Stepper Motors Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2025
The global stepper motors market size is expected to reach USD 6.0 billion by 2025, registering a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for stepper motors from the packaging and labeling industry for automation solutions is expected to drive the market growth over the forecast period. The market growth can also be ascribed to the growing demand for reduced heat and noise generation in high-speed applications in industrial automation, which in turn is expected to create lucrative opportunities for manufacturers over the forecast period. Stepper motors are available in different types such as permanent magnet, hybrid, and variable reluctance. The variable reluctance type offers high accuracy, as it turns at a specific angle to minimize the reluctance between opposite windings in the stator. Thus, owing to the accuracy of variable reluctance motor, the demand is continuously increasing. Moreover, it is highly preferred for industrial applications, automotive gauges, and machine tools and automated production equipment, which is also boosting the market growth. The growth of the market is also attributed to increasing use of stepper motors in motion control systems, especially in China and Japan. Furthermore, a surge in demand for miniature motors in computer peripherals, digital lenses and cameras, automobile electronics, and electronic toys and games is expected to propel the market growth over the forecast period.