According to Stratistics MRC, the Global Pressure Switch Market is accounted for $1.61 billion in 2017 and is expected to reach $2.78 billion by 2026 growing at a CAGR of 6.3% during the forecast period.
— Some of the key factors influencing the market growth include increasing Focus on process automation and growing demand for pressure switches in the transportation sector. However, limited monitoring capabilities are restraining the market growth.
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Pressure switches are the switch which open or closes the circuit when a positive fluid pressure is achieved on its effort terminal. This switch is pressure actuated switch, which are varied according to, make the get in touch with either with rise in pressure or fall in pressure. These switches are widely used in industries to mechanically monitor the system that uses rushed fluid for controlling the circuit.
By Application, the HVAC segment is anticipated to grow at the significant share during the forecast period. The use of pressure switches helps HVAC systems to function at optimum levels and better maintenance. The top companies are concerned in provision of pressure switches for HVAC applications.
By Geography, Asia Pacific region is anticipated to be the fastest-growing and largest market share during the forecast period. Countries such as due China and Japan are the largest markets for pressure switches in the region. The government of China plans to enhance the investments toward process and manufacturing industries, thus creating a demand for the pressure switch market in the country.
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Some of the key players in this market include SMC Corporation, Schneider, Honeywell, FOX Srl, Emerson, Bosch, BD|Sensors, Baumer Group, Barksdale, Parker, Schlumberger, Danfoss, Eaton and ABB.
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Pressure Ranges Covered:
• Above 400 Bar
• 100–400 Bar
• Below 100 Bar
• Hydraulics & Pneumatics
• Safety & Alarm Systems
• Monitoring & Control
• Process & Manufacturing Industry
• Automotive & Transportation
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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