asia pacific stepper motor Market

The stepper motor market in APAC 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 rising demand for medical devices worldwide owing to the increasing number of patients and governments effort to enhance healthcare infrastructure are propelling the growth of the stepper motor market. Additionally, the 3D printing technology offers a huge opportunity for medical companies in empowering a rapid production of medical implants, as well as transforming the way of planning procedures by surgeons and doctors. Moreover, 3D-printed anatomical models are becoming essential and useful tools in the current practice of precision medicine as well as for personalized treatments. Also, additive manufacturing for the healthcare industry is still an ongoing process; however, it has already been applied in several different techniques in the medical field. These developments in the medical field have increased the applications of stepper motors, thus, supporting the growth of stepper motor market. 

Based on type, the stepper motor 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. Rotary stepper motors are brushless and synchronous electric motors, which split a full rotation of the motor into number of equal steps. They act as synchronous AC motors comprising several poles, which are mounted on both rotor and stator. These motors are used in a wide range of systems in an industrial setup, such as multi-axis machines, CNC machines, rotation stages, high-speed pick and place equipment, constantly driving linear actuators, linear stages, lead screws or ball screws, and mirror mounts.   

Several governments in APAC are taking possible steps to reduce the effects of COVID–19 by announcing lockdown, which is impacting the revenue generated by the market. Although, China is one of the leading manufacturing sectors in the region, it is the most affected country in APAC due to COVID-19. However, China has been able to minimize the spread of COVID-19, and the industries are back to normal run. Several players in the country have witnessed decline in market trends over the past three months. Further, India, Japan, South Korea, and Taiwan are still combating the virus, and are exercising lockdown, which is hampering the growth of stepper motor market.

The overall APAC stepper motor market size has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the stepper motor market. The process also serves the purpose of obtaining an overview and forecast for the APAC stepper motor market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry experts such as VPs, business development managers, stepper motor market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC stepper motor market. 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; and Delta Electronic are among a few players operating in the APAC stepper motor market.