Energy and Power Solid State Pressure Switch Market | Page 2

segment is anticipated to witness the highest growth rate during the review period. Meanwhile,
the automotive & transportation segment is also likely to gain prominence as pressure switches
play a vital role in this segment by offering monitoring and control system to applications like
marine, railway, and roadways.
Regional Insights
Geographically, the pressure switch market span across regions namely, Europe, North
America, Asia Pacific, and the Rest-of-the-World (RoW).
Considering the global scenario, the Asia Pacific region occupied the largest market share in
2017. The region is considered to retain its growth in the long run due to the surging application
of pressure switch in commercial and industrial sector. With developing economies registering
a significant growth in the automation sector, the regional market is likely to gain prominence.
Nations like India is highly contributing towards the manufacturing sector, which further
influences the market growth in this region. Moreover, South Korea is extensively investing in
automotive & transportation sector which triggers the demand for pressure switch market in
this region.
Industry Updates
May 27, 2019: A part of the Endress+Hauser Group, Innovative Sensor Technology IST AG
continues its growth curve. The sensor specialist, on 24 May 2019 has officially opened an
expansion of its plant in Ebnat-Kappel. The facility, which has been constructed at a cost of
€15 million, offers double the floor space.
Competitive Dashboard
The prominent players operating in the global pressure switch market comprises Eaton
(Ireland), ABB Ltd. (Switzerland), Parker Hannifin Corp (US), Danfoss (Denmark), Baumer
(Switzerland), Bosch Rexroth AG (Europe), Honeywell International Inc. (US), Emerson
Electric Co. (US), SMC Corporation of America (US), Schneider Electric (France),
Endress+Hauser Consult AG (Switzerland), SOR Inc. (US), and Barksdale Inc (US).
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