Increase in Industrial Automation Expected to Drive Global Rotary Encoders Market over the Forecast Period: Ken Research
Rotary encoder is an electro-mechanical device that converts the angular motion of shaft in a digital or analog code which depends on the rotational movement. It is also known as shaft encoder. It is generally being attached with a microprocessor. It is classified on the basis of two factors: sensing technology and output signal. It is frequently used to track the path of a motor shaft on permanent magnet motors that are generally used in industrial controls, special purpose photographic lenses, computer input devices, controlled stress rheometers, robotics, and rotating radar platforms. Rotary encoder is also used for sensing in countless applications. It is applied on various machines ranging from elevators, consumer electronics, and conveyor speed monitoring to position administration on automated industrial machines. It traces the turning of motor shafts to produce digital position & motion related data.
According to study, “Global Rotary Encoders Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global rotary encoders market are Heidenhain, Baumer, Danaher, Leine & Linde, Tamagawa, TR Electronic, Nemicon, Omron, P+F, Rep Avago, Kubler, Yuheng Optics, Koyo, BEI, Sick. Key players are increasingly experiencing accomplishments owing to various factors such as technology-based solutions, high investments in research & developmental activities (R&D), and the ability to provide customized rotary encoders.
Based on type, rotary encoders market is segmented into incremental rotary encoders and absolute rotary encoders (optical absolute rotary encoders, mechanical absolute rotary encoders and magnetic absolute rotary encoders). The output of incremental encoders gives data & information concerning the motion of the shaft, which is generally processed later on into information like distance, speed, and position. Whereas, the output of absolute encoders usually shows the existing position of the shaft, eventually giving rise to angle transducers. Based on turn type, market is segmented into single-turn and multi-turn. Multi-turn rotary device provides actual position over multiple revolutions as well as incorporates internal gearing and are the most bulky & expensive solution. Based on marketing channel, market is segmented into direct marketing, indirect marketing and rotary encoder customers. In addition, based on application, market is segmented into elevator industry, motor, machine tool, food & packaging and others.
The rotary encoders market is driven by increase in industrial automation, followed by rise in use of rotary encoders in automobiles sector and growth in adoption of rotary encoders in aerospace industries. However, lack of product differentiation may impact the market. Moreover, rise in demand for electronic position sensing devices across several industry verticals is a key opportunity for market.
Based on geography, the European region holds major share in rotary encoders market owing to various application across different industries such as robotics, machine tools, material handling, and others in the region. Whereas, the Asian-Pacific and North-American regions are estimated to witness higher growth rate due to growth in technologies in automotive industry over the forecasts period. The worldwide market is projected to grow at a CAGR of approximately 8.9% over the next five years, will reach US $2480 million in 2024, from US $1490 million in 2019.
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Ankur Gupta, Head Marketing & Communications