Rising Number of Cars Drive the Demand for Encoder Market

The growing number of automobiles on the road, as well as increased production of car parts, are driving the growth of the encoder market. Automakers are increasingly using encoders in vehicle manufacturing because they provide real-time speed, acceleration, and rotational position information to the automated guided vehicle controller. Encoders are increasingly being used in car manufacturing by automakers due to the rapid development in vehicle automation to improve the customer experience.

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Data Bridge Market Research analyses that the encoder market is expected to grow at a CAGR of 8.7% in the forecast period of 2020 to 2027 and is expected to reach USD 3,048.23 million by 2027.

Encoder Market

Rise in the demand for high-end automation across industries is expected to drive the market's growth rate

The encoders are used in automation which provides the precise speed and direction to ensure that whatever the motor is driving operates safely and smoothly. The manufacturers across industries have been the primary demand driver for encoders, which will further accelerate market growth.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2020 to 2027

Base Year

2019

Historic Years

2018 (Customizable to 2012 - 2017)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

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)

Countries Covered

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

Market Players Covered

Rockwell Automation, Inc. (U.S.), Dynapar (a subsidiary of Fortive) (U.S.), OMRON Corporation (Japan), Baumer (Switzerland), ifm electronic gmbh (Germany), Sensata Technologies, Inc. (U.S.), FAULHABER MICROMO, LLC (U.S.), Pilz GmbH & Co. KG (Germany), YUEQING YUMO ELECTRIC CO.,LTD (China), Hans Turck GmbH & Co. KG (Germany), Hengstler GmbH (a subsidiary of Fortive) (Germany), POSIC SA (Switzerland), Micronor LLC (a subsidiary of Photon Control Inc.) (U.S.), Wachendorff Automation GmbH & Co. KG (Germany), Renishaw plc (U.K.), HEIDENHAIN (Germany), Celera Motion (a subsidiary of Novanta Inc.) (U.S.), maxon motor ag (Switzerland), HONTKO CO., LTD. (Taiwan), FRABA B.V. (Netherlands), Pepperl+Fuchs (Germany), and SIKO GmbH (Germany), among others

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Segment Analysis:

Global encoder market is segmented into six notable segments which are based on 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. In 2020, rotary segment is expected to dominate the global encoder market with 77.74% market share owing to 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 2020, non-contacting segment is expected to dominate the global encoder market with 93.12% market share owing to 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.  
  • On the basis of output, global encoder market has been segmented into analog and digital.

In 2020, digital segment is expected to dominate the global encoder market

Digital segment is expected to dominate the global encoder market with 94.75% market share owing 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. In 2020, hollow shaft encoders segment is expected to dominate the global encoder market with 85.80% market share because it is 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. In 2020, 31 mm – 70 mm segment is expected to dominate the global encoder market with 54.63% market share because it is majorly adopted 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 2020, industrial segment is expected to dominate the global encoder market

Industrial segment is expected to dominate the global encoder market with 26.15% market share due to enhancement in rapidly growing technologies such as robotics and automation. Moreover, compact size and low cost feedback along with its ability to integrate in new and existing applications is further accelerating the growth of encoders in various industries.

Major Players

Data Bridge Market Research recognizes the following companies as the major encoder market players in encoder market are Rockwell Automation, Inc. (U.S.), Dynapar (a subsidiary of Fortive) (U.S.), OMRON Corporation (Japan), Baumer (Switzerland), ifm electronic gmbh (Germany), Sensata Technologies, Inc. (U.S.), FAULHABER MICROMO, LLC (U.S.), Pilz GmbH & Co. KG (Germany), YUEQING YUMO ELECTRIC CO.,LTD (China), Hans Turck GmbH & Co. KG (Germany), Hengstler GmbH (a subsidiary of Fortive) (Germany), POSIC SA (Switzerland), Micronor LLC (a subsidiary of Photon Control Inc.) (U.S.), Wachendorff Automation GmbH & Co. KG (Germany), Renishaw plc (U.K.), HEIDENHAIN (Germany), Celera Motion (a subsidiary of Novanta Inc.) (U.S.), maxon motor ag (Switzerland), HONTKO CO., LTD. (Taiwan), FRABA B.V. (Netherlands), Pepperl+Fuchs (Germany), and SIKO GmbH (Germany), among others

Encoder Market

Market Development

  • In February 2020, a new multi-unit axle encoder product for the railway industry launched by Baumer company. BPIV2 is a new device with one sensor and four multi-unit axle encoders offering safe and quick installation.
  • In January 2019, new Absolute Multi-Turn encoder product introduced by Sensata Technologies, Inc. for the smart industrial application. New MHM5 and MHK5 Absolute Multi-Turn encoders are introduced to support the Factory 4.0 applications, which are compatible with Ethernet/IP or ProfiNet interfaces.
  • In June 2020, Celera Motion (a Novanta Inc. subsidiary) introduced new inductive-based small ultra-range encoders. Even in harsh conditions, it is used for precise angle or angular speed measurements. The company's income increased thanks to new ultra-compact, ultra-light, and highly stable encoders.

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 2020 - 2027

In 2019, North America dominated the encoder market owing to the increased in the adoption of robots. Furthermore, the presence of major key players will boost the region's encoder market growth during the forecast period.

Asia-Pacific is estimated to be the fastest growing region in encoder market the forecast period 2020 - 2027

Asia-Pacific is expected to grow during the forecast period owing to the increase in the industrial automation. Furthermore, the growing demand for compact-sized devices to adopt advanced technology is expected to drive the growth of the encoder market.

COVID-19 Impact Analysis

COVID-19 positively impacted the encoder market due to an increase in the number of industry verticals adopting security tools during COVID-19's outbreak. Encoder technology was being used by a variety of industries, including consumer electronics and aerospace, to standardize and secure data, because of increased awareness about the potential benefits of hardware encryption and increased automation in various industry verticals, the encoder market is expected to grow rapidly in the post-pandemic scenario.

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