Inductive Encoder Market Growth CAGR 8.3% During 2022-2032 | Emergen Research

Vancouver, Dec. 26, 2023 (GLOBE NEWSWIRE) -- The global inductive encoder market size was USD billion in 2022 and is expected to register a revenue CAGR of 8.3% during the forecast period, according to the latest analysis by Emergen Research. Increasing adoption of inductive encoders in industrial automation equipment such as robotic arms, actuators, conveyors, and other moving components are driving market revenue growth.
Inductive encoder is designed to detect accurate, precise, and calibrated positions. Globally, an array of industries is adopting the industry '4.0' paradigm, which frames development of various digital technologies as the fourth industrial revolution. Modern industrial processes rely on highly automated machinery that must move with precision and speed. Inductive encoders play a crucial role in providing highly accurate, calibrated results.

Moreover, technological developments in rotary position sensor-enabled inductive scanning technology which is expected to drive revenue growth of the market over the forecast period. Companies that develop and manufacture inductive encoders have integrated a highly articulated counteract design-induced measurement gearbox output shaft in the encoder's scanning head, which provides calibrated position feedback from a robot joint's motor shaft.

However, extreme climatic conditions and vibration are some major factors restraining inductive encoder market revenue growth. Inductive encoders have optical encoder-based position sensors that are sensitive to mechanical vibration or shocks and can produce precise results while working at rotating speeds of up to 100,000 Rotation Per Minute (RPM).

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Scope of Research

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MAJOR COMPANIES and Market Share Analysis

The global inductive encoder market is consolidated, with few large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new solutions and services. Some major players included in the global inductive encoder market report are:

• Sick AG
• Baumer Holding AG
• Leine & Linde AB 
• Pepperl+Fuchs
• Dynapar Corporation
• FRABA B.V.
• Hengstler GmbH
• Posic SA
• Sentech B.V.
• Novanta Inc. 

Strategic Development

• On 4 April 2023, United States-based precision motion technology and engineering company Celera Motion (Novanta Inc.) introduced inductive encoder solution that achieves next-level accuracy angle measurement in motion control applications and position feedback in robotics. This new product is designed for applications that require exact angle measurements but are not suitable for optical encoders, such as dusty, muddy, high shocks, and vibrations.
• On 23 April 2020, the Netherlands-based major key competitor in inductive encoder market, FRABA B.V. introduced multi-turn absolute kit encoders for applications including collaborative robots, industrial automation, and linear actuators. The kit encoders are equipped with several features aimed at minimizing space requirements and costs. These features encompass absolute-position feedback, compact bores, and an energy-harvesting design that eliminates the necessity for battery backup.

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Some Key Highlights from the Report

• The incremental encoder segment is expected to account for largest revenue share over the forecast period. Incremental inductive encoders are widely used in industrial automated machinery manufacturing. Incremental inductive encoders provide virtually instantaneous position information with low latency. They are also well suited for use in harsh conditions such as dirt, dampness, oil, or variable temperatures, which can provide challenges for other sensing technologies.
• The manufacturing and industrial automation segment accounted for largest revenue share in 2022. Inductive encoders are in high demand owing to their ability to produce accurate and precise calibrated results by translating motion into electrical feedback signals that are interpreted by a control device to quantify changes in position, speed, count, direction, and linear distance.
• The market in Europe accounted for largest revenue share in 2023. The widespread use of inductive encoders in acceleration of Industry 4.0 and renewable energy projects is driving market revenue growth in Europe.

Segments Covered in Report

Emergen Research has segmented the global inductive encoder market on the basis of encoder type, industry vertical, and region:

• Encoder Type Outlook (Revenue, USD Billion; 2019-2032)

• • Incremental Encoder
  • Absolute Encoder

• Industry Vertical Outlook (Revenue, USD Billion; 2019-2032)

• • Manufacturing and Industrial Automation
  • Automotive and Transportation
  • Aerospace and Defense
  • Medical Devices
  • Energy and Power
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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