According to a new market research report “Global Closed Loop Stepper Motor Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Type (Permanent Magnet, Hybrid, and Variable Reluctance), by End-User (Industrial Machineries, Medical Equipment, Packaging and Labelling, Semiconductor and Others)” published by P&S Intelligence, the global closed loop stepper motor market is projected to grow at a CAGR of 6.3% during 2017 – 2023.
Access Report Description: https://www.psmarketresearch.com/market-analysis/closed-loop-stepper-motor-market
Global closed loop stepper motor market to register steady growth during 2017 - 2023
As per the research, the global closed loop stepper motor market is expected to register a CAGR of 6.3% during 2017 - 2023. Closed loop stepper motors refer to an improved version of the traditional open loop stepper motors, which abolish the constraints and drawbacks of the traditional systems. The major advantages of closed-loop technology are the feedback of control signals and power-adjusted current control. An internal encoder is used to record the rotor position, velocity and current loops in real-time. Closed loop steppers incorporate the advantages of servo and traditional stepper motor technologies and offer unique competencies and improvements over both, while at half the cost of a servo system.
Major factors propelling the growth of the global closed loop stepper motor market include brisk increase in mechanization, integration of motion control components and standardization of energy efficiency. Moreover, its low price in comparison with servo motors is a major factor supporting their adoption, especially in developing countries.
Insights on market segments
Some of the major end-users of closed loop stepper motors comprise industrial machineries, medical equipment, packaging and labelling, factory automation, textile and robotics, of which industrial machineries have been the largest user, owing to the rapid growth in mechanization and evolution of industry 4.0. Moreover, uninterrupted demand for motion control components across the globe is one of the major factors behind the adoption of closed loop steppers. Closed loop stepper motors offer various advantages such as trimmed labor costs, high torque at lower speed, shorter settling time and correct positioning without back swing, which are all likely to create a positive outlook for this market.
Asia-Pacific – The largest market for closed loop stepper motor
Asia-Pacific has been the largest contributor to the global closed loop stepper motor market. The anticipated growth in the market is attributable to the surging demand for automation in developing countries such as Japan, China, India and South Korea; among which, Japan contributes the largest to the Asia-Pacific closed loop stepper market, closely followed by China. For instance, in January 2017, two of the Japanese machinery manufacturers, Mitsubishi Electric and Kawasaki Heavy Industries, in a bid to boost factory readiness in China, moved to outturn robots and factory automation products. To achieve this target, Mitsubishi Electric intends to spend $17.6 million to enhance the production capacity of numerical control devices and motors, at a plant in Jiangsu Province. It plans to build up a new building about the equal size as of the existing one, with the target of bringing the new facility onstream this year.
Rising population is one of the major factors to spearhead the growth of automation in developing economies. Governments of developed as well as developing countries are supporting the concept of industry 4.0 and helping the population in adoption of new technologies. In 2016, the group of seven agriculture ministers in Japan’s northern prefecture of Niigata united and decided to replace the retiring farmers with Japanese developed backpack-carried robots and autonomous tractors. These factors have been augmenting the demand for closed loop stepper motor market in Asia-Pacific.
Standardization of energy efficiency driving global closed loop stepper motor market
Global warming, surging energy costs and booming eco-friendly alertness have led to the standardization of energy efficiency, owing to which, governments and manufacturing companies are keeping energy efficient manufacturing on the top of their agenda and are looking for the most adequate measures to raise the levels of energy efficiency in all the processes. In 2014, American National Standard Institute (ANSI) Energy Efficiency Standardization Coordination Collaborative (EESCC) published a set of decisive instructions portraying the standards and obedience assessment curriculum required to enable a more energy efficient environment.
High intensity of rivalry
The research states that the structure of closed loop stepper motor market is fragmented, with the presence of large number of regional and international players, due to which the market is extremely competitive. However, it is difficult for the regional players to challenge their international competitors in terms of quality, functionality, features and services.
Some of the major companies operating in the global closed loop stepper motor market include 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.
GLOBAL CLOSED LOOP STEPPER MOTOR MARKET SEGMENTATION