Automotive Stepper Motor Market Trends and Growth Factors Analysis 2019 - 2027

Stepper motor is an electromechanical device that converts electrical energy into mechanical output. It is a brushless DC motor that divides a full rotation into number of equal steps; moreover, it is used in the odometer of the vehicle.

The global market for stepper motor is expected to expand at a steady pace during the forecast period owing to its limited application in vehicles. Moreover, automotive stepper motors are utilized in gauges installed in vehicles; however, a rise in the adoption of digital gauges is likely to decrease the demand for automotive stepper motor. Furthermore, the market for stepper motor is primarily driven by the increase in demand for entry level vehicles that contain analog type gauges. Additionally, some automotive manufacturers are adopting digital meters, thus the shift in preference is likely to hamper the automotive stepper motor market, in terms of value. Instrument consoles with semi digital display are highly popular among luxury car manufacturers, as they provide a more luxurious and esthetically appealing appearance to the vehicle. Higher accuracy of the analog speedometer coupled with rising production of vehicles is expected to be a key driver of the automotive stepper motor market.

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The global automotive stepper motor market can be segmented based on type, technology, motion control, sales channel, vehicle, and region. Based on the type, the linear stepper motor segment is expected to hold a significant share of the market, owing to its wider range of applications along with high accuracy and better performance, as compared to the other segments.

In terms of technology, variable reluctance stepper motor is a highly attractive segment among all the technology segments of stepper motors. The variable reluctance stepper motor provides high accuracy and performance, which in turn drives the segment of the automotive stepper motor market. Moreover, variable reluctance motor is highly preferred for industrial applications too.

Based on motion control, the open loop segment is likely to account for a notable share of the automotive stepper motor market, as it is the best suited loop for the automotive stepper motor; however, it generates some losses in the form of resonance and oscillation. The performance of the closed loop system can be enhanced by using different techniques, thereby boosting the closed loop segment of the automotive stepper motor market.

In terms of sales channel, the OEM segment is anticipated to account for a prominent share of the automotive stepper motor market due to the low rate of replacement for automotive stepper motors. Furthermore, they possess a high lifespan and are replaced in case of severe damage due to accidents. Moreover, in most cases, the stepper motor is not replaced individually, instead the entire system is replaced.

Based on vehicle, the passenger vehicle segment is likely to hold a major share of the stepper motor market due to higher production of passenger vehicles, as compared to commercial vehicles. The production of passenger vehicles is rising in most regions across the globe, which is likely to boost the passenger vehicle segment during the forecast period. Stepper motors are also utilized in smaller vehicles, such as motorcycles and three wheelers. Consequently, expansion of the two wheeler and three wheeler market is anticipated to boost the demand for automotive stepper motors.

In terms of region, Asia Pacific is expected to dominate the global automotive stepper motor market, owing to the high production of vehicles in the region. High production of vehicles in China, Japan, and India is likely to significantly boost the automotive stepper motor market in the region. Europe is anticipated to be another leading market for automotive stepper motor, due to the significantly high production of vehicles in Germany, France, and Italy.

Key players of global automotive stepper motor market include Johnson Electric, Schneider Electric SE, Delta Electronics Inc., Nidec Motor Corporation, National Instruments Corporation, and Oriental Motor Co. Ltd.

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