The increasing concerns regarding global warming and high energy cost are leading to the standardization of manufacturing techniques, to attain energy efficiency. Due to this, various governments and manufacturing companies have shifted their focus on energy-efficient methods of production. For this, factories are using closed-loop stepper motors in large quantities, as they offer enhanced energy efficiency at high loads. According to P&S Intelligence, the rising focus on energy efficiency will drive the closed-loop stepper motor market at a CAGR of 6.3% during 2017–2023.

Furthermore, the evolution of the micro-stepping technique is driving the usage of stepper motors. The micro-stepping technique provides a greater resolution at high speeds and higher torque at low speeds. Besides, this technique reduces resonance and cogging-related issues and facilitates the smooth operation of a closed-loop stepper motor. Moreover, the manufacturing sector is also subject to government regulations that focus on enhancing the energy efficiency. Both these factors are, therefore, contributing to the increasing demand for advanced stepper motors.

Read More: Closed Loop Stepper Motor Market Analysis and Demand Forecast Report

The end user segment of the closed-loop stepper motor market is categorized into industrial machinery, packaging and labeling, semiconductor, medical equipment, and others, including textile and telecommunications. Among these, the industrial machinery category accounted for the largest market share in 2016 due to the implementation of Industry 4.0 standards and growing focus on mechanization. Moreover, the escalating demand for motion control components is a prime factor promoting the adoption of closed-loop stepper motors across the globe.

Globally, various regional and international companies are engaged in the production and maintenance of closed-loop stepper motors. Nippon Pulse Motor Co. Ltd., Applied Motion Products Inc., Sanyo Denki Co. Ltd., Nidec Corporation, Faulhaber Group, Schneider Electric SE, Delta Electronics Inc., National Instruments Corporation, Lin Engineering LLC, ABB Ltd., and Oriental Motor Co. are striving to compete with each other in terms of functionality, services, product quality, and features, so the end users get the best possible solutions for their machinery and manufacturing needs.