Market Introduction
Stepper motor is a highly versatile machine predominantly used in diversified industries—such as semiconductor, packaging and labeling, medical equipment, industrial machineries, food & beverages, and many more—for performing many linear manufacturing processes repeatability, with high torque at low speeds, as well as minimal maintenance. Some of the linear manufacturing processes applications are rail positioning, conveyers, and X-Y tables. The continuous growth of the automation and robotics industry is boosting the demand for stepper motors, which can be fitted in limited spaces. The motors manufactures are constantly increasing their focus on optimizing the design as well as manufacturing processes so as to deliver superior products with enhanced efficiency. Additionally, the streamlined manufacturing process, as well as the upgraded model of the stepper motors with miniaturization, boosted the adoption of stepper motor across various applications such as robotics, automobile, and semiconductor industries. All these industries demand high torque speed, high precision, and better efficiency. Factors like increase in deployment of robotics and automation in industries and increase in applications of stepper motors in medical field is expected to create a significant demand for stepper motor in the coming years, which is further anticipated to drive the SAM stepper motor market.
Moreover, in case of COVID-19, Brazil got the highest coronavirus cases in SAM. Factory shut downs has been witnessed in both end use OEMs and mechanical service providers who are tier 1 and 2 suppliers for industries such as automotive, building & construction, electrical & electronics, aerospace & defense, medical / healthcare, etc. This has adversely affected the overall market for stepper motors in the SAM.
Market Overview and Dynamics
The stepper motor market in SAM is expected to grow from US$ 224.9 million in 2019 to US$ 329.7 million by 2027; it is estimated to grow at a CAGR of 5.39 % from 2020 to 2027.Growing demand for miniature stepper motors is expected to upswing the stepper motor market growth in SAM. Miniaturization is a constant concern for several industries, as well as one of the key trends in the current market scenario. Everything from desktop to hand tools and factory equipment is getting smaller, and more powerful motors are desired for motion and positioning systems. The enhanced design, as well as the modernized manufacturing process of miniature stepper motors, has resulted in their adoption in numerous applications such as medical and laboratory equipment, pumps, camera controls, and consumer electronics, where space for installation is limited. Yet, high torque and precision positioning is essential. Growing demand of miniature stepper motor due to several advantages such as less space utilization, high efficiency, high torque speed, high precision, and less weight is expected to drive the stepper motor market in SAM.
Key Market Segments
In terms of type, the rotary stepper motor accounted for the largest share of the SAM stepper motor market in 2019. In terms of technology, the hybrid stepper motor held a larger market share of the SAM stepper motor market in 2019. Further, the industrial machineries held a larger share of the market based on end user in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the SAM stepper motor market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ABB Ltd.; Delta Electronics; National Instruments Corporation; Nidec Corporation; Nippon Pulse Motor Co. Ltd.; Schneider Electric SE.
Reasons to buy report
SAM Stepper Motor Market Segmentation
By Technology
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 224.9 Million |
| Market Size by 2027 | US$ 329.7 Million |
| CAGR (2020 - 2027) | 5.39 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Stepper Motor Market is valued at US$ 224.9 Million in 2019, it is projected to reach US$ 329.7 Million by 2027.
As per our report South America Stepper Motor Market, the market size is valued at US$ 224.9 Million in 2019, projecting it to reach US$ 329.7 Million by 2027. This translates to a CAGR of approximately 5.39 % during the forecast period.
The South America Stepper Motor Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Stepper Motor Market report:
The South America Stepper Motor Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Stepper Motor Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Stepper Motor Market value chain can benefit from the information contained in a comprehensive market report.
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