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Pressure Switch Market (Impact of COVID-19) Expected to Witness a Sustainable Growth over 2027

05-04-2021 12:40 PM CET | Energy & Environment

Press release from: Allied Market Research

Pressure Switch Market

Pressure Switch Market

Increase in demand for electric vehicles and surge in automobile production have boosted the growth of the global pressure switch market. Moreover, rise in application of heating, ventilation, and air conditioning (HVAC) and pneumatic & hydraulics-based applications are expected to create lucrative opportunities for the market players in the coming years. However, limited monitoring capabilities hamper the market growth.

As pressure switches are highly reliable and available in a compact size, they are widely applicable in the automotive sector. Moreover, manufactures have designed lightweight by incorporating a piezo-resistant sensor gauge, noise counter measures circuits, amplifier circuit, and over current protection circuit onto a single chip, which reduced the number of connecting parts. Thus, pressure switches are effectively used in engine control for the detection of fuel tank leaks and pressure in the exhaust system. Moreover, in electric vehicles, pressure switches are used to increase compliance with the environment through features such as gas corrosion resistance and noise resistance.

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The global pressure switch market is segmented into type, pressure range, application, end user, and region. Depending on type, the market is categorized into solid state and electromechanical. On the basis of application, it is segregated into monitoring & control, HVAC, safety and alarm system, and hydraulics & pneumatics. By pressure range, it is fragmented into below 100 bar, 100–400 bar, and above 400 bar. As per end user, it is differentiated into automotive & transportation, commercial, and process & manufacturing industry. Regionally, the market is studied across Europe, North America, Asia-Pacific, and LAMEA.

The key players operating in the global pressure switch market include Eaton Corporation (Ireland), ABB Ltd. (Switzerland), Parker Hannifin Corp (U.S.), Danfoss (Denmark), Baumer (Switzerland), Bosch Rexroth AG (Germany), Honeywell International Inc. (U.S.), Emerson Electric Co. (U.S.), SMC Corporation of America (U.S.), Schneider Electric (France), Endress+Hauser Consult AG (Switzerland), SOR Inc. (U.S.), and Barksdale Inc. (U.S.).

COVID-19 scenario analysis

Falling demand in various end-use industries and social distance restrictions in manufacturing plants reduced the demand for compressors and pumps or hydraulic switches in automotive industries, which negatively impacted the market growth.

Limited production or complete shutdown in manufacturing plants lead to decrease in demand for pressure switches in various applications, including exhaust ducts, air conditioners, dirt, and dust filter loading.

However, with the application of automation and deployment of limited labour force, the industry players are slowly improving the production volume, which further enhance the market demand for pressure switches in new projects.

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Key benefits of the report

• The study provides an in-depth analysis of the global pressure switch industry coupled with analysis about current trends and future estimations to foresee imminent challenges and take the necessary actions consequently.

• The report includes a detailed analysis of key drivers, opportunities, and challenges, and an in-depth study of the global pressure switch market share.

• The global pressure switch market is studied from 2020 to 2027 to highlight the growth possibilities.

• The study includes Porter’s five forces analysis that offers information about buyers & suppliers in the market.

• The report provides analysis of the major market players active in the industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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