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.
As
per a detailed analysis by Market Research Future (MRFR), the global pressure
switch market is anticipated to garner a CAGR of 4.43% during the forecast
period (2018-2023).
Leading Players Analyzed in
the global Pressure Switch Market report are:
The
prominent players operating in the global pressure switch market comprises
Eaton (Ireland), ABB Ltd. (Switzerland), Parker Hannifin Corp (US), Danfoss
(Denmark), Baumer (Switzerland), Bosch Rexroth AG (Europe), Honeywell
International Inc. (US), Emerson Electric Co. (US), SMC Corporation of America
(US), Schneider Electric (France), Endress+Hauser Consult AG (Switzerland), SOR
Inc. (US), and Barksdale Inc (US).
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Industry Highlights
Pressure
switches can be defined as the switches which closes or opens the circuit when
certain amount of fluid pressure is achieved on the input terminal. The
switches are extensively used in industries to monitor the system automatically
which uses the pressurized fluid to control the circuit. Pressure switches are
cost-effective and are highly reliable and are dominated by wide pressure range
availability. These switches find applications across verticals such as
beverage, automobile, machine tool, pharmaceuticals, pulp & paper, and
others. The developing economies will provide an impetus to the market’s
growth.
Market Potential and Pitfalls
The
pressure switch market has experienced a tectonic surge in the past few years
due to the surging investments in the automotive sector and smart cities along
with the development in the infrastructural projects. As per the German
Association of Automotive Industry, the sales of automotive sector experienced
a boom of 5.3% from 201 to 2017. Thus, the growing demand for electric vehicles
along with the booming automobile production across the globe is contributing
to the growth of pressure switch market in the automotive and transportation
industry. The rising application of pressure switch in hydraulics &
pneumatic and HVAC is influencing the growth of the market across the globe. As
per the Industrial Development Report 2018, governments worldwide are
encouraging industrialization by highly investing in the industries. This is
likely to have a positive impact on the growth of the market.
On
the contrary, limited monitoring capabilities are considered to restrict the
growth of pressure switch market during the assessment period.
Global Pressure Switch
Market: Segmental Analysis
The
global pressure switch
market has been segmented on the
basis of pressure range, type, application, and end- user.
By Type
- Electromechanical
- Solid-State
By Pressure Range
- Below 100 bar
- 100 – 400 bar
- Above 400 bar
By Application
- Heating, ventilation
and air conditioning (HVAC)
- Monitoring &
Control
- Safety and Alarm
Systems
- Hydraulics &
Pneumatics
By End-User
- Automotive &
Transportation
- Process &
Manufacturing Industry
- Commercial
By Regions
- North America
- Asia-Pacific
- Europe
- Rest of the World
Regional Insights
Geographically,
the pressure switch market span across regions namely, Europe, North America,
Asia Pacific, and the Rest-of-the-World (RoW).
Considering
the global scenario, the Asia Pacific region occupied the largest market share
in 2017. The region is considered to retain its growth in the long run due to
the surging application of pressure switch in commercial and industrial sector.
With developing economies registering a significant growth in the automation
sector, the regional market is likely to gain prominence. Nations like India is
highly contributing towards the manufacturing sector, which further influences
the market growth in this region. Moreover, South Korea is extensively
investing in automotive & transportation sector which triggers the demand
for pressure switch market in this region.
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Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1
Market Definition
2.2
Scope Of The Study
2.3
Research Process
2.4
Market Size Estimation
2.5
Forecast Model
3 Market Landscape
3.1
Porter’s Five Forces Analysis
3.2
Supply Chain Analysis
4 Market Dynamics
4.1
Introduction
4.2
Market Drivers
4.3
Market Restraints
4.4
Market Opportunities
4.5
Market Trends
4.6
List Of Assumptions
5 Global Pressure Switch
Market, By Pressure Range
5.1
Introduction
5.2
Electro-Mechanical
6 Global Pressure Switch
Market, By Pressure Range
6.1
Introduction
6.2
Below 100 Bar
6.3
100 – 400 Bar
6.4
Above 400 Bar
7 Global Pressure Switch
Market, By End-User
7.1
Introduction
7.2
Heating, Ventilation And Air Conditioning (HVAC)
7.3
Monitoring & Control
7.4
Safety And Alarm Systems
7.5
Hydraulics & Pneumatics
8 Global Pressure Switch
Market, By End-User
8.1
Introduction
8.2
Automotive & Transportation
8.3
Process & Manufacturing Industry
8.4
Commercial
Continued…….
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