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NEW YORK, Oct. 10, 2022 /PRNewswire/ — The global integrated stepper motor market is forecasted to grow by USD 25.86 millionaccelerating at a CAGR of 4.66% between 2020 and 2025. Technavio segments the market by end-user (process industry and discrete industry) and geography (Europe, North AmericaAPAC, MEA, and South America). The report comprehensively analyzes recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.
Key points covered in the integrated stepper motor market study:
- Market estimates and forecast 2021-2025
- Key drivers, trends, and challenges impacting market growth
- Segment-wise, region-wise, and country-wide analysis
- Analysis of market share by vendors
- Key product launches and regulatory climate
- Post-COVID-19 impact on the market landscape. Download PDF Report Sample
Technavio categorizes the global integrated stepper motor market as a part of the global electrical components and equipment market within the global electrical equipment market. The parent market, the global electrical components and equipment market, covers companies engaged in the manufacturing of electric cables and wires, electrical components, and electrical equipment. The parent market is driven by growth in the global electrical components and equipment market.
The market in focus is primarily driven by the increasing demand for automated equipment and robots in industrial premises. The rising focus on automation has increased the use of automated material handling equipment in a diverse range of applications such as cranes, robots for pick-and-place applications, as well as automated guided vehicles and conveyors. This has increased the demand for integrated stepper motors in automobile manufacturing, packaging machinery, food processing, healthcare, semiconductors, and robotics industries. All these factors will influence the growth of the global integrated stepper motor market during the forecast period.
The full report provides information on other drivers, trends, and challenges that are impacting the growth of the market. Request a Sample PDF Report
Europe to dominate the integrated stepper motor market with 46% share and the market will record the highest growth in Europe during the forecast period. Factors such as increased oil and gas E&P activities and rising investments in seamless wireless communication systems in all key industry verticals.
Process industry segment to generate maximum revenue in the integrated stepper motor market and is the leading end-user segment in the global integrated stepper motor market. …
Full story available on Benzinga.com
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