Integrated Stepper Motor Market size to increase by USD 53.22 million during 2023-2028, Need to ensure uninterrupted industrial operations to drive the growth - Technavio

NEW YORK, Nov. 1, 2023 /PRNewswire/ -- The integrated stepper motor market size is expected to grow by USD 53.22 million between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 7.14% during the forecast period. The market is segmented by End-user (Process industries and Discrete industries), Type (NEMA17 and NEMA23), and Geography (Europe, North America, APAC, Middle East and Africa, and South America). The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample 

The need to ensure uninterrupted industrial operations drives the integrated stepper motor market. The growing competition across industries and the rapidly rising adoption of industrial robots led to a decline in the need for manual labor in many processes across industries. This results in significant cost savings to industry players. However, it also increases the reliance of these players, in both discrete and process industries, on machines. 

Key Highlights:

• The report recognizes the following as some of the key players in the integrated stepper motor market: ABB Ltd., ACT Motor Co. Ltd., Advanced Micro Controls Inc., Anaheim Automation Inc., Arcus Servo Motion Inc., Beckhoff Automation GmbH and Co. KG, Changzhou Fulling Motor Co. Ltd., Danaher Corp., DMI Technology Corp., FAULHABER GROUP, Japan Pulse Motor Co. Ltd., Leadshine Technology Co. Ltd., MinebeaMitsumi Inc., Nanotec Electronic GmbH and Co. KG, Oriental Motor Co. Ltd., Panasonic Holdings Corp., Parker Hannifin Corp., Schneider Electric SE, Shanghai MOONS Electric Co. Ltd., and TAMAGAWA SEIKI Co. Ltd.
• Integrated Stepper Motor Market is fragmented in nature.
• Market to observe 5.49% YOY growth in 2024.

Market Dynamics:

Trend

• The shift toward miniaturized and compact motors is an emerging integrated stepper motor market trend.
• Bulky products generally characterize industries due to the high power consumption in industrial activities.
• The miniaturization of industrial products has gained prominence as a trend over the years, which has resulted in a growing demand for products that are small enough to be easily installed and uninstalled.

Challenge

• The US-China trade war impacted the semiconductor and electronics industry.
• The ongoing trade war between the US and China significantly impacts the global semiconductor and electronics industry, along with some other industry verticals. 
• Disruptions in businesses in these countries are being felt by many other countries worldwide as these countries are two of the strongest economies in the world.
• The imposition of steep tariffs on the import of integrated stepper motors from China by the US government. This leads to disruptions across the entire supply chain.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

Process industry segment to generate maximum revenue in the integrated stepper motor market and is the leading end-user segment in the global integrated stepper motor market. The increasing global demand for electricity, rising urbanization, and the increasing use of electronic appliances are driving the segment's growth. Get a glance at the market contribution of the segments, Request a Sample Report

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Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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