Market Trends of Stepper Motor Industry
Hybrid Type of Motors to Witness Significant Growth
- A hybrid stepper motor is a variety of permanent magnet-type and variable reluctance motors. The rotor in hybrid stepper motors is magnetized axially, much like the permanent magnets in stepper motors. Still, the stator is electromagnetically charged like a variable reluctance stepper motor.
- It has a higher output torque, a higher pulse rate, quicker acceleration and response, less noise, and better performance delivery because it operates on the combined principles of permanent-magnet and variable-reluctance variants. Additionally, they are incredibly dependable and require little maintenance, owing to their sturdy and straightforward construction.
- A vital feature of a hybrid stepper motor is its ability to operate in either a two-phase or three-phase configuration. Two-phase stepper motors use two stator windings that are alternately energized to rotate the rotor by attracting and repelling each other. In contrast, three-phase stepper motors use three stator windings that are energized sequentially, causing the rotor to rotate multiple steps per revolution.
- Industrial robotics options are becoming very popular due to the rapid advancement of the robotics and automation industry, as evidenced by their extensive deployment in the manufacturing sector. The development of hybrid stepper motors depends on the advantages of industrial robots, such as their suitability as independent vehicles and the provision of private assistance on the floor.
- Moreover, despite the global economic challenges, the IFR World Robotics 2023 report revealed a positive future for the industrial robot installation industry. In 2024, industrial robot installations in Asia/Australia are expected to reach 370,000 units, accounting for the highest number of installations.
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Asia-Pacific is Expected to Witness Significant Growth
- Asia-Pacific anticipates dominance in the global market, primarily due to the presence of countries like Japan, China, India, and South Korea. These countries are renowned for their electronic materials industry, significantly contributing to the market's interest in this region. Moreover, the region's continuous investments in the medical and robotic sectors are projected to further augment the market's prospects.
- Furthermore, there has been a substantial increase in the implementation of robotics in different sectors within India in recent times. Government initiatives such as the National Strategy for Robotics aim to position India as a global leader in robotics to actualize its transformative potential. It also builds upon Make in India 2.0, which has identified robotics as one of the 27 sub-sectors to enhance the country's integration in the global value chain. This substantial growth signifies a highly promising future for the robotics industry in India. Additionally, the continuous advancements in advanced technology and manufacturing capabilities are anticipated to propel the growth of the robotic industry in the region, consequently generating a surge in market demand.
- Despite the robotic industry, the market for stepper motors is also expected to increase significantly, owing to rising developments in the region's medical industry. The demand for medical equipment is experiencing a significant surge due to the rapidly growing population and the escalating healthcare expenditures in countries such as India, China, and other nations.
- For instance, as per the Government of India, the valuation of the Indian medical devices and equipment market stood at USD 11 billion in 2023 and is estimated to reach USD 50 billion by 2025. This industry has been witnessing consistent growth owing to heightened investments.
- The government has implemented the Production Linked Incentive Schemes to encourage local manufacturing. These schemes provide financial incentives amounting to USD 400 million for medical devices. As a result, numerous companies are making significant investments to augment the production capacities of healthcare equipment.
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