Pressure
Switch Market Highlights
Pressure Switches are mostly used in industrial
applications where there is operation for cold applications which necessitates
closing the switch at desired pressure level either in pressure rise or
pressure fall situation. It is also used in automation and transportation
sector which enhances the market growth. Monitoring, control and safety &
alarm system are the major applications in this market due to which it is
estimated to grow at a phenomenol rate during the forecast period. The
global pressure switch market is estimated to expand at 4.43% CAGR during the
forecast period.
Pressure switch is the form of switch which opens or
closes the circuit when a certain fluid pressure reaches on its input
terminals. The desigining of the pressure switches are varried according to,
make the contact either with rise in pressure or fall in pressure. Pressure
switches are widely used in industry to automatically monitor and control the
system that uses pressurized fluid. Pressure switches are of low cost which are
higher in reliability. Rising demand for electric vehicles, increasing
investments in the smart cities and development in infrastructure are the
factors attributed to the growth in pressure switch market.
Segmentation
Global pressure switch market has been segmented based
on type, pressure range, application, end- user, and region. Based on type, the
market is classified into electromechanical and solid-state. electromechanical
segment is dominating the market share, mainly due to the less cost involved in
setting up the system for both, commercial and residential use. Based on
application, the market is further segmented as off-grid and on- grid. On-grid
segment dominates the market in this sector as on-grid systems are very
cost-effective, reliable and efficient. The global pressure switch market is
further segmented based on end-user, including residential, industrial, and
commercial segments. Commercial segment is estimated to register the highest
growth rate during the forecast period.
Leading
Players:
The key players of the Global Pressure Switch Market
are ABB Ltd. (Switzerland), Eaton (Ireland), Danfoss (Denmark), Parker Hannifin
Corp (US), Bosch Rexroth AG (Europe), Baumer (Switzerland), Emerson Electric
Co. (US), Honeywell International Inc. (US), Schneider Electric (France), SMC
Corporation of America (US), SOR Inc. (US), Endress+Hauser Consult AG
(Switzerland) and Barksdale Inc (US).
Regional Analysis
Region wise, Asia-Pacific region held the largest
market share of the global pressure switch market in 2017. It is anticipated
that Asia-Pacific region will continue to dominate the market during the
forecast period, mainly due to the rising application of pressure switch in
industrial and commercial sector, as developing countries shows a significant
growth in automation. In Asia-Pacific region countries such as India is
increasing the contribution towards manufacturing sector, while South Korea is
investing heavily in automotive & transportation sector which enhances the
market demand for pressure switch market in the forecasted period. Owing to its
reliability in operation, North America is also increasing the market due to
stringent regulations by government in terms of safety measures.
Scope
of the Report
This research report
provides insights into various levels of analysis, such as industry analysis
and market share analysis for the leading industry competitors, along with
their profiles. It also helps in studying the target segments by providing
views on the emerging & high-growth segments. The market data comprises the
basic assessment of the competitive scenarios and strategies in the global
pressure switch market, including high-growth regions and/or countries, and
political and economic environments. The project report further provides both –
historical market values and pricing & cost analysis.
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