Energy and Power Solid State Pressure Switch Market

Solid State Pressure Switch Market Overview
As per a detailed analysis by Market Research Future (MRFR), the global pressure switch
market is anticipated to garner a CAGR of 4.43% during the forecast period (2018-2023).
Pressure switches can be defined as the switches which closes or opens the circuit when certain
amount of fluid pressure is achieved on the input terminal. The switches are extensively used
in industries to monitor the system automatically which uses the pressurized fluid to control
the circuit. Pressure switches are cost-effective and are highly reliable and are dominated by
wide pressure range availability. These switches find applications across verticals such as
beverage, automobile, machine tool, pharmaceuticals, pulp & paper, and others. The
developing economies will provide an impetus to the market’s growth.
Market Potential and Pitfalls
The Solid State Pressure Switch Market has experienced a tectonic surge in the past few
years due to the surging investments in the automotive sector and smart cities along with the
development in the infrastructural projects. As per the German Association of Automotive
Industry, the sales of automotive sector experienced a boom of 5.3% from 201 to 2017. Thus,
the growing demand for electric vehicles along with the booming automobile production across
the globe is contributing to the growth of pressure switch market in the automotive and
transportation industry. The rising application of pressure switch in hydraulics & pneumatic
and HVAC is influencing the growth of the market across the globe. As per the Industrial
Development Report 2018, governments worldwide are encouraging industrialization by
highly investing in the industries. This is likely to have a positive impact on the growth of the
market.
On the contrary, limited monitoring capabilities are considered to restrict the growth of
pressure switch market during the assessment period.
Solid State Pressure Switch Market: Segmental Analysis
The global pressure switch market has been segmented on the basis of pressure range, type,
application, and end- user.
By mode of type, the global pressure switch market comprises electromechanical and solid-
state. Among these, the electromechanical segment is considered to dominate the segment
owing to the less cost associated with the setting up of the system for residential as well as
commercial purposes.
The application segment of pressure switch market constitutes of HVAC, safety & alarm
systems, monitoring & control, and hydraulics & pneumatics. Among these, the HVAC
segment is likely to gain prominence as pressure switches help the HVAC systems to operate
at optimum levels.
Considering the pressure range, the market is segmented into below 100 bar, 100– 400 bar and
above 400 bar. Among these, the below 100 bar segment is likely to enhance the market growth
owing to the surging application of pressure switch in industrial, automotive, and transportation
sector.
Automotive & transportation, process & manufacturing sector, and commercial sector
comprises the end-user segment of pressure switch market. Among these, the commercial