Rotary Encoder Market Analysis

Application (Metal Forming & Fabrication, Servo Motor, Elevator Industry, Machine Tool, Material Handling)

The machine tool segment in the rotary encoder market is anticipated to hold the largest share of about 40% during the forecast period. Rotary encoders are employed in machine tool applications to achieve precise sensing and positioning. The precise axis alignment and commutation angle can be found by a machine. Rotating encoders help machines operate at their best and increase system accuracy as a result. Because of these reasons, it is heavily utilized in this application. The strong acceptance rate and rising demand are expected to fuel the robotics segment's significant growth. According to the International Federation of Robotics (IFR), factories worldwide are expected to install almost 2 million industrial robots between 2020 and 2022. Because rotary encoders are widely used in robotics, these reasons are expected to increase demand for them.

End-User Industry (Automotive, Aerospace, Electronics, Healthcare, Manufacturing, Packaging)

Rotary encoder market from the manufacturing segment is projected to hold the largest share of about 30% during the forecast period. Encoders used in manufacturing applications that are frequently exposed to fluids, dust, or humidity. Encoder housings that can withstand corrosive and toxic substances can be used in manufacturing. Temperature resistance and stainless-steel housings are required. Encoders are necessary for production lines' machinery to provide accuracy, dependability, compactness, and compatibility with a range of improved machines. Furthermore, the market growth rate is expected to increase due to the notable implementation of rotary encoders for speed control applications in the automotive sector. The market growth rate is expected to increase due to the notable increase in expansions. Toyota declared in January 2020 that it would invest USD 700 million to expand its US manufacturing facility. Toyota Motor Corporation said in September 2019 that it would invest USD 190 million to expand its factory in Brazil in order to improve output.

Our in-depth analysis of the global rotary encoder market includes the following segments: