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ELECTRONICS & SMART DEVICES

Incremental Encoders Market Analysis by Type (Quadrature Incremental Encoder, Optical Incremental Encoder, and Magnetic Incremental Encoder); and by Application {Heavy Duty (Paper, Steel, and Wood Production), Industrial Duty (Food and Beverage Industry, Textile, General Factory Automation), Light Duty (Robotics, Electronics, and Semiconductors)} – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • TE Connectivity (TE) - introduced the KMA36 Magnetic Encoder IC, based on Anisotropic Magnetoresistive (AMR) technology. It is a precise universal magnetic Encoder IC for rotational or linear measurement with resolution up to 15bit. It offers a sleep mode (reduced power) over I²C and programmable parameters, providing options for a wide range of configurations.
  • Renishaw PLC - launched the QUANTiC encoder series for linear axes which offers exceptionally wide installation tolerances and axis speeds of up to 24 m/s. This new encoder family produces a digital signal output directly from the readhead and eliminates the requirement for additional bulky external interfaces. This ground-breaking approach was first used for Renishaw's advanced VIONiC encoders.

Global Incremental Encoders Market Size, Forecast, and Trend Highlights Over 2022 - 2031

                    Base Year

2021

Forecast Year

2022-2031

CAGR

~10%

The global incremental encoders market is estimated to garner a moderate revenue by the end of 2031 by growing at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. Further, the market generated a modest revenue in the year 2021. The growth of the market can primarily be attributed to the growing demand for incremental encoders for the airborne systems as well as flight simulators with the rise in the aerospace industry worldwide. For instance, it was found that, the revenue of global commercial aerospace and defense (A&D) industry accounted for more than USD 700 billion in 2021.

Incremental-Encoders-Market-Size

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An encoder is a sensing device that provides feedback. Encoders convert motion to an electrical signal that can be read by some type of control device in a motion control system. Encoders are used in machinery for motion feedback and motion control. They are found in machinery in all industries. The encoder sends a feedback signal that can be used to determine position, count, speed, or direction. A control device can use this information to send a command for a particular function. An incremental encoder is a type of encoder device that converts angular motion or position of a shaft into an analog or digital code to identify position or motion. Incremental encoders are one of the most commonly used rotary encoders. It has two output signals, A and B, which issue pulses when the device is moved. Together, the A and B signals indicate both the occurrence of and direction of movement. Incremental encoders are used in positioning and motor speed feedback applications which includes servo/light, industrial or heavy-duty applications. An incremental encoder provides excellent speed and distance feedback and, since there are few sensors involved, the systems are both simple and inexpensive. The demand for incremental encoders is on the rise amongst the automotive industry, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global incremental encoders market during the forecast period. It is estimated that the unit sales volumes of the automotive industry to be around 78 million units in 2022 worldwide.

Global Incremental Encoders Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Textile IndustriesTextile industries is driving the demand for incremental encoders. In textile manufacturing machinery, encoders provide critical feedback for speed, direction, and distance. Hence, with the boom in the textile industry in the forecasted period, the demand for incremental encoders is also expected to escalate. It was found that, in the year 2021, the Indian textile industry was valued at more than USD 220 billion.

  • Increasing Investment in Robotics – In 2021, robotic startup investments accounted for over USD 17 billion.

  • Increasing Automation in Manufacturing IndustryAs automating different tasks can raise productivity to grow at ~1.4% annually. It was estimated that, by 2030, the use of automation in 3 key industries including manufacturing will contribute more than USD 15.5 trillion to the world economy.
  • Upsurge in the Food and Beverages Industry The output of India’s food processing sector is expected to be more than USD 500 billion by 2025-26.

Challenges

  • Possibility of Losing the Results Without Electrical Supply

  • Monitors only Distance or Speed

  • Concern about Setting a Reference Point

The global incremental encoders market is segmented and analyzed for demand and supply by type into quadrature incremental encoder, optical incremental encoder, and magnetic incremental encoder. Amongst these segments, the quadrature incremental encoder segment is anticipated to garner the largest revenue by the end of 2031, backed by the growing sale of mice and trackballs along with the surge in the sale of personal computers (PC) worldwide. For instance, it was found that, more than 72 million PCs were shipped globally in the second quarter of 2022.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Research-and-Development-Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Incremental Encoders Market Regional Synopsis

Regionally, the global incremental encoders market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031, backed by the presence of a strong maritime network in the region, growing number of jobs on ports, as well as the rising economy generated from marine transportation. For instance, as per the 2022 data, ports in the United States support over 13 million jobs, whereas ships move ~USD 1.5 trillion in and out of the country's ports annually. Also, also ~75% of all trade involves some form of marine transportation in the United States.

Incremental-Encoders-Market

The global incremental encoders market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global incremental encoders market includes the following segments:

By Type

  • Quadrature Incremental Encoder
  • Optical Incremental Encoder
  • Magnetic Incremental Encoder

By Application

  • Heavy Duty
  • Paper
  • Steel
  • Wood Production
  • Industrial Duty
  • Food and Beverages Industry
  • Textile
  • General Factory Automation
  • Light Duty
  • Robotics
  • Electronics
  • Semiconductors

Top Featured Companies Dominating the Global Incremental Encoders Market

  •  TE Connectivity Corporation (TE)

    • Company Overview

    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
    • British Encoder Products Company
    • Omron Corporation
    • Renishaw PLC
    • Encoders UK LTD
    • Newall Electronics, Inc.,
    • Dynapar Corporation
    • Fraba B.V.
    • Gurley Precision Instruments Inc.
    • Sensata Technologies Inc.

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