Value Market Research, the market research company has recently published a report that states that the Global Pressure Switch Market had a value close to USD 1.9 BN in 2019 and is expected to touch USD 2.6 BN by 2026. The CAGR for the forecasted period from 2020 to 2026 is expected to be 4.5%. The rise in the adoption of automated processes across industrial and manufacturing industries is responsible for driving the growth of the market. The increasing demand for water pumps, electrical gas compressors and pressure panels from the oil& gas, chemical, power generation and other industries is further fuelling the market demand. Moreover, due to the low cost and the ability of the pressure switch to multi-function the global pressure switch market is expected to experience growth.
Pressure switch refers to a device that is used to monitor and control fluid pressure by providing vibration resistance. A pressure switch is either mechanical or electrically powered. The mechanical pressure switch uses fluid whereas the electric pressure switch uses electronic signals to monitor pressure. It functions by applying the process pressure to the diaphragm present and gives rise to force more or less as compared to pre-compressed spring.
The report “Global Pressure Switch Market Report By Type (Electromechanical And Solid State), By Pressure Range (Below 100 Bar, 100-400 Bar And Above 400 Bar), By Application (HVAC, Monitoring & Control, Safety & Alarm System And Hydraulics & Pneumatics), By End-User (Automotive & Transportation, Process & Manufacturing Industry And Commercial) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026” covers the market and the market flow along with a complete outlook on the competitive landscape.
By type, electromechanical and solid-state are the segments of the global pressure switch market where electromechanical has been found to be the leading segment as per the report owing to the increase in the deployment of electromechanical pressure switches in commercial and industrial applications. By pressure range, below 100 bar, 100-400 bar and above 400 bar are the segments of the global pressure switch market and below 100 bar has emerged as the leading segment as per the report owing to the growth in the automotive & transportation sector.
By application, HVAC, monitoring & control, safety & alarm system and hydraulics & pneumatics are the segments of the global pressure switch market. HVAC has been found out to be the segment dominating this segmentation as the use of pressure switches helps HVAC systems to function at optimum levels and be better maintained.
By end-user, the global pressure switch market is classified into automotive & transportation, process & manufacturing industry and commercial and automotive & transportation has led this segment. Pressure switches are responsible for playing an important role in the automotive & transportation segment by providing monitoring and control system to various applications such as railway, marine, and roadways. The increase in the use of pressure switches for major applications in the automotive sector and increasing investments in the transportation sector is expected to drive the demand for pressure switches in the automotive & transportation sector.
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa are the regional segments of the global pressure switch market and Asia Pacific has led this segment owing to its ever-growing manufacturing sector and passenger-car production market. Besides, the report also further focuses on demand for individual application segments in all the regions.
The Report Segments Global Pressure Switch Market –
By Pressure Range
Players Profiled In the Report:
ABB, Barksdale, Baumer Group, BD|Sensors, Bosch, Danfoss, Eaton, Emerson, FOX Srl, Honeywell, Parker, Schlumberger, Schneider and SMC Corporation
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