Industry 4.0 Boosting Global Market Growth for Closed Loop Stepper Motor By P&S Market Research

According to a new market research report “Global Closed Loop Stepper Motor Market Size, Share, Development, Growth and Demand Forecast to 2023 – Industry Insights by Type (Permanent Magnet, Hybrid, and Variable Reluctance), by End-User (Industrial Machineries, Medical Equipment, Packaging and Labelling, Semiconductor and Others)” published by P&S Market Research, the global closed loop stepper motor market is projected to grow at a CAGR of 6.3% during 2017 – 2023.

Global closed loop stepper motor market to register steady growth during 2017 – 2023

As per the research, the global closed loop stepper motor market is expected to register a CAGR of 6.3% during 2017 – 2023. Closed loop stepper motors refer to an improved version of the traditional open loop stepper motors, which abolish the constraints and drawbacks of the traditional systems. The major advantages of closed-loop technology are the feedback of control signals and power-adjusted current control. An internal encoder is used to record the rotor position, velocity and current loops in real-time. Closed loop steppers incorporate the advantages of servo and traditional stepper motor technologies and offer unique competencies and improvements over both, while at half the cost of a servo system.

Major factors propelling the growth of the global closed loop stepper motor market include brisk increase in mechanization, integration of motion control components and standardization of energy efficiency. Moreover, its low price in comparison with servo motors is a major factor supporting their adoption, especially in developing countries.

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Insights on market segments

Some of the major end-users of closed loop stepper motors comprise industrial machineries, medical equipment, packaging and labelling, factory automation, textile and robotics, of which industrial machineries have been the largest user, owing to the rapid growth in mechanization and evolution of industry 4.0. Moreover, uninterrupted demand for motion control components across the globe is one of the major factors behind the adoption of closed loop steppers. Closed loop stepper motors offer various advantages such as trimmed labor costs, high torque at lower speed, shorter settling time and correct positioning without back swing, which are all likely to create a positive outlook for this market.

Asia-Pacific – The largest market for closed loop stepper motor

Asia-Pacific has been the largest contributor to the global closed loop stepper motor market. The anticipated growth in the market is attributable to the surging demand for automation in developing countries such as Japan, China, India and South Korea; among which, Japan contributes the largest to the Asia-Pacific closed loop stepper market, closely followed by China.

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Standardization of energy efficiency driving global closed loop stepper motor market

Global warming, surging energy costs and booming eco-friendly alertness have led to the standardization of energy efficiency, owing to which, governments and manufacturing companies are keeping energy efficient manufacturing on the top of their agenda and are looking for the most adequate measures to raise the levels of energy efficiency in all the processes. In 2014, American National Standard Institute (ANSI) Energy Efficiency Standardization Coordination Collaborative (EESCC) published a set of decisive instructions portraying the standards and obedience assessment curriculum required to enable a more energy efficient environment.

High intensity of rivalry

The research states that the structure of closed loop stepper motor market is fragmented, with the presence of large number of regional and international players, due to which the market is extremely competitive. However, it is difficult for the regional players to challenge their international competitors in terms of quality, functionality, features and services.

Some of the major companies operating in the global closed loop stepper motor market include Nippon Pulse Motor Co. Ltd., 

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