Global Encoder Market Segmentation, By Type (Rotary, Linear), Product Type (Non-Contacting, Contacting), Output (Digital, Analog), Size (31 mm-70 mm, Less than 30 mm, 71 mm-100 mm, More than 100 mm), Design (Hollow Shaft Encoders, Solid Shaft Encoders), End User (Industrial, Automotive, Aerospace, Medical, Printing, Food and Beverage, Oil and Gas, Consumer Electronics, Textile, Others) - Industry Trends and Forecast to 2031
Encoder Market Analysis
Encoders assist industry in determining the exact location of any object as well as the angle at which certain pieces of equipment should be placed in order to achieve the desired outcomes. The encoders ensure workflow precision, operational speed, and process management. It also aids in the execution of high-feeding activities in the manufacturing industry, as well as the development of machine tools that fulfil the demand for high productivity.
Encoder Market Size
Global encoder market size was valued at USD 2.81 billion in 2023 and is projected to reach USD 6.24 billion by 2031, with a CAGR of 10.5% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Encoder Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Dynapar (US), OMRON Corporation (Japan), Baumer (Switzerland), ifm electronic gmbh (Germany), Sensata Technologies, Inc. (US), FAULHABER GROUP (US), Pilz GmbH & Co. KG (Germany), YUEQING YUMO ELECTRIC CO.,LTD (China), Hans Turck GmbH & Co. KG (Germany), Hengstler GmbH (Germany), POSIC (Switzerland), Micronor Sensors (US), Wachendorff Automation GmbH & Co. KG (Germany), Renishaw plc. (UK), HEIDENHAIN (Germany), Celera Motion (US), maxon. (Switzerland), HONTKO CO., LTD. (Taiwan), FRABA B.V. (Netherlands), Pepperl+Fuchs (Germany), and SIKO GmbH (Germany), among others
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Market Opportunities
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Encoder Market Definition
Encoders are components that are added to a direct current motor to transform mechanical motion into digital pulses that the integrated control electronics can understand. The primary function of encoders is to convert data from one format to another for purposes of standardisation, speed control, and safety.
Encoder Market Dynamics
Drivers
Major factors that are expected to boost the growth of the encoder market in the forecast period are as follows:
- Rise in the demand for high-end automation across industries
Since encoders are used in automation to offer exact speed and direction to ensure that whatever the motor is driving operates safely and smoothly, the requirement for automation by manufacturers across industries has been the primary demand driver for encoders which will further accelerate the market growth.
- Rising number of cars
The expansion of the encoder market is fueled by the increasing number of automobiles on the road and the increased production of car parts. Encoders are increasingly used in car manufacturing by automakers as they provide real-time speed, acceleration, and rotational position information to the automated guided vehicle controller. With the rapid development in vehicle automation to improve the customer experience, encoders are increasingly used in car manufacturing by automakers.
- Growing digitisation in the healthcare sector
Encoders help in the development of new lab processes as well as reducing the danger of medical errors. The usage of rotary encoders in precise medical imaging via CT and MRI equipment is also driving market development.
Opportunities
In addition, the growing demand for artificial intelligence-based systems and emerging technologies in automotive industry is further estimated to provide potential opportunities for the growth of the encoder market in the coming years.
Restraints/Challenges
On the other hand, the concerns regarding the accuracy and differences in international regulations is further projected to impede the growth of the encoder market in the targeted period. However, the mechanical catastrophes in the severe environments which might further challenge the growth of the encoder market in the near future.
This encoder market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the encoder market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Encoder Market
COVID-19 had a positive impact on the encoder market due to the rise in number of industry verticals adopting security tools during the outbreak of COVID-19. Numerous industries, especially consumer electronics, along with aerospace was deploying encoder technology for standardisation and safety of data. The encoder market is expected to witness high growth in the post-pandemic scenario owing to the rise in awareness regarding the potential benefits of hardware encryption and increase in automation in various industry verticals.
Encoder Market Scope
The encoder market is segmented on the basis of type, product type, output, size, design and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Rotary
- Linear
Product Type
- Non-Contacting
- Contacting
Output
- Digital
- Analog
Design
- Hollow Shaft Encoders
- Solid Shaft Encoders
Size
- 31 mm - 70 mm
- Less than 30 mm
- 71 mm - 100 mm
- More than 100 mm
End User
- Industrial
- Automotive
- Aerospace
- Medical
- Printing
- Food and Beverage
- Oil and Gas
- Consumer Electronics
- Textile
- Others
Encoder Market Regional Analysis
The encoder market is analysed and market size insights and trends are provided by country, type, product type, output, size, design and end user as referenced above.
The countries covered in the encoder market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
North America dominates the encoder market due to the rise in the adoption of robots. Furthermore, the occurrence of major key players will further boost the growth of the encoder market in the region during the forecast period.
Asia-Pacific is projected to observe significant amount of growth in the encoder market due to the rise in the industrial automation. Moreover, the growing need for the compact sized devices to adopt advanced technology which is further anticipated to propel the growth of the encoder market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Encoder Market Share
The encoder market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to encoder market.
Encoder Market Leaders Operating in the Market Are:
- Rockwell Automation, Inc. (US)
- Dynapar (US)
- OMRON Corporation (Japan)
- Baumer (Switzerland)
- ifm electronic gmbh (Germany)
- Sensata Technologies, Inc. (US)
- FAULHABER GROUP (US)
- Pilz GmbH & Co. KG (Germany)
- YUEQING YUMO ELECTRIC CO.,LTD (China)
- Hans Turck GmbH & Co. KG (Germany)
- Hengstler GmbH (Germany)
- POSIC (Switzerland)
- Micronor Sensors (US)
- Wachendorff Automation GmbH & Co. KG (Germany)
- Renishaw plc. (UK)
- HEIDENHAIN (Germany)
- Celera Motion (US)
- maxon. (Switzerland)
- HONTKO CO., LTD. (Taiwan)
- FRABA B.V. (Netherlands)
- Pepperl+Fuchs (Germany)
- SIKO GmbH (Germany)
Latest Developments in Encoder Market
- In June 2020, Celera Motion (a Novanta Inc. subsidiary) has introduced new inductive-based small ultra-range encoders. Even in hostile conditions, it is employed for precise angle or angular speed measurements. New ultra-compact, ultra-light, and highly stable encoders aided the company in increasing income.
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