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Encoder Market Share

Report ID: GMI6985
Published Date: Oct 2023
Report Format: PDF

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Encoder Market Share

The encoder industry is highly competitive owing to the presence of key players such as:

HEIDENHAIN
Renishaw plc
Rockwell Automation, Inc.
Schneider Electric
TE Connectivity
Mitutoyo Corporation
Omron Corporation

Significant investments in R&D to gain technological competitiveness and aggressive business strategies including technological launches, collaborations & long-term agreements with clients to capture market share are positively impacting market growth.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for encoder was valued at USD 2.57 million in 2022 and is estimated to register a CAGR of over 9% between 2023 and 2032, owing to the rising need for high-end automation across industries.

The rotary segment generated over USD 1.5 million in 2022 and is expected to register a CAGR of about 9% through 2032, as these encoders are versatile and can be used in simple tasks such as volume control in consumer electronics to complex tasks in industrial automation and CNC machinery.

Asia Pacific held a significant market share of over 38.5% in 2022 and is experiencing robust growth due to the expanding manufacturing sector in countries such as China and India.

HEIDENHAIN, Renishaw plc, Rockwell Automation, Inc., Schneider Electric, TE Connectivity, Mitutoyo Corporation, and Omron Corporation.