Temperature and Pressure Switches Market By Product Type (Temperature Switches, Pressure Switches); By Distribution Channel (Online, Offline); By End-user (Residential, Commercial, Food and Beverages, Marine, Automotive, Aerospace and Defense, Chemicals, Oil and Gas, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Temperature and Pressure Switches Market Overview
The global temperature and pressure switches market size was valued at around USD 6.5 billion in 2022 and is projected to grow at a compound annual rate of growth (CAGR) of around 3.7% from 2022 to 2032.The market size is projected to succeed in USD 9.4 billion by 2032.
Temperature and pressure switches, these days, are used in various equipment's for the purpose of controlling and monitoring. The main function of temperature switches is to limit the temperatures in the industry. This switch is typically used to on or off at discrete process temperatures. Whereas, a pressure switch is a form of switch that operates to provide systems with electrical feedback in response to measuring a rise or fall in pressure. These switches are used across a large range of industry and manufacturing applications.
These help in carrying out smooth operations and can be used with flammable material, hazardous locations, or explosive atmospheres, which increases their application in various industries. Temperature variations taking place around the temperature switches or in enclosed spaces are sensed by the temperature switches. The mechanism of these switches is almost similar.
Global market for temperature and pressure switches is expected to grow at a significant rate throughout the decade.
Temperature and Pressure Switches Market Drivers
The growth of this market is attributed towards major relying factors including the global increase in the demand for electronic products , increasing adoption of automation in the industries, growing trends of industry 4.0, rapid industrialization, considerable rise in private investments toward the development of temperature & pressure switches and growing demand for temperature & pressure switches from both the residential as well as the commercial sector, rapid technological advancements and innovations as a result of emerging requirements in the industry etc.
The ongoing research and development activities to explore new sensing mechanisms and discover new functional materials, massive attention is being given to the development of the integration technology of flexible devices, especially in the field of sensor development.
Moreover, instead of the extensive use of temperature switches for general-purpose applications, the growing demand from the automotive, pharmaceuticals, and food & beverages industry are projected to create potential demand in the future.
Apart from food and beverages and oil and gas industries, temperature switches are used in extensive applications. Temperature switches find application in the cooling and heating circuits, mobile hydraulics, motors, machine building, and compressors and many more.
Also, technologically advanced products with increased monitoring capabilities are demanding durable, explosion-proof, reliable, and long-lasting temperature and pressure switches, which propels the growth of the temperature and pressure switches market.
Furthermore, the wide range of applications of these switches in HVAC, monitoring, and control, vehicles, safety and alarm systems, boilers, burners, air heaters, and others are also expected to enhance the growth of this market.
Though, the COVID-19 pandemic is anticipated to have a short-term impact on the overall growth of the global temperature & pressure switches market due to the closure of the industrial sector in various regions, stringent lockdown measures imposed by government authorities, and restrictions on cross-border trade and transportation, the industries will gradually open up and begin to operate under normal conditions, the production of temperature & pressure switches is expected to gain momentum in the third and fourth quarter of 2020.
However, the inconsistency associated with the raw material prices are expected to hinder the growth of this market.
Temperature and Pressure Switches Market Segmentation
By Product Type
- Temperature Switches
- Pressure Switches
By Distribution Channel
- Online
- Offline
By End-user
- Residential
- Commercial
- Food and Beverages
- Marine
- Automotive
- Aerospace and Defense
- Chemicals
- Oil and Gas
- Others
Temperature and Pressure Switches Market Regional Insight
The Asia Pacific is currently dominating the temperature and pressure switches market. Owing to growing industrialization, technological advancement in the industrial sector in terms of operations, focus towards the reduction of human error and automation of industrial infrastructure in order to increase productivity, decrease manufacturing cost & time along with the increased efficiency and increasing investment by the major players in the region, the region is expected t continue its dominance.
Temperature and Pressure Switches Market Segmentation
- Baumer Group
- Beck GmbH
- Druckkontrolltechnik
- Eaton Corporation Plc
- Honeywell International Inc.
- Parker-Hannifin Corporation
- Schneider Electric SE
- SMC Corporation
- WIKA Group
- Danfoss
- Panasonic
- Waytech
- Microchip Technology
- Barksdale Inc.
- Texas Instruments
- Hytec Group
- SOR Inc.
- ABB
- United Products
- Other Players
RECENT DEVELOPMENTS:
- In Oct 2020, Heilind Electronics, a leading distributor of electronic components and authorized distributor for All Sensors Corporation (an Amphenol Company), added the manufacturer’s DLVR Series mini digital output pressure sensor to its sensor offering. The DLVR Series pressure sensors offesr a fully customizable, turn-key solution for design engineers looking for a digital pressure sensing device.
- In Nov 2020, Siemens Smart infrastructure, in the medium-voltage switchgear of the blue portfolio, eliminated fluorine-based gas mixtures (F-gases) while retaining compact design and safe operation. A load-break switch equipped with a special vacuum interrupter is the new centerpiece for F-gas free medium-voltage applications in secondary distribution grids from 12 to 24 kV.
- In Nov 2020, Raritan, a brand of Legrand, and a leading provider of intelligent data center management and rack power distribution solutions, announced the release of their Smart Rack Controller (SRC). The new offering addresses facility and data center management requirements to gather environmental information around IT devices through connected
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2032: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global temperature and pressure switches market by the following segments:
- Product Type
- Distribution Channel
- End-user
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Temperature and Pressure Switches Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2022-2032?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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- Publication date: 13th January 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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