Pressure Switch Market to Grow Steady at 4.39% CAGR to 2023, led by HVAC, Hydraulics & Pneumatics End Users- ReportsnReports.com

PUNE, India, July 24, 2018 /PRNewswire/ --

The pressure switch market is projected to reach USD 2.09 billion by 2023, from an estimated USD 1.69 billion in 2018, at a CAGR of 4.39%, from 2018 to 2023. This growth can be attributed to the increasing demand for pressure switches in the transportation sector and the increasing focus on process automation.

Leading players in pressure switch market include ABB (Switzerland), Eaton (Ireland), Danfoss (Denmark), Schlumberger (US), and Parker (US). Contracts & agreements is the most commonly adopted strategy by the top players. This was followed by new product launches and mergers & acquisitions.

Browse 65 Market Data Tables and 41 Figures spread through 120 Pages and In-depth TOC on "Pressure Switch Market by Type (Electromechanical, Solid State), Pressure Range (Below 100 bar, 100-400 bar, Above 400 bar), Application (HVAC, Monitoring & Control, Safety & Alarm Systems, Hydraulics & Pneumatics), End-User - Global Forecast to 2023" at http://www.reportsnreports.com/reports/1568088-pressure-switch-market-by-type-electromechanical-solid-state-pressure-range-below-100-bar-100-400-bar-above-400-bar-application-hvac-monitoring-control-safety-alarm-systems-hydraulics-pneumatics-st-to-2023.html .

Key Target Audience:  

• Automotive & transportation sector
• Component manufacturers and suppliers
• Consulting companies in power sector
• Government and power research organizations
• Industrial automation service providers
• Pressure switch suppliers and manufacturers
• Process and manufacturing industries

Pressure switches are used in a variety of industrial and technical processes. If a preset pressure is reached, then the pressure switch opens or closes a respective switch contact. The resulting reliability is one of the advantages of mechanical pressure switches. A pressure sensor is any device that measures pressure and converts it to an electrical signal.

Order Now Research Copy of "Pressure Switch Market by Type (Electromechanical, Solid State), Pressure Range (Below 100 bar, 100-400 bar, Above 400 bar), Application (HVAC, Monitoring & Control, Safety & Alarm Systems, Hydraulics & Pneumatics), End-User - Global Forecast to 2023" Report at http://www.reportsnreports.com/purchase.aspx?name=1568088 .

The report defines, describes, and forecasts the global pressure switch market by type, pressure range, application, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.

The pressure switch market, by pressure range, is segmented into below 100 bar, 100-400 bar, and above 400 bar. The below 100 bar segment is expected to dominate the pressure switch market from 2018 to 2023.  Growth in the automotive & transportation sector is one of the key reasons behind the growth of the below 100 bar pressure switch market.

The pressure switch market has been analyzed with respect to 5 regions, namely, North America, Europe, South America, Asia Pacific, and Middle East & Africa. The market in Asia Pacific is estimated to be the largest pressure switch market, from 2018 to 2023. Countries such as India, plan to increase their contribution toward the manufacturing sector to reach 25% by 2025.

Download the Sample Brochure of Global Pressure Switch Market Research Study Now at http://www.reportsnreports.com/contacts/requestsample.aspx?name=1568088 .

Asia Pacific is expected to be the largest market for pressure switches in 2023 and is projected to grow at the highest CAGR, during the forecast period. China accounted for the largest share of the pressure switch market in the Asia Pacific region in 2017.

Break of primary participants was as mentioned below: 

• By Company Type: Tier 1- 35%, Tier 2- 45%, and Tier 3- 20%
• By Designation: C-Level- 35%, Managers- 25%, and Others- 40%
• By Region: North America-45%, Europe- 20%, Asia Pacific- 27%, Middle East & Africa- 5%, and South America-3%

Another research titled safety switch market is expected to grow at a CAGR of 4.5% between 2018 and 2023, reaching from USD 1.24 billion in 2018 to USD 1.55 billion by 2023. The key factors driving the growth of the safety switch market are the development strategies implemented by the players operating in the safety switch market. The key players operating in the safety switch market are General Electric (US), Schneider Electric (France), Rockwell (US), Siemens (Germany), ABB (Switzerland), Eaton (Republic of Ireland), Honeywell (US), Omron (Japan), Pilz (Germany), SICK (Germany), Banner Engineering (US), BERNSTEIN (Germany), Emerson (US), EUCHNER (Germany), Fortress Interlocks (UK), IDEC (Japan), IDEM (UK), Pepperl+Fuchs (Germany), Schmersal (Germany), and Stahl (Germany) and it is now available with discount at http://www.reportsnreports.com/contacts/discount.aspx?name=1483062 .

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