Market Overview:
The Global Intrinsically Safe Encoder Market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth is attributed to the increasing demand for intrinsically safe encoders in various applications such as elevators, construction machinery, petrochemical and automated industry. Additionally, the growing awareness about safety regulations across different industries is also propelling the growth of this market. Based on type, incremental hubshaft encoder accounted for a major share of the global intrinsically safe encoder market in 2017. This can be attributed to its high accuracy and reliability compared to other types of intrinsic safety encoders available in the market.
Product Definition:
An intrinsically safe encoder is a device that limits the amount of energy that can be released in an electrical or electronic system, in order to prevent sparks from igniting flammable materials. Intrinsically safe encoders are important for safety-critical applications, such as those in the oil and gas industry, where it is important to avoid potentially dangerous explosions.
Incremental Hubshaft Encoder:
Incremental hubshaft encoder is a device used to measure the angle of rotation of the hub and main shafts. It provides an accurate measurement even at high speeds by using a single-axis sensor mounted on the main shaft. The technology has been around for more than two decades, but its applications were limited to heavy industrial machinery until recently.
Incremental Hollow-shaft Encoder:
Incremental hollow-shaft encoder is a device used to measure the position of the drill string in a drilling operation. It consists of an outer race, which is mounted on the drill string and an inner race, which can be directly mounted to the bit or it can be attached to a timing belt.
Application Insights:
The global intrinsically safe encoder market is segmented on the basis of application into electric elevator, construction machinery, petrochemical, automated industry and others. The electric elevator application segment accounted for a major share in 2017 and is projected to maintain its dominance throughout the forecast period. This can be attributed to increasing use of digital technology in elevators as well as growing demand for energy-efficient products across the globe.
Petrochemical was one of the fastest-growing segments over recent years owing to rising demand from oil & gas refineries across China, India and Japan along with ongoing projects in Saudi Arabia and South America. Growing need for precise measurement devices at petrochemical plants coupled with high production volumes is expected to drive product demand over next seven years or so from 2018 until 2030.
Regional Analysis:
Asia Pacific dominated the global industry in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing demand for automation in emerging economies such as China, India, Japan, and South Korea. Rising industrialization coupled with growing infrastructure activities is projected to fuel market growth over the coming years.
The Middle East & Africa region is anticipated to witness significant growth during the forecast period owing to rising oil & gas investments by major companies such as Total SA and ExxonMobil Corporation in order to sustain production levels at existing facilities. In addition, rising government spending on construction machinery due to rapid urbanization across countries including Saudi Arabia and United Arab Emirates (UAE) are expected drive product demand over the next eight years.
Growth Factors:
- Increasing demand for safety-critical applications in various industries
- Growing awareness about the benefits of intrinsically safe encoders
- Proliferation of automation and digitization in manufacturing sector
- Rising investments in research and development for advanced encoder technologies
- Growing demand from emerging markets
Scope Of The Report
Report Attributes
Report Details
Report Title
Intrinsically Safe Encoder Market Research Report
By Type
Incremental Hubshaft Encoder, Incremental Hollow-shaft Encoder
By Application
Elevator, Construction Machinery, Petrochemical, Automated Industry
By Companies
Micronor LLC, Sensor Systems,LLC, R. Stahl,Inc., Dynapar, Baumer Ltd., PICS INC, Industrial Encoder Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
181
Number of Tables & Figures
127
Customization Available
Yes, the report can be customized as per your need.
Global Intrinsically Safe Encoder Market Report Segments:
The global Intrinsically Safe Encoder market is segmented on the basis of:
Types
Incremental Hubshaft Encoder, Incremental Hollow-shaft Encoder
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Elevator, Construction Machinery, Petrochemical, Automated Industry
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Micronor LLC
- Sensor Systems,LLC
- R. Stahl,Inc.
- Dynapar
- Baumer Ltd.
- PICS INC
- Industrial Encoder Corporation
Highlights of The Intrinsically Safe Encoder Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Incremental Hubshaft Encoder
- Incremental Hollow-shaft Encoder
- By Application:
- Elevator
- Construction Machinery
- Petrochemical
- Automated Industry
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Intrinsically Safe Encoder Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Intrinsically safe encoders are those that do not produce any harmful radiation when in use.
