Worldwide Pressure Switches Industry to 2027 - Growing Manufacturing Sector Presents Opportunities

Research and Markets
·10-min read

Dublin, Oct. 26, 2020 (GLOBE NEWSWIRE) -- The "Pressure Switches Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type; Pressure Range; Application; End-user, and Geography" report has been added to ResearchAndMarkets.com's offering.

According to this report the market was valued at US$ 1316.8million in 2019 and is projected to reach US$ 1629.1million by 2027; it is expected to grow at a CAGR of 3.8% from 2019 to 2027.

The report highlights key factors driving the market growth, and prominent players and their developments in the market.

Pressure switches are used in a vast number of industries. They are extensively used in the industrial equipment or control, such as plastic molding injection, press machines, and welding machines. Pneumatic and hydraulic pressure switches control the air bellows in trucks and brake pressure in trains. Pressure switches are also used in numerous automotive applications, such as power steering, monitoring engine oil, and transmissions. Medical equipment, such as oxygen delivery systems, utilizes pressure switches to control incoming gas pressure. Digitization has resulted in increased efficiency of existing machines coupled with increased safety, and are expected to increase demand for pressure switches.

Moreover, increasing urban population and growing demand for better infrastructure have led to the growth of the construction industry, which is expected to drive the growth of the pressure switches markets. Due to reliable offerings and high quality, manufacturers from the Asia Pacific and European regions have dominated the global pressure switches market in recent years. However, the emergence of new market players from the Asia Pacific region (particularly China) was a new challenge for established leaders. Asia Pacific pressure switches manufacturers offer price-competitive copies with comparable quality and reliability.

Aggressive pricing by new players has led to the eroding of profit margins in the domain of pressure switches. Digitization offers pressure switches players an attractive opportunity. Manufacturers have implemented analytics and automation to improve their products and services as well as to enrich customers' experience. The concept of digital machinery has transformed manufacturers from suppliers with 'hardware only' into suppliers with 'hardware, software, and services,' which in turn has led to the development of new business models. Pressure switches manufacturers utilize these new models to build a loyal customer base and generate a steady stream of revenues.

Digitization paved the way for pressure switches manufacturers to introduce new business models based on equipment utilization or performance level. Digitization has created new opportunities across different processes in the value chain of pressure switches, from designing the product to manufacturing, selling, and after-sales services. Pressure switches manufacturers use data collected from equipment through digitization to innovate and introduce new products to the market, based on the varied consumer demands.

ABB Ltd, Parker Hannifin Corporation, Danfoss A/S, Barksdale Inc., Cleveland Controls, Lefoo, Baumer Holding AG, Schneider Electric, SMC Corporation, Eaton Corporation plc, Emerson Electric Co, Honeywell International Inc., and Huba Control AG are among the well-established players present in the global pressure switches market.

COVID-19 Impact on Pressure Switches Market

The recent outbreak of the COVID-19 has significantly affected the world and is continuing to shatter several countries. The North America region especially the US witnessed an unprecedented rise in number of confirmed cases resulting in large-scale lockdown across different regions as well as industrial activities. As a result, several small & medium enterprise owners have limited their industry personnel; whereas, many other have laid off non-essential employees shortly owing to restricted business operation.

In addition to this, the company also minimized the allocated budget for manufacturing of pressure switches owing to economic slowdown, which affected the global pressure switches market. Moreover, the component manufacturer, supply chain and distributor lack of availability of business also has significantly influencing the production of pressure switches by the market players. Thus, the market is expected to witness a major drop in the demand from the end-users for the current year and the subsequent years to recover from the impact of COVID-19 pandemic.

Reasons to Buy

  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the pressure switches market, thereby allowing players to develop effective long term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to type, pressure range, application and end-user.

