Market Research Future (MRFR) has published a cooked research report on the “pressure switch Market” that contains information from 2023 to 2032. The pressure switch Market is estimated to register a CAGR of 4.71% during the forecast period of 2023 to 2032 and projected to grow at USD 2.87 Billion by 2032.
MRFR recognizes the following companies as the key players in the Market — Honeywell International Inc (US), Eaton (Ireland), Parker Hannifin Corp (US), Emerson (US), Bosch Rexroth AG (Germany).
Pressure Switch Market Overview
As of the forecast period 2023 - 2032, the global pressure switch market Industrial pressure switches Market is anticipated to experience substantial growth, reaching a projected value of USD 2.87 Billion. The market is expected to achieve this growth with a notable Compound Annual Growth Rate (CAGR) of 4.71%.
A pressure switch is a type of control device used to monitor and control fluid pressure in a system. It is an essential component in various industries and applications, ensuring the safety, efficiency, and proper functioning of equipment and processes.
The pressure switch market has been witnessing significant growth due to its wide range of applications in various industries. A pressure switch is a type of control device that is used to monitor and control fluid pressure in a system. It operates by sensing changes in pressure and triggering a response when the pressure reaches a specific setpoint.
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Market segmentation
- By Pressure Range
- Below 100 Bar
- 100 to 400 Bar
- Above 400 Bar
By Application
- HVAC
- Monitoring & Control
- Safety & Alarm System
- Hydraulics & Pneumatics
By End Use
- Automotive & Transportation
- Process & Manufacturing Industry
- Commercial
By Type
- Electromechanical
- Solid State
Recent Developments
- BD|SENSORS GmbH - May 2021: BD|SENSORS launched the electric pressure switch DS5, specifically designed for mobile working machines like cranes, excavators, and harvesters. This compact component plays a vital role in monitoring and controlling the working pressure in hydraulic units, cooling systems, and steering aids. The DS5 contributes to enhanced safety and efficiency in these machines by providing reliable protection against malfunctions.
- SMC Corporation - October 2020: SMC Corporation introduced the new 3-Screen Display High-Precision Digital Pressure Switch ZSE20(F)/ISE20 Series. This innovative pressure switch offers various new features, including the option for made-to-order specifications and a one-touch fitting type for easy piping installation. These enhancements enhance the switch's flexibility and usability, meeting the demands of modern industrial applications.
- ABB - July 2020: In July 2020, ABB completed the divestment of 80.1 percent of its Power Grids business to Hitachi. This strategic move allowed ABB to focus on key market trends and customer needs, such as the electrification of transport and industry, automated manufacturing, digital solutions, and sustainable productivity. While not directly related to pressure switches, this development reflects ABB's focus on emerging market trends and customer-centric solutions.
Key Players
- Honeywell International Inc (US)
- Eaton (Ireland)
- Parker Hannifin Corp (US)
- Emerson (US)
- Bosch Rexroth AG (Germany)
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