Automotive Speed Encoder Market to Reach $701.3 Million by 2033, Driven by Demand for Precision and Safety

Allied Market Research published a report, titled, "Automotive Speed Encoder Market" by Type (Axial Encoder, and Radial Encoder) and Application (Passenger Cars and Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2024-2033".. According to the report, the automotive speed encoder market was valued at $510.8 million in 2023, and is estimated to reach $701.3 million by 2033, growing at a CAGR of 3.5% from 2024 to 2033.

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Prime Determinants of Growth

The automotive speed encoder market is driven by increasing adoption of advanced driver assistance systems (ADAS) and autonomous driving technologies in vehicles. These systems rely heavily on accurate speed sensing provided by speed encoders to enable functions such as adaptive cruise control, collision avoidance, lane departure warning, and automatic emergency braking. As the automotive industry moves towards greater automation and integration of safety features, the demand for high-quality speed encoder systems continues to grow, thereby driving the expansion of the market.

Furthermore, advanced driver assistance systems technologies are becoming increasingly prevalent in modern vehicles to enhance safety and driving comfort. These systems rely on various sensors, including speed encoders, to gather real-time data about the vehicle's surroundings and dynamics. Speed encoders provide crucial information about the vehicle's speed, acceleration, and position, enabling ADAS features such as adaptive cruise control, which adjusts vehicle speed to maintain a safe distance from other vehicles, and collision avoidance systems, which detect and react to potential collisions.

Recent Development:

➜ June 2023: British Encoder announced the launch of its newest catalog that showcases a collection of encoders tailored for various industries, starting from manufacturing and robotics to aerospace and medical devices. These encoders are purpose-built to excel in specific applications and ensure that each encoder seamlessly integrates into the unique environments and challenges of different industries.
➜ November 2022: Maxon announced the launch of five new products at the upcoming SPS trade fair in Nuremberg. They include the ECX SPEED 8 motors with pin connection, the integrated ENX 32 MILE encoder for drives from the ECX flat motor series with 32 mm diameter, and the powerful IDX 56 and 70 industrial drives.
➜ In March 2023, POSITAL announced the launch of a major upgrade to its IXARC family of incremental rotary encoders that features new magnetic sensor technology and more energy-efficient embedded microcontrollers. The new encoders are expected to benefit customers by reducing power consumption while remaining mechanically and electrically compatible with earlier models.
➜ In March 2023, Celera Motion announced the introduction of the Field Calibration IncOder, which is a groundbreaking new absolute inductive encoder solution that enables next-level accuracy angle measurement in motion control applications and position feedback in robotics in the most demanding environments. The product is designed for applications that need precise angle measurements but in conditions not suited for optical encoders: dusty, dirty, and wet environments or in conditions where high shocks and vibrations are common.

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Segment Highlights

By Type

The axial encoder segment is expected to grow faster throughout the forecast period.

The axial encoder segment is anticipated to experience faster growth in the automotive speed encoder market due to its high precision and accuracy in measuring rotational speed and position. This level of accuracy is essential for the proper functioning of various automotive systems, including advanced driver assistance systems (ADAS) and electronic stability control (ESC) , which rely on precise speed data to operate effectively. Axial encoders are designed to be robust and durable, capable of withstanding the harsh conditions typical in automotive environments, such as extreme temperatures, vibrations, and exposure to dust and moisture. Their reliability ensures consistent performance over the vehicle's lifespan, making them a preferred choice for automotive applications.

Axial encoders are highly compatible with modern vehicle systems, including both internal combustion engine (ICE) vehicles and electric vehicles (EVs) . Their ability to provide accurate speed and position data makes them suitable for integration into various vehicle control systems, enhancing overall vehicle performance and safety.

By Application

The passenger cars segment is expected to lead throughout the forecast period.

The passenger cars segment is anticipated to experience faster growth in the automotive speed encoder market due to large passenger cars representing the largest segment of the automotive market in terms of production and sales. The sheer volume of passenger cars produced and sold annually leads to a correspondingly high demand for automotive components, including speed encoders. The integration of ADAS in passenger cars is becoming increasingly common. Features such as adaptive cruise control, lane departure warning, automatic emergency braking, and parking assistance rely on accurate speed and position data provided by speed encoders. The growing consumer preference for these safety and convenience features drives the demand for speed encoders in the passenger car segment.

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Passenger cars are at the forefront of adopting new automotive technologies, including advanced speed encoder systems. Continuous innovations in speed encoder technology, such as improved accuracy, reliability, and miniaturization, make them more suitable for modern passenger cars, thus enhancing their market share.

By Region

North America is expected to maintain its dominance in the automotive speed encoder market by 2032 owing to its advanced automotive industry, widespread adoption of advanced driver assistance systems (ADAS) and autonomous driving technologies, stringent safety regulations, and strong demand for high-performance vehicles.

Key Players

NTN-SNR
ams-OSRAM AG.
Dynapar
EBI
Freudenberg-NOK
Haining Zhongteng
Hutchinson
Renishaw
TE Connectivity Ltd
Timken

The report provides a detailed analysis of these key players in the global automotive speed encoder market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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