficient environment. Thus, in accordance with these instructions, manufacturing companies are increasingly focusing on energy optimization by deploying closed loop stepper motors, as they offer higher energy efficiency than traditional stepper motors.
Opportunities
Evolution of industry 4.0 can be viewed as the key growth opportunity for the players operating in the closed loop stepper motor market. Industry 4.0 is bringing automation and computer technology together to revolutionize production in industries. Various end users, such as the packaging & labelling, robotics, textile, and semiconductor industries, are increasingly using closed loop stepping motors for various applications. With the emergence of industry 4.0 coupled with increased focus on quality production, error minimization, and higher productivity, the demand for these motors is expected to substantially increase in the near future, further resulting in growth opportunities for the market players.
Challenges
Potential loss of synchronization of closed loop stepper motors when operating at high speeds is a major factor hindering the adoption of these motors. Closed loop step motors when operated at high speeds may lose synchronization, owing to the reoccurrence of mechanical or electrical issues. These motors, thus, require a feedback sensor to identify the stall-and-stop conditions. Moreover, these motors also vibrate and chatter, as a sort of cogging action at higher speeds. These factors affect the product adoption, which, in turn, hinders the growth of the closed loop stepper motor market to some extent.
Closed Loop Stepper Motor Market Competitive Landscape
Some of the key players operating in the global closed loop stepper motor market are Nippon Pulse Motor Co. Ltd., Schneider Electric SE, ABB Ltd., Applied Motion Products Inc., Delta Electronics Inc., Sanyo Denki Co. Ltd., National Instruments Corporation, Nidec Corporation, Lin Engineering LLC, Faulhaber Group, and Oriental Motor Co.
Key questions answered in the report
- What is the current scenario of the closed loop stepper motor market?
- What are the emerging technologies for the development of closed loop stepper motors?
- What are the key market segments and their future potential?
- What are the major catalysts for the market and their impact during the short, medium, and long terms?
- What are the evolving opportunities for the players in the market?
- Which are the key regions from the investment perspective?
- What are the key strategies adopted by the major players to expand their market share?
