Global Permanent Magnet Stepper Motors Market – Industry Trends and Forecast to 2029

Permanent Magnet Stepper Motors Market Analysis and Size

Motor designers have been observed to place a greater emphasis on optimizing design and manufacturing processes in order to deliver better products with greater efficiency. Furthermore, miniature motors' improved design and streamlined manufacturing process lead to their adoption in a variety of applications such as the automobile, robotics, and semiconductor industries, which require high precision, high torque speed, and improved efficiency. Furthermore, the market is experiencing tremendous growth as a result of increased automobile production and the number of motors used in a specific vehicle.

Data Bridge Market Research analyses that the permanent magnet stepper motors market which was growing at a value of 2.37 billion in 2021 and is expected to reach the value of USD 3.40 billion by 2029, at a CAGR of 4.60% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Permanent Magnet Stepper Motors Market Scope and Segmentation

Market Definition

A permanent magnet stepper motor is a type of electric motor that rotates the armature in discrete steps using magnets. The stator, or stationary part of the motor, has multiple pairs of poles wound with wire coils. A permanent magnet is located in the rotor, or moving part of the motor. When current flows through the coils, a magnetic field interacts with the permanent magnet's field, causing the rotor to turn.

Global Permanent Magnet Stepper Motors Market Dynamics

Drivers

• Growing need for durable magnet engines

The growing interest in extremely durable magnet engines in the automotive industry is propelling the market forward. As concerns about rapid environmental change and regular asset depletion grow, long-lasting magnet engines are being used in many segments of automobiles, such as vehicle windshield wipers, to supply high voltage via electric energy. Furthermore, the reception of such engines improves working efficiency while reducing ozone-harming substance outflows from automobiles. As a result of the increased interest for extravagance vehicles with improved eco-friendliness and computerization, the sending of long-lasting magnet engines is expanding, contributing to advertise development.

• High penetration of robotics and automation

Another major driving factor for the global stepper motor market is the growing robotics and automation industry. Industrial robotics solutions are gaining enormous popularity as a result of the rapid development of the global robotics and automation industry, as evidenced by their widespread deployment in the manufacturing sector. The advantages of industrial robots, such as their ability to provide personal assistance on the floor and their suitability as autonomous vehicles, are critical for the permanent magnet stepper motors market's advancement.

Other benefits, such as the streamlining of the manufacturing process and human resources, the smoothening of supply chain management, increased efficiency, and time savings, are driving the widespread adoption of industrial robotics and automation solutions and playing a significant role in increasing demand for motors, thereby driving the permanent magnet stepper motors market.

Opportunity

Permanent magnets lower manufacturing costs because the rotor in the motor does not require external current to function and produces more torque per ampere stator current; these factors contribute to the market's growth. Its use in a variety of applications provides advantages such as reduced weight, higher power density, and lower emissions. As a result, the motor provides open loop control, making the permanent magnet stepper motor less expensive and easier to operate. Continuous research and technological advancement in permanent magnet stepper motor will create opportunities for growth.

Restraints

With high market treats of substitutes such as servo motors, the market will act as a restraint, further challenging the growth of permanent magnet stepper motors during the forecast period.

This permanent magnet stepper motors market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the permanent magnet stepper motors market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Permanent Magnet Stepper Motors Market

The COVID-19 pandemic has had a significant impact on the global stepper motor market, both on the supply and demand sides. Stringent lockdown measures around the world have slowed business and GDP growth, pushing rates into the negatives in some places. The supply of raw materials required for motor production from China, Japan, and Association of Southeast Asian Nations (ASEAN) countries has been severely disrupted, putting a significant strain on overall stepper motor production. The market for stepper motors is slowing as a result of a drop in demand, but it will eventually return to pre-COVID levels in the short term.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In November 2019, AMETEK France established a new Technology Solutions Centre in Elancourt City as its regional headquarters in order to expand its electromechanical and electronic instrument business in France.
• In July 2019, Applied Motion Products, a MOONS company, purchased land in California for its new corporate headquarters. The new headquarters will house all of the company's operations in the United States, including production, warehousing, operations, engineering, customer service, and executive management.
• In March 2019 Maxon Motors opened a new manufacturing facility in Taunton, Massachusetts, the United States, which is engaged in designing, engineering, and production operations, significantly expanding Maxon's precision motor presence and capabilities in North America.

Global Permanent Magnet Stepper Motors Market Scope

The permanent magnet stepper motors market is segmented on the basis of type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• 2-Phase Hybrid Steeper Motors
• 4-Phase Hybrid Steeper Motors
• Others

Application

• Telecommunication Equipment
• Office Equipment
• Medical Equipment
• Industrial Automation
• Consumer Electronics
• Others

Permanent Magnet Stepper Motors Market Regional Analysis/Insights

The permanent magnet stepper motors market is analysed and market size insights and trends are provided by country, type and application as referenced above.

The countries covered in the permanent magnet stepper motors market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The Asia-Pacific region is dominating the global market due to the presence of countries such as Japan, China, India, and South Korea, which are considered electronic materials locations and thus drive market interest in this region. Furthermore, rising urbanisation contributes to increased market interest.

North American region accounts for the highest growth rate of the overall market because of the presence of countries such as Canada, Mexico, and the United States. Expanding interest in various structure and framework improvement exercises generates more market demand. The presence of numerous large significant players in this space also contributes to market interest. This procedure aids in the development of long-lasting magnet simultaneous engines that use less energy and are more efficient.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Permanent Magnet Stepper Motors Market Share Analysis

The permanent magnet stepper motors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to permanent magnet stepper motors market.

Some of the major players operating in the permanent magnet stepper motors market are:

• Shinano Kenshi Co., Ltd. (Japan)
• MinebeaMitsumi Inc. (Japan)
• NIDEC CORPORATION (Vietnam)
• MOONS'. (Japan)
• SANYO DENKI CO., LTD. (Japan)
• ORIENTAL MOTOR USA CORP. (U.S)
• TAMAGAWA SEIKI Co.,Ltd. (Japan)
• Changzhou Fulling Motor Co., Ltd (China)
• Nippon Pulse America, Inc. (U.S)
• Nanotec Electronic GmbH & Co. KG, (Germany)
• AMETEK Inc. (U.S)
• Société Industrielle de Sonceboz SA (Switzerland)
• Phytron GmbH (Germany)
• MicroStep, spol. s r.o. (Germany)

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