Pressure Switch Market Analysis by Global Industry Growth, Regions, Types and Forecasts 2023

The Pressure Switch Market is projected to reach US$ 2.09 Billion by 2023, from an estimated US$ 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. For instance, pressure switches are used in trains, marine, and vehicles for various monitoring and controlling operations.

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Based on end-user, the pressure switch market is segmented into automotive & transportation, process & manufacturing industry, and commercial. The automotive & transportation segment held the largest share in pressure switch market in 2017 and is expected to grow at the fastest CAGR from 2018 to 2023. The global automobile production has seen significant growth in last few years from 94 million units to 97 million units from 2016 to 2017.

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. The country showed a significant growth from its manufacturing sector and had a major share of the passenger car production segment in 2017 in the region.

Top Key Players in the “Pressure Switch Market” include are

• ABB (Switzerland)
• Eaton (Ireland)
• Danfoss (Denmark)
• Schlumberger (US)
• Parker (US)

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The Study Objectives of this report are:

• To strategically analyze the pressure switch market with respect to individual growth trends, future expansions, and contributions to the market
• To provide detailed information about major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
• To forecast the growth of the pressure switch market with respect to the major regions (Asia Pacific, Europe, North America, Middle East & Africa, and South America)
• To strategically profile key players and comprehensively analyze their market rankings and core competencies
• To analyze competitive developments such as new product development, mergers & acquisitions, partnership & collaboration, and contracts & agreements, in the pressure switch industry

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Target Audience for Robotic Welding Market

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

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