Pressure Switch Market Scope
Rising demand for pressure switches in the automotive sector coupled with increased adoption of HVAC to enhance ventilation services is propelling the market growth. The surge in varying applications of pressure switches in the aerospace industry is further driving the manufacturing and utilization of pressure switches. In addition, owing to its special properties such as pump system longevity, convenience, and time-saving as well as prolonged battery life, the pressure switches market is expected to witness lucrative growth.
|Unit||Value (USD Million)|
|Key Companies Profiled||Tecmark Corporation (United States), SOR Inc. (United States), Micro Pneumatic Logic, Inc (United States), Air Logic (United States), ABB Ltd. (Switzerland), Eaton (Ireland), Danfoss (Denmark), Parker Hannifin Corp (United States), Barksdale Inc (United States)) and Baumer (Switzerland)|
Major competitors engage in new product launches, acquisitions, and upgradation in the current offerings to stay abreast with market trends. With an increasing inclination towards sustainable options and advancements in the automotive sector across the world, many companies form strategic partnerships to gain competitive advantage and market share. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Pressure Switch market throughout the predicted period.
Tecmark Corporation (United States), SOR Inc. (United States), Micro Pneumatic Logic, Inc (United States), Air Logic (United States), ABB Ltd. (Switzerland), Eaton (Ireland), Danfoss (Denmark), Parker Hannifin Corp (United States), Barksdale Inc (United States)) and Baumer (Switzerland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Tameson (Netherlands).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Pressure Switch market by Type , by Application (HVAC, Monitoring and Control, Safety and Alarm System, Hydraulics and Pneumatics and Others) and Region with country level break-up.
On the basis of geography, the market of Pressure Switch has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesIn September 2019, Measurement Specialties Inc., a subsidiary of TE Connectivity acquired Silicon Microstructures Inc. (SMI) from Elmos Semiconductor AG. Through this acquisition, TE expanded its global presence in pressure sensors, particularly in medical, transportation, and industrial applications.
In January 2021, Liberty Oilfield Services Inc and Schlumberger announced the completion of the contribution of Schlumberger’s onshore hydraulic fracturing business in the United States and Canada inclusive of its pressure pumping, pump-down perforating, and Permian frac sand businesses.
Influencing Trend:Increasing Expansion of Processing and Manufacturing Industry
Market Growth Drivers:Growing Demand for Pressure Switches in Aerospace Application and Increasing Investment in Automotive Infrastructure
Challenges:Interruptions in the Distribution Channel of the Pressure switch
Restraints:The Need for Consistent and Reliable Maintenance
Opportunities:Increasing Adoption of Superior Sensor Technology
Key Target AudiencePressure Switch Manufacturers, Automotive Sector, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others