The global float switch market to grow at a CAGR of 3.48% during the period 2017-2021
Global Float Switch Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers new installations, retrofit, replacement, aftermarket, and services market.
One trend in the market is increasing use of automated wireless pump control products. Vendors have introduced automated wireless pump control products to improve the efficiency of pump control. These products can be connected to float and mechanical switches. These devices help in remotely controlling the functions of the pumps, such as the flow of liquids and speed of the motor.
According to the report, one driver in the market is increasing need for process automation. Many end-user industries are upgrading their existing manufacturing facilities to improve the efficiency of the plants and reduce the operating costs. With the help of automation and robotic solutions, manufacturing facilities can improve the quality of their production, thereby improving the efficiency. With the help of IIoT, these manufacturing facilities can collect data, which can be used for analytics and strategic decision making. With the help of automation, the precision and quality of work can be maintained, which helps in improving the output of the products.
Further, the report states that one challenge in the market is premature failure of float switches. Certain models of float switches are not suitable for certain applications, which causes float switch failure. Failure may occur due to the temperature of the liquid, which could affect the functioning of the switches, corrosion of float switches of due to exposure of these switches to various viscous liquids, and improper installations. These factors can damage the float switches and raise the need for their replacement on a frequent basis. The lack of awareness during the selection of float switches is the major reason for the premature failure.