Asia Pacific Stepper Motor Market is expected to reach US$ 900.5 Mn by 2027

Increasing Automation to Support the Growth of APAC Stepper Motor Market During 2019–2027

According to a new market research study on “APAC Stepper Motor Market to 2027 – Regional Analysis and Forecast by Type, Technology, and End User” the market was valued at US$ 696.5 million in 2019 and is projected to reach US$ 900.5 million by 2027; it is expected to grow at a CAGR of 3.7% from 2020 to 2027. The report provides trends prevailing in the APAC stepper motor market along with the drivers and restraints pertaining to the market growth. Growing demand for stepper motor in medical field and increasing popularity of automation are the major factors driving the growth of the stepper motor market. However, adoption of alternatives such as servo motors might hinder the growth of APAC stepper motor market.

Based on type, the market is further segmented into integrated lead screw stepper motor, rotary stepper motor, and fully-enclosed stepper drives. The rotary stepper motor segment held the largest share of the stepper motor market in 2019. Based on technology, the market is segmented into permanent magnet stepper motor, hybrid stepper motor, and variable reluctance stepper motor. In 2019, the hybrid stepper motor segment held a substantial share of the stepper motor market. Further, based on the end user, the market is divided into semiconductor, packaging and labeling, medical equipment, industrial machineries, and others. The semiconductor segment held the largest share of the stepper motor market in 2019.

ABB Ltd, Delta Electronics Inc., Faulhaber Group, National Instruments Corporation, Nidec Corporation, Nippon Pulse Motor Co. Ltd., Oriental Motor Co. Ltd., Sanyo Denki Co. Ltd., and Schneider Electric SE are among the major companies in the APAC stepper motor market. The companies are focused on adopting strategies such as product launches and business expansions to sustain their position in the dynamic market. For instance, in 2018, ABB Ltd. announced an investment of US$ 150 million in Shanghai, China to build most advanced, automated, and flexible robotics factory, where, the production line will focus on machine learning, as well as digital and collaborative solutions, and the R&D team will focus on AI research.

 APAC Stepper Motor Market, By Country, 2019 and 2027 (%)

The Report Segments the APAC Stepper Motor Market as Follows:

APAC Stepper Motor Market, by Type

• Integrated Lead Screw Stepper Motor
• Rotary Stepper Motor
• Fully-Enclosed Stepper Drives

APAC Stepper Motor Market, by Technology

• Permanent Magnet Stepper Motor
• Hybrid Stepper Motor
• Variable Reluctance Stepper Motor

APAC Stepper Motor Market, by End User

• Semiconductor
• Packaging and Labelling
• Medical Equipment
• Industrial Machineries
• Others

APAC Stepper Motor Market, by Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Stepper Motor Market-Companies Mentioned         

• FAULHABER Group                 
• Oriental Motor USA Corp.      
• SANYO DENKI CO., LTD          
• Nidec Corporation                  
• Nippon Pulse Motor Co. Ltd.                
• ABB Ltd.    
• Schneider Electric SE             
• National Instruments Corporation      
• Delta Electronic