Rotary Encoder Market Share

APAC Market Forecast

Rotary encoder market in the Asia Pacific region is expected to hold largest share of about 33% during the forecast period. The sector is growing significantly due to the quest for better manufacturing process solutions and rising industrialization. Asia is home to numerous sizable industrial hubs, including those in China, Japan, and India. Enhanced manufacturing capabilities and agreements for services with businesses are two other elements propelling industry growth. Market expansion has been expedited by the introduction of new products into the marketplace as a result of heightened competition. The Chinese government's Made in China 2025 initiative and other programs promote the utilization of R&D in factory automation and technologies, as well as investments in those fields. Additionally, as most automation equipment is imported from Germany and Japan, the "Made in China" project aims to enhance the country's local manufacturing of automation hardware and equipment. The government's actions in the automation industry will push the market being studied. With more than 300,000 industrial robots in use, Japan boasts the highest robot density per manufacturing employee in the world. Numerous industries, including the automotive, electronics, and healthcare sectors, use these robots.

North American Market Statistics

Rotary encoder market in North America region is attributed to hold second largest share of about 27% during the forecast period. The growing use of rotary encoders in the automobile industry is the main driver generating demand for them. They work in the automotive industry with the steering, throttle, and gear positions. Another key element driving the market's expansion is the use of these rotary encoders in the aerospace industry, where they are employed for automation. Therefore, it is anticipated that the market will rise at a faster rate due to the rising need for rotary encoders.