North America Stepper Motor Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Technology, and End user, and Country

The stepper motor market in North America was valued at US$ 504.6 million in 2019 and is projected to reach US$ 735.4 million by 2027; it is expected to grow at a CAGR of 5.3% from 2020 to 2027.

Miniaturization is a constant concern for several industries, as well as one of the key trends in the current market scenario. Everything from desktop to hand tools and factory equipment are getting smaller and more powerful motors are desired for motion and positioning systems. With the equipment size getting exponentially smaller, the issues regarding designing devices to fit the equipment are increasing. The enhanced design, as well as the modernized manufacturing process of miniature stepper motors, has increased their adoption in numerous applications such as medical and laboratory equipment, pumps, camera controls, and consumer electronics, where space for installation is limited. The growing application of stepper motor in the healthcare industry is expected to support the growth of stepper motor market. However, the growing popularity of substitutes such as servo motors may hinder the growth of stepper motor market.

Based on type, the stepper motor market is further segmented into integrated lead screw stepper motor, rotary stepper motor, and fully-enclosed stepper drives. The rotary stepper motor segment held the largest share of the stepper motor market in 2019. Rotary stepper motors are brushless and synchronous electric motors, which split a full rotation of the motor into number of equal steps. They act as synchronous AC motors comprising several poles, which are mounted on both rotor and stator. These motors are used in a wide range of systems in an industrial setup, such as multi-axis machines, CNC machines, rotation stages, high-speed pick-and-place equipment, constantly driving linear actuators, linear stages, lead screws or ball screws, and mirror mounts.

The US is the worst affected country in North America, with around 213,600 active COVID-19 cases. The increase in number of COVID-19 infected individuals has led the governments in the region to impose strict regulations. The majority of the manufacturing plants and automotive and semiconductor industries are shut down, which is negatively impacting the stepper motor market.

The overall North America stepper motor market size has been derived using 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 stepper motor market. The process also serves the purpose of obtaining an overview and forecast for the North America 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 who take part in such a 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 North America stepper motor market. Applied Motion Products, Inc.; FAULHABER Group; Oriental Motor USA Corp.; SANYO DENKI CO., LTD; Nidec Corporation; Nippon Pulse Motor Co. Ltd.; ABB Ltd.; Schneider Electric SE; National Instruments Corporation; and Delta Electronic are among a few players operating in the North America stepper motor market.