The use of stepper motors for packaging and labeling purposes and that of waterproof steppers in different application areas are gaining popularity in the stepper motor market. In 2017, the market attained a size of $1.9 billion, and it is predicted to progress at a CAGR of 4.6% during the forecast period (2018–2023).

Stepper motors are digitally controlled and help in exact positioning in different machines. They help in controlling the rotation angle and speed in equipment that demand various motion axes.

On the basis of technology, the stepper motor market is categorized into hybrid, permanent magnet, and variable reluctance. Out of these, in 2017, the hybrid category made a contribution of $351.4 million to the market, and during the forecast period, it is expected to exhibit the fastest growth at a CAGR of 6.6%.

Based on type, the market is classified into fully enclosed, rotary, and integrated lead screw. Among these, in 2017, the rotary classification held the largest share of more than 70.0% in the stepper motor market, and it is predicted to maintain its dominance during the forecast period owing to the increasing need for hybrid technology-based rotary stepper motors.

The expanding packaging and labeling industry has escalated the demand for integrated motors in the recent years. This industry is predicted to witness a massive growth in Asia-Pacific, which is anticipated to drive the global stepper market growth . Besides, the pharmaceutical and drug packaging domain is observing rapid growth, resulting in the increasing installation of these motors in packaging lines for cartooning, routing, and sealing purposes.

Hence, along with the expansion of the packaging and labeling industry, the growing use of miniature motors in various industries is helping the market prosper.

Global stepper motor market is expected to reach $2,556.3 million by 2023. Major factors propelling the growth of the market are increasing mechanization, technological advancements, and growing demand for miniature motors. Moreover, the less cost of stepper motors, as compared to servo motors, is another major factor supporting their adoption, especially in developing countries.

On the basis of end-use, the stepper motor market has been categorized into industrial machinery, medical equipment, packaging and labeling machinery, semiconductors, and others. Among these categories, industrial machinery contributed the largest share, of 37.2%, to the market in 2017.

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The motion control system market has become highly competitive owing to the increasing penetration of servo motors. The advent of the input/output (I/O) terminal, which is used as an amplifier for small stepper motors, has significantly contributed to the growth of the market for small-sized stepper motors.

In recent years, the stepper motor market has witnessed a high demand for steppers for the manufacturing of X-ray machines, IV pumps, and blood analyzers. In the healthcare industry, oxygen concentrators use these motors in fans for cooling. The compact size and low noise of these motors make them a preferred choice for medical applications.

Advancements in integrated motion control systems, such as reduced cable volume, owing to the use of a single cable for motor control interference, and improved accuracy of hybrid stepper motors for closed-loop motion control applications, have also contributed to the growth of the stepper motor market in the last three-to-four years.

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

Stepper Motor Market Segmentation

By Type

• Rotary Stepper Motors
• Fully Enclosed Stepper Motors
• Integrated Lead Screw Stepper Motors

By Technology

• Permanent Magnet
• Hybrid
• Variable Reluctance

By Motion Control

• Closed Loop
• Open Loop

By End-Use

• Industrial Machinery
• Medical Equipment
• Packaging and Labeling Machinery
• Semiconductors
• Others (Telecommunications, Textiles, 3D Printing, and Robotics)