Closed Loop Stepper Motor Market to Witness 6.3% CAGR during 2017 - 2023

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Global Closed Loop Stepper Motor Market to
Witness 6.3 CAGR during 2017 2023
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Global Closed Loop Stepper Motor Market
According to a new market research report Global
Closed Loop Stepper Motor Market Size, Share,
Development, Growth and Demand Forecast to 2023 -
Industry Insights by Type (Permanent Magnet,
Hybrid, and Variable Reluctance), by End-User
(Industrial Machineries, Medical Equipment,
Packaging and Labelling, Semiconductor and
Others) published by PS Market Research, the
global closed loop stepper motor market is
projected to grow at a CAGR of 6.3 during 2017
2023. Access Report Description
https//www.psmarketresearch.com/market-analysis/c
losed-loop-stepper-motor-market
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Global Closed Loop Stepper Motor Market
Global closed loop stepper motor market to
register steady growth during 2017 - 2023
As per the research, the global closed loop
stepper motor market is expected to register a
CAGR of 6.3 during 2017 - 2023. Closed loop
stepper motors refer to an improved version of
the traditional open loop stepper motors, which
abolish the constraints and drawbacks of the
traditional systems. The major advantages of
closed-loop technology are the feedback of
control signals and power-adjusted current
control. An internal encoder is used to record
the rotor position, velocity and current loops in
real-time. Closed loop steppers incorporate the
advantages of servo and traditional stepper motor
technologies and offer unique competencies and
improvements over both, while at half the cost of
a servo system. Major factors propelling the
growth of the global closed loop stepper motor
market include brisk increase in mechanization,
integration of motion control components and
standardization of energy efficiency. Moreover,
its low price in comparison with servo motors is
a major factor supporting their adoption,
especially in developing countries.
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Global Closed Loop Stepper Motor Market
Insights on market segments
Some of the major end-users of closed loop
stepper motors comprise industrial machineries,
medical equipment, packaging and labelling,
factory automation, textile and robotics, of
which industrial machineries have been the
largest user, owing to the rapid growth in
mechanization and evolution of industry 4.0.
Moreover, uninterrupted demand for motion control
components across the globe is one of the major
factors behind the adoption of closed loop
steppers. Closed loop stepper motors offer
various advantages such as trimmed labor costs,
high torque at lower speed, shorter settling time
and correct positioning without back swing, which
are all likely to create a positive outlook for
this market.
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Global Closed Loop Stepper Motor Market
Asia-Pacific The largest market for closed loop
stepper motor
Asia-Pacific has been the largest contributor to
the global closed loop stepper motor market. The
anticipated growth in the market is attributable
to the surging demand for automation in
developing countries such as Japan, China, India
and South Korea among which, Japan contributes
the largest to the Asia-Pacific closed loop
stepper market, closely followed by China. For
instance, in January 2017, two of the Japanese
machinery manufacturers, Mitsubishi Electric and
Kawasaki Heavy Industries, in a bid to boost
factory readiness in China, moved to outturn
robots and factory automation products. To
achieve this target, Mitsubishi Electric intends
to spend 17.6 million to enhance the production
capacity of numerical control devices and motors,
at a plant in Jiangsu Province. It plans to build
up a new building about the equal size as of the
existing one, with the target of bringing the new
facility onstream this year.
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Global Closed Loop Stepper Motor Market
Rising population is one of the major factors to
spearhead the growth of automation in developing
economies. Governments of developed as well as
developing countries are supporting the concept
of industry 4.0 and helping the population in
adoption of new technologies. In 2016, the group
of seven agriculture ministers in Japans
northern prefecture of Niigata united and decided
to replace the retiring farmers with Japanese
developed backpack-carried robots and autonomous
tractors. These factors have been augmenting the
demand for closed loop stepper motor market in
Asia-Pacific.
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Global Closed Loop Stepper Motor Market
Standardization of energy efficiency driving
global closed loop stepper motor market
Global warming, surging energy costs and booming
eco-friendly alertness have led to the
standardization of energy efficiency, owing to
which, governments and manufacturing companies
are keeping energy efficient manufacturing on the
top of their agenda and are looking for the most
adequate measures to raise the levels of energy
efficiency in all the processes. In 2014,
American National Standard Institute (ANSI)
Energy Efficiency Standardization Coordination
Collaborative (EESCC) published a set of decisive
instructions portraying the standards and
obedience assessment curriculum required to
enable a more energy efficient environment.
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Global Closed Loop Stepper Motor Market
High intensity of rivalry
The research states that the structure of closed
loop stepper motor market is fragmented, with the
presence of large number of regional and
international players, due to which the market is
extremely competitive. However, it is difficult
for the regional players to challenge their
international competitors in terms of quality,
functionality, features and services. Some of the
major companies operating in the global closed
loop stepper motor market include Nippon Pulse
Motor Co. Ltd., Schneider Electric SE, ABB Ltd.,
Applied Motion Products Inc., Delta Electronics
Inc., Sanyo Denki Co. Ltd., National Instruments
Corporation, Nidec Corporation, Lin Engineering
LLC, Faulhaber Group and Oriental Motor Co.
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Global Closed Loop Stepper Motor Market
Download report sample at
https//www.psmarketresearch.com/market-analysis/c
losed-loop-stepper-motor-market/report-sample
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