Incremental Encoders Market Share

North American Market Forecast

The North America incremental encoders market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036, backed by the presence of a strong maritime network in the region, a 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.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of incremental encoders is estimated at USD 3.63 Billion.

The incremental encoders market size was over USD 3.3 Billion in 2023 and is set to cross USD 11.39 Billion by the end of 2036, growing at more than 10% CAGR during the forecast period i.e., between 2024-2036. The upsurge in the aerospace & defense industry as well as rise in the automotive industry sales along with growing automation in manufacturing sector are some of the major factors anticipated to drive the growth of the market.

North America is projected to account for largest industry share by 2036, backed by presence of a strong maritime network in the region, a growing number of jobs on ports, as well as the rising economy generated from marine transportation.

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.

Incremental Encoders Market Share