The Pressure Switch market industry is projected to grow and expand from USD 2.07 Billion in 2024 to USD 2.87 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.15% during the projected timeframe (2024 - 2032). Pressure Switch Market Size was valued at USD 1.98 Billion in 2023. HVAC systems are becoming increasingly popular, and mechanical switches for pressure are being replaced with electrical pressure switches, which are the key market drivers contributing to market growth and development.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The rising popularity of HVAC systems drives the Market CAGR for PRESSURE SWITCHES. The growing number of smart residences, the desire to reduce operating expenses, the need for environmentally friendly heating and cooling systems, and the growth in government programs to promote HVAC system upgrades are expected to propel the HVAC market. This is projected to increase the need for pressure switches. Increased expenditures in smart city initiatives, the auto industry, and the development of infrastructure projects drive market growth. Following the German Association of the Car Industry (VDA), car sales increased 5.3% between 2016 and 2017. As a result, increasing consumer appetite for electric cars and increased automobile manufacturing are propelling the automotive and transportation sectors.
Additionally, several industries are swiftly substituting traditional pressure switches with electronic pressure valves in their machines. They provide higher accuracy, consistency, ease of use, shifting phases, and stability over time. As a result, the market for electronic pressure switch technology is predicted to rise during the forecast period due to the substitution of traditional pressure switches in aging infrastructure.
The COVID-19 epidemic has affected corporate profitability in practically every industry. While the power industry was not as badly hit as other industries, industrial and commercial clients' electricity usage is considerably lower. Furthermore, the electricity sector has seen a global decline in demand and price reductions. North America, particularly the United States and Canada, has been severely hit, with the area seeing all-time low electricity costs in the first three months of 2020. Furthermore, due to the seriousness of the COVID-19 epidemic, many companies are focusing solely on critical tasks. This has caused a halt in the installation of electric components. Producers of hardware components in the power sector are dealing with several challenges relating to order closures due to the worldwide shutdown. The power production sector requires durable and efficient switchgear to meet the need for dependable electricity. Furthermore, several businesses are functioning at half capacity to assist critical industries such as electricity generation and production. However, as economies aim to resume operations to improve income creation progressively, consumer interest in switchgear is likely to resume its usual growth rate.
For instance, according to the German automobile industry organization, sales in the automotive market increased by 5.3% between 2016 and 2017. As a result, rising EV demand and increased manufacturing of cars are propelling the Switching Devices market in the transportation and automotive sectors. Thus, demand for Pressure Switches is anticipated to increase throughout the projected timeframe due to the popularity of HVAC systems. Thus, driving the Pressure Switch market revenue.
The Pressure Switch Market segmentation, based on Type, includes Electromechanical and Solid State. The electromechanical category dominated the market, accounting for 62% of market revenue (USD 1.2 Billion) in 2022. The increasing use of electromechanical switches for pressure in commercial and industrial settings will likely drive the overall market.
Figure 1: Global Pressure Switch Market, by Type, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Pressure Switch Market segmentation, based on Pressure Ranges, includes Below 100 Bars, 100 to 400 bars, and Above 400 Bars. The below 100 bars category generated the highest market revenue of about 43% (USD 1 billion) in 2022. This is primarily because of rapid development in the transportation and automotive sectors.
The Pressure Monitoring Systems Market segmentation, based on Application, includes HVAC, Monitoring & Control, Safety & Alarm Systems, Hydraulics & Pneumatics. The HVAC segment dominated the market, accounting for 46% of market revenue (USD 0.9 Billion) in 2022. Pressure switches enable HVAC systems to function at peak efficiency and provide better maintenance, likely driving the overall market during the projected timeframe.
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Pressure Switch market will dominate during the projected timeframe, owing to various worldwide competitors vying for a major portion of the total market, boosting the market growth in the North American area.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Pressure Switch Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Pressure Switch market accounts for the second-highest market share due to the emphasis on decreasing mistakes and automation manufacturing processes to boost productivity, reduce manufacturing expenses or time, and improve efficiency to drive the Pressure Switch industry. Further, the German Pressure Switch market holds the largest market share, and the UK Pressure Switch market is expected to grow and expand significantly in the European region during the projected timeframe.
The Asia-Pacific Pressure Switch Market is expected to grow quickly during the projected timeframe. APAC Market is associated with the need for these switching devices due to the rapid rise of industries in operations and technological improvement. Moreover, China’s Pressure Switch market dominates the market share, and the Indian Pressure Switch market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.
Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Fluid Control Devices market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their global footprint, with significant market developments including new Type portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Pressure Switch industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the global Pressure Switch industry to benefit customers and capture untapped market share and revenue. The Pressure Switch industry has recently offered significant advantages to the Industrial Automation & Equipment industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the Pressure Switch market, including Hitachi Power ABB Grids, Eaton, Parker Hannifin Corp, Barksdale Inc., BD|SENSORS GmbH, Tameson B.V, LEFOO, Emerson, Danfoss, SMC Corporation, Fox S.r.l., MAMCO, Nason, Applications Engineering Ltd., Suco, IFM, Baumer Group, Bosch Rexroth AG, Honeywell International Inc. are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.
