(MENAFNEditorial) iCrowdNewswire - Feb 23, 2018
is expected to grow at a CAGR of 6.3% between 2017-2023. Major factors propelling the growth of the 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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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 the closed loop stepper motor market.
A major trend observed in closed loop stepper motor market is the integration of wireless communication technology.
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Asia-Pacific has been the largest contributor to the 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 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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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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