Category : Semiconductor and Electronics | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC2213
The market for temperature and pressure switches is expected to grow at a significant rate throughout the forecast period from 2020 to 2027.
A temperature switch is a device that functions in response to change in temperature. Temperature switch typically works like a normal electrical switch to on/off application. In this case, it is used to on or off at discrete process temperatures. Additionally, a pressure switch is also a form of switch that operates to provide systems with electrical feedback in response to measuring a rise or fall in pressure. These Pressure switches are used across a large range of industry and manufacturing applications. As per the working, pressure switch opens or closes a switch contact when a preset pressure is reached.
Market Dynamics
The rapid industrialization, increasing adoption of automation across industries, and growing trends of industry 4.0 are primarily supporting the market growth. The wide range of applications associated with these switches in HVAC, monitoring, and control, vehicles, safety and alarm systems, boilers, burners, air heaters, and others are bolstering the market value. The temperature and pressure switches are also gaining pace owing to the ongoing research and development activities to explore new sensing mechanisms and discover new functional materials, considerable attention is being given to the development of the integration technology of flexible devices, especially in the field of sensor development. The increasing use of temperature switches to manufacturing heating systems, boilers, burners, air heaters, and circulation pumps are further accelerating the market value. Moreover, instead of the extensive use of temperature switches in a broad spectrum of general-purpose applications, the growing demand from the automotive, pharmaceuticals, and food & beverages industry are projected to create potential demand over the estimated timeframe from 2020 to 2027.
On the other side, the inconsistency associated with the raw material prices are expected to hinder the growth to an extent during the estimated period.
Segment Instance
The temperature and pressure switches market is segmented on the basis of product type, distribution channel, end-user, and geography. By product type, market segments include temperature switches and pressure switches. On the basis of the distribution channel, the market is bifurcated into online and offline distribution channels. On the basis of end-user, temperature and pressure switches market is divided across residential, commercial, food and beverages, marine, automotive, aerospace and defense, chemicals, oil and gas, and others. By geography, the market is divided across North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Additionally, the aforementioned regions are further segregated into the major countries of the respective regions.
Asia Pacific dominated the Temperature and Pressure Switches market with maximum revenue share
Asia Pacific is leading the temperature and pressure switches market along with its rapidly developing economies including China and India. The rapid industrialization as well as technological advancement in the industrial sector in terms of operations is supporting the demand for these switched in the regional market. The focus towards the reduction of human error and automation of industrial infrastructure in order to increase productivity, decrease manufacturing cost & time along with the increased efficiency is contributing to the regional market value. The increasing investment by the major players in the region is further bolstering the regional market value.
Key Market Players
The players profiled in the report include ABB (Switzerland), Baumer Group (Switzerland), Beck GmbH Druckkontrolltechnik, Danfoss, Eaton Corporation Plc (Ireland), Honeywell International Inc. (US), Parker-Hannifin Corporation (US), Schneider Electric SE (France), SMC Corporation, WIKA Group, and others. The major market players were involved in mergers and acquisitions, partnerships & collaborations, and new product development for the expansion of market share.
Market Segmentation
Market By Product Type
Temperature Switches
Pressure Switches
Market By Distribution Channel
Online
Offline
Market By End-user
Residential
Commercial
Food and Beverages
Marine
Automotive
Aerospace and Defense
Chemicals
Oil and Gas
Others
Market By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
