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Pressure switches are one of the most commonly used fluid control components used in numerous industry verticals for controlling operations and process optimization. The switches are essential for industrial automation to analyze, monitor, and control the deviation in the system caused by pressure rise. It not only helps to achieve superiority while operating system but also reduces the maintenance cost by acting promptly. The exponential growth in refrigeration & air conditioning, district heating & cooling, industrial automation, hydraulics & pneumatics, and automotive, among others where pressure switches play an important role. Also, the expansion of railway networks and metros across the world may fuel the demand for pressure switches. In addition to this, several countries are focussing on sustainable energy development by adopting highly advanced technology. Therefore, pressure switches may expect massive growth in the upcoming years.
Key Market Driver -
Key Market Driver – Rising demand for automation and expansion of manufacturing industries
Key Market Restraint -
Key Market Restraint – High Cost associated with pressure switches
The pressure switch market is divided into type, pressure range, application, and end-user. Type is bifurcated into the electromechanical and solid-state. The growing deployment of pressure switches in the manufacturing and processing industries is expected to offer lucrative growth for electromechanical segment. Based on the pressure range, the market is segmented as below 100 bar, 100-400 bar and above 400 bar. On the basis of application, the pressure switch is further classified into HVAC, monitoring & control, safety & alarm system, hydraulics & pneumatics, and others. Enormous installation of air conditioning units along with expansion of district cooling & heating system is expected to offer the largest market share. On the based on end-user, the market is bifurcated into the automotive, process & manufacturing industry, and the commercial sector.
Increasing demand for automation to increase productivity and reduce operational cost is projected to fuel the demand for pressure switches. Simultaneously, the expansion of manufacturing and processing industries especially automotive and aviation which requires high tech equipment.
The pressure switches are quite expensive and prone to malfunction due to fluctuating pressure of a liquid or fluid that may retard the growth of the pressure switch market.
Some of the major companies for pressure switch are ABB, Eaton, Danfoss, Parker Hannifin, Bosch Rexroth, Barksdale Inc., Emerson, Honeywell, Schneider Electric, Mamco, Nason, All Sensors Corporation, and Trafag AG.
The global pressure switch market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The expansion of industrial automation for process optimization in a wide variety of industry verticals is expected to offer a positive outlook for the growth of the pressure switch market. Growing investment in aviation & aerospace, electric vehicle, renewables, and oil & gas that require many control switches for processing operation will exhibit a profitable market for pressure switch. European countries are extensively investing in automation and process optimization. Germany, UK, Italy, France, and Russia among others are widely adopting advanced technology in manufacturing industries. Investment in district heating, renewables, manufacturing, etc. may fuel the growth of the pressure switch in Europe.
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The emerging economies in APAC, such as China, Japan, and India are expected to dominate the pressure market. Exponential investment in energy & power and manufacturing sector, which require numerous controlling equipment for process optimization that will drive the pressure switch market in APAC. Oil baron countries in MEA, such as Saudi Arabia, UAE, Iran, Kuwait, and Qatar among others are continuously financing E&P activities to increase the production of oil and gas. Thus, the growing investment in energy and power may boost the pressure switch market in MEA.
By Pressure Range
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