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

Rotary Stepper Motor Segment to Dominate SAM Stepper Motor Market during 2019-2027

According to a new market research study on “SAM Stepper Motor Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Type, Technology, and End User” is expected to reach US$329.7 million by 2027 from US$224.9 million in 2019. The market is estimated to grow at a CAGR of 5.39% from 2020 to 2027. The report provides trends prevailing in the SAM stepper motor market along with the drivers and restraints pertaining to the market growth. Increasing deployment of robotics and automation in diverse industries and growing application of stepper motors in medical sector are the major factor driving the growth of the SAM stepper motor market. However, rising implementation of servo motors in motion control applications hinder the growth of SAM stepper motor market. In the case of COVID-19, Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The government of SAM has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that SAM will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners. Containment measures in several countries of SAM will reduce economic activity in the manufacturing and service sectors for at least the next quarter, and is expected to rebound once the pandemic is contained. Factory shut downs has been witnessed in both end use OEMs and mechanical service providers who are tier 1 and 2 suppliers for industries such as automotive, building & construction, electrical & electronics, aerospace & defense, medical/healthcare, etc. this has adversely affected the overall market for stepper motors in the SAM.

The SAM stepper motor market is segmented into by type, technology, end user, and country. Based on type, the market is further segmented into integrated lead screw stepper motor, rotary stepper motor, and fully-enclosed stepper drives. Rotary stepper motor held the largest share of the overall market in 2019. However, integrated lead screw stepper motor is anticipated to be the fastest-growing type during the forecast period. Based on technology, the market is bifurcated into permanent magnet stepper motor, hybrid stepper motor, and variable reluctance stepper motor. In 2019, the hybrid stepper motor segment held a substantial share of the SAM stepper motors market. Further, based on the end-user, the market is divided into semiconductor, packaging and labeling, medical equipment, industrial machineries, and others. The industrial machineries held the largest share in 2019. However, the packaging and labeling segment is expected to be the fastest-growing during the forecast period.

ABB Ltd.; Delta Electronics; National Instruments Corporation; Nidec Corporation; Nippon Pulse Motor Co. Ltd.; Schneider Electric SE are among the leading companies in the SAM stepper motor market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019 Nippon Pulse introduced PJE series of bipolar hybrid stepper motors that are available in sizes from 20mm to 86mm in diameter, and offers high torque.

The report segments the SAM Stepper Motor market as follows:

SAM Stepper Motor Market - By Type

• Integrated Lead Screw Stepper Motor
• Rotary Stepper Motor
• Fully-Enclosed Stepper Drives

SAM Stepper Motor Market - By Technology

• Permanent Magnet Stepper Motor
• Hybrid Stepper Motor
• Variable Reluctance Stepper Motor

SAM Stepper Motor Market - By End User

• Semiconductor
• Packaging and Labeling
• Medical Equipment
• Industrial Machineries
• Others

SAM Stepper Motor Market - By Country

• Brazil
• Argentina
• Rest of SAM

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