Pressure Switch Market Highlights
The global
pressure switch market is estimated to expand at 4.43% CAGR during the forecast
period. 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.
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 Forecast 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.
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