Permanent Magnet Stepper Motors Market

By Motor;

Hybrid Stepper Motors and Permanent Magnet Stepper Motors

By Phase;

2-Phase Stepper Motors and 5-Phase Stepper Motors

By Application;

Industrial Automation, Consumer Electronics, Automotive and Medical Devices

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn820211948 Published Date: September, 2025 Updated Date: October, 2025

Permanent Magnet Stepper Motors Market Overview

Permanent Magnet Stepper Motors Market (USD Million)

Permanent Magnet Stepper Motors Market was valued at USD 1988.44 million in the year 2024. The size of this market is expected to increase to USD 2797.93 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.0%.


Permanent Magnet Stepper Motors Market

*Market size in USD million

CAGR 5.0 %


Study Period2025 - 2031
Base Year2024
CAGR (%)5.0 %
Market Size (2024)USD 1988.44 Million
Market Size (2031)USD 2797.93 Million
Market ConcentrationMedium
Report Pages350
1988.44
2024
2797.93
2031

Major Players

  • mpire Magnetics
  • Allied Motion
  • Kollmorgen
  • JVL A/S

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Permanent Magnet Stepper Motors Market

Fragmented - Highly competitive market without dominant players


The Permanent Magnet Stepper Motors Market is witnessing rapid growth, driven by increasing demand for high-precision motion control solutions. Over 65% of industries rely on permanent magnet stepper motors due to their accurate positioning, energy efficiency, and low vibration levels, supporting applications in automation, robotics, and medical devices.

Integration into Robotics and Industrial Automation
The adoption of robotics and smart automation technologies is boosting demand for stepper motors. Approximately 60% of manufacturing facilities deploy these motors for step accuracy, precise torque control, and operational stability. Their ability to function without closed-loop feedback makes them ideal for cost-effective automation.

Technological Advancements Driving Innovation
Manufacturers are investing in rare-earth magnets, integrated driver systems, and microstepping technology to deliver smoother motion and better torque performance. Around 58% of producers are incorporating IoT-enabled diagnostics and smart control solutions to enhance maintenance efficiency and extend motor lifespan.

Sustainability and Energy-Efficient Designs
Sustainability is becoming a key focus, with more than 52% of companies adopting eco-friendly materials, energy-efficient motor designs, and recyclable components. The integration of green manufacturing processes and low-power systems supports environmental objectives while enabling cost-efficient and sustainable market growth.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Motor
    2. Market Snapshot, By Phase
    3. Market Snapshot, By Application
    4. Market Snapshot, By Region
  4. Permanent Magnet Stepper Motors Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing Automation Across Industries
        2. Technological Advancements in Motor Design
        3. Rising Demand for Energy-efficient Solutions
        4. Expansion of Automotive and Consumer Electronics Sectors
      2. Restraints
        1. High Initial Costs of Advanced Motors
        2. Complexity in Integration with Existing Systems
        3. Limited Torque Density for Some Applications
        4. Challenges in Precision Positioning Requirements
      3. Opportunities
        1. Emerging Applications in Aerospace and Defense
        2. Development of Hybrid Stepper Motors
        3. Expansion into Emerging Markets
        4. Integration with IoT and Smart Manufacturing
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Permanent Magnet Stepper Motors Market, By Motor, 2021 - 2031 (USD Million)
      1. Hybrid Stepper Motors
      2. Permanent Magnet Stepper Motors
    2. Permanent Magnet Stepper Motors Market, By Phase, 2021 - 2031 (USD Million)
      1. 2-Phase Stepper Motors
      2. 5-Phase Stepper Motors
    3. Permanent Magnet Stepper Motors Market, By Application, 2021 - 2031 (USD Million)
      1. Industrial Automation
      2. Consumer Electronics
      3. Automotive
      4. Medical Devices
    4. Permanent Magnet Stepper Motors Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. MOONS' Electric Co., Ltd.
      2. MinebeaMitsumi Inc.
      3. Oriental Motor Co., Ltd.
      4. Nidec Corporation
      5. ABB Ltd.
      6. Schneider Electric SE
      7. Rockwell Automation, Inc.
      8. Siemens AG
      9. Fanuc Corporation
      10. Yaskawa Electric Corporation
      11. SANYO DENKI Co., Ltd.
      12. Toshiba Corporation
      13. Applied Motion Products, Inc.
      14. Nanotec Electronic GmbH & Co. KG
      15. Lin Engineering
  7. Analyst Views
  8. Future Outlook of the Market