Pressure switches are the switches which opens or closes the circuit when a certain fluid pressure is achieved on its input terminal. This switch is pressure actuated switch, which are varied according to, make the contact either with rise in pressure or fall in pressure. These switches are widely used in industries to automatically monitor the system that uses pressurized fluid for controlling the circuit. Pressure switches are of low cost which are higher in reliability and cost-effective. These switches are dominated by wide pressure range availability. These switches are used in verticals of industries such as Automobile, beverage, pharma, machine tool, pulp & paper etc. However, it is estimated that there will be a substantial growth of the pressure switch market globally mostly because of the developing economies.
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The key players of the Global Pressure Switch Market are ABB Ltd. (Switzerland), Eaton (Ireland), Danfoss (Denmark), Parker Hannifin Corp (US), Bosch Rexroth AG (Europe), Baumer (Switzerland), Emerson Electric Co. (US), Honeywell International Inc. (US), Schneider Electric (France), SMC Corporation of America (US), SOR Inc. (US), Endress+Hauser Consult AG (Switzerland) and Barksdale Inc (US).
Based on type, the market is segmented as electromechanical and solid-state. Electromechanical segment is anticipated to dominate the market during the forecast period due to increasing adoption of electromechanical pressure switches in industrial and commercial sector. Considering the pressure range, the market is segmented as below 100 bar, 100 – 400 bar and Above 400 bar. Below 100 bar segments is estimated to enhance the market growth during the forecast period, due to rising application of pressure switch in automotive, industrial and transportation sector.
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Region wise, Asia-Pacific region held the largest market share of the global pressure switch market in 2017. It is anticipated that Asia-Pacific region will continue to dominate the market during the forecast period, mainly due to the rising application of pressure switch in industrial and commercial sector, as developing countries shows a significant growth in automation. In Asia-Pacific region countries such as India is increasing the contribution towards manufacturing sector, while South Korea is investing heavily in automotive & transportation sector which enhances the market demand for pressure switch market in the forecasted period. Owing to its reliability in operation, North America is also increasing the market due to stringent regulations by government in terms of safety measures.
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