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Pressure Switches Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. Pressure Switches Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Digitization is Driving Demand for Pressure switches
5.1.2 Increasing Investment in the Construction Industry
5.2 Market Restraints
5.2.1 Concerns Regarding Accuracy
5.3 Market Opportunities
5.3.1 Growing Manufacturing Sector
5.4 Future Trends
5.4.1 Linking with Advanced Mobile-Hydraulic Controllers
5.5 Impact Analysis of Drivers and Restraints

6. Pressure Switches Market - Global Analysis
6.1 Pressure Switches Market Global Overview
6.2 Pressure Switches Market - Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Global Market Players Ranking

7. Pressure switches Market Analysis- By Type
7.1 Overview
7.2 Global Pressure switches Market Breakdown, by Type, 2019 & 2027
7.3 Electromechanical
7.3.1 Overview
7.3.2 Electromechanical Market Revenue and Forecast to 2027 (US$ Million)
7.4 Solid-State-
7.4.1 Overview
7.4.2 Solid-state-State Market Revenue and Forecast to 2027 (US$ Million)

8. Pressure switches Market Analysis- By Pressure range
8.1 Overview
8.2 Global Pressure switches Market Breakdown, by Pressure range, 2019 & 2027
8.3 Below 100 Bar
8.3.1 Overview
8.3.2 Below 100 Bar Market Revenue and Forecast to 2027 (US$ Million)
8.4 100-300 Bar
8.4.1 Overview
8.4.2 100-300 Bar Market Revenue and Forecast to 2027 (US$ Million)
8.5 Above 300 Bar
8.5.1 Overview
8.5.2 Above 300 Bar Market Revenue and Forecast to 2027 (US$ Million)

9. Pressure switches Market Analysis- By Application
9.1 Overview
9.2 Global Pressure switches Market Breakdown, by Application, 2019 & 2027
9.3 HVAC
9.3.1 Overview
9.3.2 HVAC Market Revenue and Forecast to 2027 (US$ Million)
9.4 Monitoring and Control
9.4.1 Overview
9.4.2 Monitoring and Control Market Revenue and Forecast to 2027 (US$ Million)
9.5 Safety and Alarm Systems
9.5.1 Overview
9.5.2 Safety and Alarm Systems Market Revenue and Forecast to 2027 (US$ Million)
9.6 Hydraulic and Pneumatic
9.6.1 Overview
9.6.2 Hydraulic and Pneumatic Market Revenue and Forecast to 2027 (US$ Million)

10. Pressure switches Market Analysis- By End-User
10.1 Overview
10.2 Global Pressure switches Market Breakdown, by End-User, 2019 & 2027
10.3 Automotive and Transportation
10.3.1 Overview
10.3.2 Automotive and Transportation Market Revenue and Forecast to 2027 (US$ Million)
10.4 Process and Manufacturing
10.4.1 Overview
10.4.2 Process and Manufacturing Market Revenue and Forecast to 2027 (US$ Million)
10.5 Commercial
10.5.1 Overview
10.5.2 Commercial Market Revenue and Forecast to 2027 (US$ Million)

11. Pressure Switches Market - Geographic Analysis
11.1 Overview
11.2 North America: Pressure Switches Market
11.3 Europe: Pressure Switches Market
11.4 APAC: Pressure Switches Market
11.5 MEA: Pressure Switches Market
11.6 SAM: Pressure Switches Market

12. Impact of Coronavirus Outbreak
12.1 Impact of COVID-19 Pandemic On Global Pressure Switches Market
12.1.1 North America: Impact Assessment of COVID-19 Pandemic
12.1.2 Europe: Impact Assessment of COVID-19 Pandemic
12.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
12.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
12.1.5 South America: Impact Assessment of COVID-19 Pandemic

13. Industry Landscape
13.1 Market Initiative
13.2 New Development

14. Company Profiles
14.1 ABB Ltd.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Parker Hannifin Corporation
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Danfoss A/S
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Barksdale Inc.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Cleveland Controls
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Lefoo
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Baumer Holding AG
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Schneider Electric
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 SMC Corporation
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Eaton Corporation plc
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
14.11 Emerson Electric Co.
14.11.1 Key Facts
14.11.2 Business Description
14.11.3 Products and Services
14.11.4 Financial Overview
14.11.5 SWOT Analysis
14.11.6 Key Developments
14.12 Honeywell International Inc.
14.12.1 Key Facts
14.12.2 Business Description
14.12.3 Products and Services
14.12.4 Financial Overview
14.12.5 SWOT Analysis
14.12.6 Key Developments
14.13 Huba Control AG
14.13.1 Key Facts
14.13.2 Business Description
14.13.3 Products and Services
14.13.4 Financial Overview
14.13.5 SWOT Analysis
14.13.6 Key Developments

15. Appendix
15.1 About the Publisher
15.2 Word Index

For more information about this report visit https://www.researchandmarkets.com/r/tdyn2u

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