The stepper motor market in the MEA is expected to grow from US$ 116.6 million in 2019 to US$ 158.4 million by 2027; it is estimated to grow at a CAGR of 4.33 % from 2020 to 2027.
The rising implementation of robotics and automation in diverse industries across the MEA, to ensure safer and more efficient operations, is one of the key factors driving the market growth. Almost every industry, including automotive, consumer electronics, and metals and machinery, have deployed industrial robots in their manufacturing facilities. In factories where automation is highly used ,engineers are highly dependent on movement-control devices to increase efficiencies and production rates . Stepper motors, one of the categories of these devices, is extensively being used owing to their simple implementation, performance ratio, attractive price, and high torque at low speeds. Increase in applications of stepper motors in medical field is another factor that is likely to boost the demand for stepper motors.
The COVID-19 pandemic has adversely affected the MEA is highly affected especially South Africa. The majority of the business in MEA have come to a halt and is expected to continue slower than usual pace. The slowdown of the crude oil industry has negatively affected the investment in machineries in the crude oil industry. This in turn has further declined the market for stepper motor.
The hybrid stepper motor led the MEA stepper motor market, based on technology, in 2019. A hybrid stepper motor is an amalgamation of permanent magnet and variable reluctance motor technologies. The permanent magnet with a toothed rotor features two sections/cups that are opposite in polarity. In addition, the electromagnetic stator placed inside the motor is also toothed. The integration of rotor teeth allows the magnetic flux to flow in the preferred locations with an air gap, thus enhancing the holding capacity, dynamics, and detent torque, in contrast to variable reluctance and permanent magnet types. Factors such as more reliability, high torque at low speeds, real time control etc. is expected to increase demand of hybrid stepper motor in coming years .The hybrid technology perhaps is the most common type of stepper motors, with complex construction, which further increases their cost. These motors are used across various applications where rotor position and speed are the main concern. They are used for all types of control signals such as analog, digital, and communications. The use of hybrid stepper motors in a wide range of applications increases their demand in the MEA.
The overall MEA stepper motor marketsize has been derived using both 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 market. The process also serves the purpose of obtaining overview and forecast for the MEA 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 typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the MEA stepper motor market. ABB Ltd., Delta Electronics, National Instruments Corporation, Nippon Pulse Motor Co. Ltd., and Schneider Electric SE are among the key players operating in the MEA stepper motor market.