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 phenomenal rate during the forecast period. A detailed analysis report of COVID-19 impact on Pressure Switch Market Growth is provided with the
report.
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.
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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.
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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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