Some of the major companies in the intrinsically safe encoder market are Micronor LLC, Sensor Systems,LLC, R. Stahl,Inc., Dynapar, Baumer Ltd., PICS INC, Industrial Encoder Corporation.
The intrinsically safe encoder market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Intrinsically Safe Encoder Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Intrinsically Safe Encoder Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Intrinsically Safe Encoder Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Intrinsically Safe Encoder Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Intrinsically Safe Encoder Market Size & Forecast, 2018-2028
4.5.1 Intrinsically Safe Encoder Market Size and Y-o-Y Growth
4.5.2 Intrinsically Safe Encoder Market Absolute $ Opportunity
Chapter 5 Global Intrinsically Safe Encoder Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Intrinsically Safe Encoder Market Size Forecast by Type
5.2.1 Incremental Hubshaft Encoder
5.2.2 Incremental Hollow-shaft Encoder
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Intrinsically Safe Encoder Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Intrinsically Safe Encoder Market Size Forecast by Applications
6.2.1 Elevator
6.2.2 Construction Machinery
6.2.3 Petrochemical
6.2.4 Automated Industry
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Intrinsically Safe Encoder Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Intrinsically Safe Encoder Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Intrinsically Safe Encoder Analysis and Forecast
9.1 Introduction
9.2 North America Intrinsically Safe Encoder Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Intrinsically Safe Encoder Market Size Forecast by Type
9.6.1 Incremental Hubshaft Encoder
9.6.2 Incremental Hollow-shaft Encoder
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Intrinsically Safe Encoder Market Size Forecast by Applications
9.10.1 Elevator
9.10.2 Construction Machinery
9.10.3 Petrochemical
9.10.4 Automated Industry
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Intrinsically Safe Encoder Analysis and Forecast
10.1 Introduction
10.2 Europe Intrinsically Safe Encoder Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Intrinsically Safe Encoder Market Size Forecast by Type
10.6.1 Incremental Hubshaft Encoder
10.6.2 Incremental Hollow-shaft Encoder
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Intrinsically Safe Encoder Market Size Forecast by Applications
10.10.1 Elevator
10.10.2 Construction Machinery
10.10.3 Petrochemical
10.10.4 Automated Industry
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Intrinsically Safe Encoder Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Intrinsically Safe Encoder Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Intrinsically Safe Encoder Market Size Forecast by Type
11.6.1 Incremental Hubshaft Encoder
11.6.2 Incremental Hollow-shaft Encoder
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Intrinsically Safe Encoder Market Size Forecast by Applications
11.10.1 Elevator
11.10.2 Construction Machinery
11.10.3 Petrochemical
11.10.4 Automated Industry
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Intrinsically Safe Encoder Analysis and Forecast
12.1 Introduction
12.2 Latin America Intrinsically Safe Encoder Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Intrinsically Safe Encoder Market Size Forecast by Type
12.6.1 Incremental Hubshaft Encoder
12.6.2 Incremental Hollow-shaft Encoder
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Intrinsically Safe Encoder Market Size Forecast by Applications
12.10.1 Elevator
12.10.2 Construction Machinery
12.10.3 Petrochemical
12.10.4 Automated Industry
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Intrinsically Safe Encoder Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Intrinsically Safe Encoder Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Intrinsically Safe Encoder Market Size Forecast by Type
13.6.1 Incremental Hubshaft Encoder
13.6.2 Incremental Hollow-shaft Encoder
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Intrinsically Safe Encoder Market Size Forecast by Applications
13.10.1 Elevator
13.10.2 Construction Machinery
13.10.3 Petrochemical
13.10.4 Automated Industry
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Intrinsically Safe Encoder Market: Competitive Dashboard
14.2 Global Intrinsically Safe Encoder Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Micronor LLC
14.3.2 Sensor Systems,LLC
14.3.3 R. Stahl,Inc.
14.3.4 Dynapar
14.3.5 Baumer Ltd.
14.3.6 PICS INC
14.3.7 Industrial Encoder Corporation
