Aug 7, 2019   SOURCE: BusinessWire

Global $2.4Bn Encoders Market Outlook to 2024 - Key Players are Heidenhain, Posital Fraba, Sensata Technologies, Dynapar Corporation, and Baumer Group - ResearchAndMarkets.com

The "Encoders Market by Type (Linear and Rotary), Technology (Optical, Magnetic, and Others), End Use (Automotive, Consumer Electronics, Industrial, Food & Beverage, Medical, Printing, and Others), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The encoders market was valued at USD 1.5 billion in 2018 and is projected to reach USD 2.4 billion by 2024, at a CAGR of 8.6% from 2019 to 2024.

The encoders market is segmented into type, technology type, end-use, and geography. The market based on type is further classified into linear and rotary. The encoders market, by technology type, is further segmented into optical, magnetic, and others. The market, by end-use, is segmented into automotive, consumer electronics, industrial, food & beverages, medical, printing, textile, and others.

Heidenhain (Germany), Posital Fraba (Germany), Sensata Technologies (US), Dynapar Corporation (US), and Baumer Group (Switzerland) are among the major players in the encoders market.

Encoders market to grow at a significant rate from 2019 to 2024

Key factors driving the growth of the encoders market include the need for high-end automation and industry 4.0. Strategies such as product launches adopted by market players are fueling the growth of the encoders market. However, the adoption of inorganic strategies by established players is creating intense competition for new entrants and restricting the growth of the market.

Rotary encoders to account for the largest market size from 2019 to 2024

The rotary encoders type is expected to account for the largest share of the encoders market during the forecast period. Rotary encoders are used for position sensing across various applications; for example, on motors paired with drives and automated machinery in consumer electronics, elevators, conveyor speed monitors, industrial machines, and robotics. The future growth of this segment is attributed to the use of rotary encoders in industrial and commercial designs due to their durability and excellent performance.

APAC to be the fastest-growing market for encoders from 2019 to 2024

The encoders market in APAC is likely to witness the highest CAGR during the forecast period. Increasing manufacturing facilities across various industries in this region and growing adoption of automation techniques and robotics in manufacturing plants are among the factors that are expected to drive the demand for encoders in this region. In addition, the concept of autonomous, electric, and connected cars has enabled the growth of the automotive sector in APAC, especially in China. The automotive industry here has been growing rapidly, and the country is playing an increasingly important role in the global automotive market.

Key Topics Covered

1 Introduction

1.1 Study Objectives

1.2 Definition

1.3 Study Scope

1.4 Currency

1.5 Package Size

1.6 Market Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Size Estimation

2.3 Market Breakdown and Data Triangulation

2.4 Research Assumptions

3 Executive Summary

4 Premium Insights

4.1 Attractive Growth Opportunities in Encoders Market

4.2 Encoders Market, By Technology

4.3 Encoders Market in APAC, By Country and Industry

4.4 Encoders Market, By End Use

4.5 Encoders Market, By Country (2018)

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Need for High-End Automation Across Industries

5.2.1.2 Industry 4.0

5.2.2 Restraints

5.2.2.1 Problems With Accuracy

5.2.2.2 Varying International Regulations

5.2.3 Opportunities

5.2.3.1 Increasing Demand for Artificial Intelligence-Based Systems

5.2.3.2 Upcoming Technologies in Automotive Industry

5.2.4 Challenges

5.2.4.1 Mechanical Failure in Harsh Environments

5.3 Value Chain Analysis

6 Encoders Market, By Type

6.1 Introduction

6.2 Linear Encoders

6.2.1 Incremental

6.2.1.1 Incremental Linear Array Gained Traction as It is Widely Used for Machine Control, Automated Processes, and Pick and Place Operations

6.2.2 Absolute

6.2.2.1 Absolute Linear Array Gained Traction as It is Widely Used for CNC/PLC Feedback, Pick and Place Machines, Automotive Transfer Lines