Eaton has been in the power management industry for almost a century. Electrical goods, electrical services and systems, airplanes, vehicles, and, most recently, eMobility are among the categories in which the firm works. Eaton's portfolio may be separated into two parts. Eaton stated in January 2022 that it had completed the purchase of Royal Power Options, a US-based manufacturer of high-precision electrical connection gear used in electric cars, energy management, and commercial and adaptability industries.
ABB Ltd. is a multinational corporation that develops and distributes power and automation solutions. Electrification, Commercial Automation, Motion, Robots & Combinatorial Automation, and Corporation are its business divisions. The firm was established on January 5, 1988, & is based in Zurich, Switzerland. ABB will finalize the sale of 80.1% of its Power Grids division to Hitachi in July 2020. ABB concentrated on critical market developments; consumer needs like digitalization of transportation and business, automated production, electronic solutions, and greater productivity improvements due to the divestiture.
November 2023
Leading manufacturer of high-performance lighting equipment, Streamlight® Inc., has released the ProTac® Rail Mount HL-X Pro gun-mounted light, which has an exceptional beam reach of 447 meters, 1,000 lumens, and 50,000 candelas. The new light comes with an inventive Jack-CapTM tail cap switch that allows users to choose between two different battery types and operates as a push-button or remote pressure switch.
With its robust integrated rail clamp, the lightweight, low-profile ProTac Rail Mount HL-X Pro is ideal for quickly and safely mounting to rifles, carbines, and submachine guns that meet MIL-STD 1913 (Picatinny) standards. It may also be used to connect to M-LOK or M-LOK-compatible rail systems by using the accompanying M-LOK® mount. Either one Streamlight rechargeable SL-B26® lithium-ion battery pack or two 3-volt CR123 lithium batteries are used to power it.
The 'whole package' is this latest addition to the ProTac family of weapon-mounted lights, said Ray Sharrah, president, and chief executive officer of Streamlight. With its 50,000 candela and extended beam reach, it not only performs as a high-lumen light but also casts more light on a distant object. This makes it an effective tactical weapon for first responders, law enforcement officers, and military personnel to use while conducting room clearing, search operations, and other maneuvers in low light. Its unique tail cap switch, which has a connector for a remote pressure switch and a push-button switch, offers switch redundancy.
With a one-handed, snap-on and tighten interface, the new light attaches on a wide variety of weapons safely and securely, allowing users to keep their hands away from the gun muzzle. The optional remote switch comes in momentary only and momentary/latching variants. The light's multi-function, push-button tail switch allows momentary and latching continuous operation. Both enable one-handed use of the light's strobe, continuous on, and momentary on modes.
Jan 2022: Eaton stated in January 2022 that it had completed the purchase of Royal Power Options, a US-based manufacturer of high-precision electrical connection gear used in electric cars, energy management, and commercial and adaptability industries.
October 2020: SMC Corporation will release its latest 3-Screen Monitor High-Precision Electronic Pressure Valve ZSE20(F)/ISE20 Series in October 2020. It adds additional features, including made-to-order choices and a simple fitting style to the pipe specs.
July 2020: ABB will finalize the sale of 80.1% of its Power Grids division to Hitachi in July 2020. ABB concentrated on critical market developments; consumer needs like digitalization of transportation and business, automated production, electronic solutions, and greater productivity improvements due to the divestiture.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 1.98 Billion |
| Market Size 2024 | USD 2.07 Billion |
| Market Size 2032 | USD 2.87 Billion |
| Compound Annual Growth Rate (CAGR) | 4.15% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Pressure Range, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Hitachi Power ABB Grids, Eaton, Parker Hannifin Corp, Barksdale Inc., BD|SENSORS GmbH, Tameson B.V, LEFOO, Emerson, Danfoss, SMC Corporation, Fox S.r.l., MAMCO, Nason, Applications Engineering Ltd., Suco, IFM, Baumer Group, Bosch Rexroth AG, Honeywell International Inc. |
| Key Market Opportunities | Mechanical switches for pressure are being replaced with electrical pressure switches. |
| Key Market Dynamics | HVAC systems are becoming increasingly popular. |
Pressure Switch Market Highlights:
Frequently Asked Questions (FAQ) :
The Pressure Switch Market size was valued at USD 1.98 Billion in 2023.
The Pressure Switch Market is estimated to grow at a CAGR of 4.15% during the projected timeframe.
North American area has the highest percentage of the global market.
The key participants in the Pressure Switch Market are Hitachi Power ABB Grids, Eaton, Parker Hannifin Corp, Barksdale Inc., BD|SENSORS GmbH, Tameson B.V, LEFOO, Emerson, Danfoss, SMC Corporation, Fox S.r.l., MAMCO, Nason, Applications Engineering Ltd., Suco, IFM, Baumer Group, Bosch Rexroth AG, Honeywell International Inc.
The Electromechanical category dominated the market in 2022.
Below 100 bars had the largest share of the global market.
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