Global Encoders Market to Reach $4.5 Billion by 2030
The global market for Encoders estimated at US$2.5 Billion in the year 2023, is expected to reach US$4.5 Billion by 2030, growing at a CAGR of 8.4% over the period 2023-2030. Rotary Encoders, one of the segments analyzed in the report, is expected to record 9.1% CAGR and reach US$2.6 Billion by the end of the analysis period. Growth in the Linear Encoders segment is estimated at 7.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $663.8 Million, While China is Forecast to Grow at 12.3% CAGR
The Encoders market in the U.S. is estimated at US$663.8 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 12.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 7.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR.
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