Europe 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 Europe was valued at US$ 450.1 million in 2019 and is projected to reach US$ 679.6 million by 2027; it is expected to grow at a CAGR of 5.8% from 2020 to 2027.

Stepper motors are expected to witness continuous adoption in several applications, such as robotic handling, medical devices, 3D printing, and industrial motion designs. Further, in hybrid stepper motors, latest trends include the addition of a linear screw as well as nut on its shaft for providing a complete linear-motion solution, which makes these motors a ready-to-go solution for customers. Other technological advancements include surge in double-shafted stepper motors and steppers with gearboxes. Also, a development of closed-loop systems is noticed making stepper motors full-fledged servos. Although, the growing demand for automation and technological advancements are expected to support the growth of stepper motor market, a surge in popularity of substitutes such as servo motors might slow down 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.

In Europe, Italy is the worst affected country by the COVID-19 outbreak, with approximately 115,242 active cases. Therefore, the region is expected to suffer an economic hit due to lack of revenue. Moreover, other European countries have implemented drastic regulations to minimize the spread of COVID-19. This is anticipated to negatively impact the growth of stepper motor market in Europe.

The overall Europe 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 Europe 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 Europe 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 Europe stepper motor market.