Pressure Switches Squeezing A Couple Billion Out Of The Market

MarketsandMarkets’ research report "Pressure Switch Market by Type, Pressure Range, Application, End-User - Global Forecast to 2023", indicates the pressure-switch market is expected to grow from an estimated $1.69 billion in 2018 to $2.09 billion by 2023, at a CAGR of 4.39%, from 2018 to 2023. Rising focus on process automation and investments in the transportation sector are expected to drive the pressure-switch market. Moreover, the low cost of pressure switches coupled with their multi-functionality results in wide use of the components in applications such as oil & gas, chemicals, power generation, water & wastewater, and mining industries.

 

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  • The electromechanical segment is expected to hold the largest share of the Pressure Switch Market, by type, during the forecast period.
  • The HVAC segment of the Pressure Switch Market, by application, is expected to grow at the highest CAGR during the forecast period.
  • The automotive & transportation segment of the Pressure Switch Market, by end-user, is expected to grow at the highest CAGR during the forecast period.
  • Asia Pacific: The leading market for pressure switch
  • Top players in the pressure-switch market include ABB (Switzerland), Eaton (Ireland), Danfoss (Denmark), Schlumberger (US), and Parker (US).  

Feeling pressured to learn more? If so, you can browse the "Pressure Switch Market" report.

 

MarketsandMarkets Inc.

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