Pressure Switches: Worldwide Market Opportunities to 2023 - Increasing Demand for Pressure Switches in the Transportation Sector
DUBLIN, July 13, 2018 /PRNewswire/ --
The "Pressure Switch Market by Type (Electromechanical, Solid State), Pressure Range (Below 100 bar, 100-400 bar, Above 400 bar), Application (HVAC, Monitoring & Control, Safety & Alarm Systems, Hydraulics & Pneumatics), End-User -Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global pressure switch market is projected to reach a market size of USD 2.09 billion by 2023, at a CAGR of 4.39%, from an estimated USD 1.69 billion in 2018. This growth can be attributed to the low cost of pressure switches coupled with their multi-functionality, increasing demand for electric vehicles, and increasing investments in the railways sector.
The report segments the pressure switch market, by type, into electromechanical and solid-state. The electromechanical segment is expected to hold the largest market share from 2018 to 2023. Increasing deployment of electromechanical pressure switches in commercial and industrial applications is likely to propel the demand in the electromechanical segment.
The pressure switch market, by pressure range, is segmented into below 100 bar, 100-400 bar, and above 400 bar. The below 100 bar segment is expected to dominate the pressure switch market from 2018 to 2023. Growth in the automotive & transportation sector is one of the key reasons behind the growth of the below 100 bar pressure switch market.
The pressure switch market is segmented into HVAC, monitoring & control, safety & alarm systems, and hydraulics & pneumatics based on application. The HVAC segment is one of the major applications of the pressure switch market. Also, this segment is expected to hold the largest market share, during the forecast period. Pressure switches help HVAC systems to operate at optimum levels and offer better maintenance, thereby driving the pressure switch market in the HVAC segment.
Based on end-user, the pressure switch market is segmented into automotive & transportation, process & manufacturing industry, and commercial. The automotive & transportation segment held the largest share in pressure switch market in 2017 and is expected to grow at the fastest CAGR from 2018 to 2023. The global automobile production has seen significant growth in last few years from 94 million units to 97 million units from 2016 to 2017. As per International Energy Agency (IEA), the annual production of electric vehicles is expected to grow from 1 million in 2015 to 5.6 million by 2020 globally. So, the rising demand of electric vehicles and increasing automobile production is driving the pressure switch market in automotive & transportation segment.
The pressure switch market has been analyzed with respect to 5 regions, namely, North America, Europe, South America, Asia Pacific, and Middle East & Africa. The market in Asia Pacific is estimated to be the largest pressure switch market, from 2018 to 2023. Countries such as India, plan to increase their contribution toward the manufacturing sector to reach 25% by 2025. Moreover, in 2017, the automotive industry in South Korea produced approximately 3.75 million passenger car units. All such factors are expected to drive the pressure switch market in the Asia Pacific region.
Pressure switches are not capable of sending the measured pressure valve to remote locations, thus limited monitoring capabilities can hinder the growth of the pressure switch market. The leading players in the pressure switch market include ABB (Switzerland), Eaton (Ireland), Danfoss (Denmark), Schlumberger (US), and Parker (US). Contracts & agreements is the most commonly adopted strategy by the top players. This was followed by new product launches and mergers & acquisitions.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regional Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Pressure Switch Market During the Forecast Period
4.2 Market, By Type
4.3 Market, By Pressure Range
4.4 Market, Application
4.5 Asia Pacific Market, By End-User vs By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Pressure Switches in the Transportation Sector
5.2.1.2 Rising Focus on Process Automation
5.2.1.3 Low Cost of Pressure Switches Coupled With Their Multi-Functionality
5.2.2 Restraints
5.2.2.1 Limited Monitoring Capabilities
5.2.3 Opportunities
5.2.3.1 Rising Demand for HVAC Systems
5.2.3.2 Replacement of Mechanical Pressure Switches With Electronic Pressure Switches
5.2.4 Challenges
5.2.4.1 Presence of A Large Number of Players
6 Pressure Switch Market, By Type
6.1 Introduction
6.2 Electromechanical
6.3 Solid-State
7 Pressure Switch Market, By Pressure Range
7.1 Introduction
7.2 Below 100 Bar
7.3 100-400 Bar
7.4 Above 400 Bar
8 Pressure Switch Market, By Application
8.1 Introduction
8.2 HVAC
8.3 Monitoring & Control
8.4 Safety & Alarm Systems
8.5 Hydraulics & Pneumatics
9 Pressure Switch Market, By End-User
9.1 Introduction
9.2 Automotive & Transportation
9.3 Process & Manufacturing Industry
9.4 Commercial
10 Pressure Switch Market, By Region
10.1 Introduction
10.2 Asia Pacific
10.2.1 By Type
10.2.2 By Pressure Range
10.2.3 By Application
10.2.4 By End-User
10.2.5 By Country
10.2.5.1 China
10.2.5.2 Japan
10.2.5.3 India
10.2.5.4 South Korea
10.2.5.5 Rest of Asia Pacific
10.3 North America
10.3.1 By Type
10.3.2 By Pressure Range
10.3.3 By Application
10.3.4 By End-User
10.3.5 By Country
10.3.5.1 US
10.3.5.2 Canada
10.3.5.3 Mexico
10.4 Europe
10.4.1 By Type
10.4.2 By Pressure Range
10.4.3 By Application
10.4.4 By End-User
10.4.5 By Country
10.4.5.1 Germany
10.4.5.2 UK
10.4.5.3 France
10.4.5.4 Spain
10.4.5.5 Italy
10.4.5.6 Rest of Europe
10.5 Middle East Africa
10.5.1 By Type
10.5.2 By Pressure Range
10.5.3 By Application
10.5.4 By End-User
10.5.5 By Country
10.5.5.1 Saudi Arabia
10.5.5.2 UAE
10.5.5.3 South Africa
10.5.5.4 Rest of the Middle East & Africa
10.6 South America
10.6.1 By Type
10.6.2 By Pressure Range
10.6.3 By Application
10.6.4 By End-User
10.6.5 By Country
10.6.5.1 Brazil
10.6.5.2 Argentina
10.6.5.3 Rest of South America
11 Competitive Landscape
11.1 Overview
11.2 Ranking of Players & Industry Concentration, 2016
11.3 Competitive Scenario
11.3.1 Contracts & Agreements
11.3.2 New Product Launches
11.3.3 Acquisitions
12 Company Profile
12.1 Competitive Benchmarking
12.2 ABB
12.3 Eaton
12.4 Danfoss
12.5 Schlumberger
12.6 Parker
12.7 Barksdale
12.8 Baumer Group
12.9 BD - Sensors
12.10 Bosch
12.11 Emerson
12.12 FOX Srl
12.13 Honeywell
12.14 Schneider
12.15 SMC Corporation
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