6.3 Rotary Encoders

6.3.1 Incremental

6.3.1.1 Incremental Array to Dominate the Rotary Encoder Market During the Forecast Period

6.3.2 Absolute

6.3.2.1 Absolute Rotary Array Plays One of the Most Significant Roles in Encoder Market

7 Encoders Market, By Technology Type

7.1 Introduction

7.2 Optical

7.2.1 Optical Encoders Plays One of the Most Significant Roles in the Market

7.3 Magnetic

7.3.1 Magnetic Encoders to Witness A Significant Growth in the Market

7.4 Others

8 Encoders Market, By End Use

8.1 Introduction

8.2 Automotive

8.2.1 Automotive End-Use to Witness A Significant Growth in the Encoder Market

8.3 Consumer Electronics

8.3.1 APAC to Dominate the Encoder Market for Consumer Electronics End-Use During the Forecast Period

8.4 Industrial

8.4.1 Industrial End-Use to Dominate the Encoder Market During the Forecast Period

8.5 Food & Beverage

8.5.1 Food & Beverage End-Use to Witness A Significant Growth in the Encoder Market During the Forecast Period

8.6 Medical

8.6.1 Medical End-Use is Expected to Witness A Significant Growth for Forecast Period

8.7 Printing

8.7.1 North America to Drive Encoder Market for Printing End-Use

8.8 Textile

8.8.1 Weaving, Knitting, Printing, and Extruding are Key Application Areas of Encoders for Textile End-Use

8.9 Others

9 Geographic Analysis

9.1 Introduction

9.2 North America

9.2.1 US

9.2.1.1 Robotics and Production Automation to Drive the Market for Encoders in the Us

9.2.2 Canada

9.2.2.1 Growth in the Automotive Industry Drives Encoders Market in Canada

9.2.3 Mexico

9.2.3.1 Growing Consumer Electronics Industry Drives Encoders Market in Mexico

9.3 Europe

9.3.1 Germany

9.3.1.1 Increasing Use of Robotics Drives the Encoders Market in Germany

9.3.2 UK

9.3.2.1 UK to Hold the Largest Share of the Encoders Market in Europe

9.3.3 France

9.3.3.1 Manufacturing Sector in France to Boost Encoders Market Growth

9.3.4 Rest of Europe

9.4 APAC

9.4.1 China

9.4.1.1 China to Hold the Largest Share of Encoders Market in APAC

9.4.2 Japan

9.4.2.1 Motor Vehicle Manufacturing in Japan is Driving the Encoders Market

9.4.3 India

9.4.3.1 Textile and Automotive Industries Drive the Encoders Market in India

9.4.4 Rest of APAC

9.5 RoW

9.5.1 South America

9.5.1.1 Growth in the Mining Industry to the Drive Encoders Market in South American Countries

9.5.2 Middle East

9.5.2.1 Automation in the Middle East Will Lead to Increasing Demand for Encoders

9.5.3 Africa

9.5.3.1 Automobile Manufacturing Industry Will Drive the Encoders Market in Africa

10 Competitive Landscape

10.1 Overview

10.2 Market Rank Analysis

10.3 Competitive Situation and Trends

10.3.1 Product Launches

10.3.2 Mergers & Acquisitions

10.3.3 Agreements

10.4 Competitive Leadership Mapping

10.4.1 Visionary Leaders

10.4.2 Innovators

10.4.3 Dynamic Differentiators

10.4.4 Emerging Companies

10.5 Strength of Product Portfolio (For 25 Players)

10.6 Business Strategy Excellence (For 25 Players)

11 Company Profiles

11.1 Introduction

11.2 Key Players

11.2.1 Baumer Group

11.2.2 Sensata Technologies

11.2.3 Dynapar Corporation

11.2.4 Omron Automation

11.2.5 Rockwell Automation Inc.

11.2.6 Faulhaber Group

11.2.7 Posital-Fraba Inc.

11.2.8 Heidenhain GmbH

11.2.9 IFM Electronic GmbH

11.2.10 Maxon Motor AG

11.3 Other Important Players

11.3.1 Pepperl+Fuchs

11.3.2 Pilz GmbH Co. KG

11.3.3 Posic

11.3.4 Renishaw PLC

11.3.5 Siko GmbH

11.3.6 Turck Banner Singapore PTE Ltd

11.3.7 Wachendorff Automation GmbH + Co KG

11.3.8 Nidec Corporation

11.3.9 Micronor Inc.

11.3.10 US Digital

For more information about this report visit https://www.researchandmarkets.com/r/dfuiq