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.
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Data Bridge Market Research analyses that the Encoder Market was valued at USD 2.3 billion in 2021 and is expected to reach USD 5.11 billion by 2029, registering a CAGR of 10.5% during the forecast period of 2022-2029. The increasing adoption of automation across various industries, coupled with the emergence of Industry 4.0, has fueled the demand for encoders. Encoders play a crucial role in providing precise position, speed, and motion feedback in automated systems, enabling accurate control and monitoring of machinery and processes.
Key Findings of the Study
Increasing adoption of motor drive systems is expected to drive the market's growth rate
Motor drive systems are widely used in various industries, including automotive, consumer electronics, and energy. Encoders are essential components in motor drive systems, providing feedback on motor speed, position, and direction. The growing adoption of motor drive systems across industries has positively impacted the demand for encoders.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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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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Market Players Covered
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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 (U.S.), Wachendorff Automation GmbH & Co. KG (Germany), Renishaw plc. (U.K.), HEIDENHAIN (Germany), Celera Motion (U.S.), maxon. (Switzerland), HONTKO CO., LTD. (Taiwan), FRABA B.V. (Netherlands), Pepperl+Fuchs (Germany), and SIKO GmbH (Germany), among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The encoder market is segmented on the basis of the type, product type, output, size, design and end- user.
- On the basis of type, global encoder market has been segmented into linear and rotary. Rotary segment is expected to dominate the global encoder market with a CAGR of 9.2% in the forecast period of 2022-2029 due to the increased demand from the industrial automation purpose. The accuracy and speed management capabilities are helping the segment to dominate the encoder market.
- On the basis of product type, global encoder market has been segmented into contacting and non-contacting. In 2022, non-contacting segment is expected to dominate the global encoder market with a CAGR of 8.9% in the forecast period of 2022 to 2029 due to strong penetration in the market for wide range of applications.
In 2022 non-contacting segment is expected to dominate the product type segment of the global encoder market
In 2022, non-contacting segment is expected to dominate the global encoder market owing to the strong penetration in the market for wide range of applications. The accuracy offered by the encoders and lower cost than non-contacting encoders is helping the encoder market to grow. The non-contacting segment of the market share is expected to reach growing with the highest CAGR of 8.9% in the forecast period of 2022-2029
- On the basis of output, global encoder market has been segmented into analog and digital. Digital segment is expected to dominate the global encoder market with a CAGR of 8.9% in the forecast period of 2022-2029 due to the increasing digitalization of the machinery, plants and other equipment. The digital signal offers enhanced performance results for the better position application.
- On the basis of design, global encoder market has been segmented into solid shaft encoders and hollow shaft encoders. Hollow shaft encoders segment is expected to dominate the global encoder market with a CAGR of 9.0% in the forecast period of 2022-2029 due to more versatile and more flexible to install. In addition to it, they also prevent deformations from shocks and vibrations and do not need extra couplings to adapt to mechanical tolerances.
- On the basis of size, global encoder market has been segmented into less than 30 mm, 31 mm – 70 mm, 71 mm – 100 mm and more than 100 mm. 31 mm – 70 mm segment is expected to dominate the global encoder market with a CAGR of 8.6% in the forecast period of 2022-2029 due to adoption by the industrial and automotive applications.
- On the basis of end-user, global encoder market has been segmented into industrial, automotive, aerospace, oil and gas, food and beverage, printing, consumer electronics, textile, medical and others. In 2022, industrial segment is expected to dominate the global encoder market with a CAGR of 9.2% in the forecast period of 2022-2029 to low cost feedback along with its ability to integrate in new and existing applications.
In 2022 industrial segment is expected to dominate the end-user segment in the global encoder market
In 2022, industrial segment is expected to dominate the global encoder owing to the low cost feedback along with its ability to integrate in new and existing applications is further accelerating the growth of encoders in various industries.The industrial segment of the market share is expected to reach growing with the highest CAGR of 9.2% in the forecast period of 2022-2029
Major Players
Data Bridge Market Research recognizes the following companies as the major encoder market players in encoder market are Dynapar (U.S.), OMRON Corporation (Japan), Baumer (Switzerland), ifm electronic gmbh (Germany), Sensata Technologies, Inc. (U.S.), FAULHABER GROUP (U.S.), Pilz GmbH & Co. KG (Germany), YUEQING YUMO ELECTRIC CO.,LTD (China), Hans Turck GmbH & Co. KG (Germany), Hengstler GmbH (Germany)
Market Development
- In 2022, the hollow shaft ENI90 series incremental rotary encoder was introduced by Pepperl+Fuchs. These rotary encoders are small and strong and can withstand rotational speeds of up to 6,000 rpm while providing maximum precision for any standard or heavy-duty application.
- In 2021, the new bearingless encoder EB200E from Baumer can be integrated on any axis without requiring complicated mechanical adaptation. The encoder is a cutting-edge smart incremental encoder with IO-Link, which replaces additional hardware components and offers speed monitoring functionality.
- In 2021, when speed/rotary movements, angular velocity, length, or positions need to be recorded, Balluff Inc. has introduced rotary encoders. The mechanical movements are converted into digital electrical signals by these encoders.
- In 2021, The BML SF2 magnetic safety encoder system was introduced by Balluff Inc. for uses in specialized machine construction for cutting and forming machines.
- In 2020, new inductive-based small ultra-range encoders have been released by Celera Motion, a Novanta Inc. subsidiary. It is used to measure angles or angular speeds precisely even in hostile environments. The development of new ultra-compact, ultra-light, and highly stable encoders helped the business increase revenue.
- In 2020, Baumer Company launched new multi-unit axle encoder product for the railway industry. BPIV2 is a new device having one sensor and four multi-unit axle encoders offering the safe and quick installation. New encoders offer the precise wheel speed information for better control. Through this, the company increased their product offering and sale for the market.
Regional Analysis
Geographically, the countries covered in the encoder market report are 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.
As per Data Bridge Market Research analysis:
North America is the dominant region in encoder market during the forecast period 2022 - 2029
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 estimated to be the fastest growing region in encoder market the forecast period 2022 - 2029
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.
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