The global closed loop stepper motor market is projected to grow at a CAGR of 6.3% during 2017 – 2023. As per the research, the global closed loop stepper motor market is expected to register a CAGR of 6.3% during 2017 – 2023. Closed loop stepper motors refer to an improved version of the traditional open loop stepper motors, which abolish the constraints and drawbacks of the traditional systems.
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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. Asia-Pacific has been the largest contributor to the global closed loop stepper motor market.
Major factors propelling the growth of the global closed loop stepper motor market include brisk increase in mechanization, integration of motion control components and standardization of energy efficiency. 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 closed loop stepper market, closely followed by China.
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Closed loop steppers incorporate the advantages of servo and traditional stepper motor technologies and offer unique competencies and improvements over both, while at half the cost of a servo system. 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.,
