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2023 Electric Switch Global Market | Insights, Industry Outlook, Growing Trends And Top Key Players Include Havells India Limited, ABB Limited, Salzer Electronics Limited, Schneider Electric SE, General Electric Company (GE)
Electric Switch Global Market
Electric Switch Market Size, Growth Rate, And Forecast
The global electric switch market size is expected to grow from $12.95 billion in 2022 to $13.82 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The electric switch market size is expected to reach $17.15 billion in 2027 at a CAGR of 5.6%.
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Electric Switch Market Drivers
A rise in construction activities is expected to propel the growth of the electric switch market going forward. Construction activity includes any activity involved with construction on a site, such as houses, workplaces, roads, bridges and others. Electric switches are built on construction sites to control and run the electric appliances used in residences to provide comfort and assistance in people's daily activities.
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Electric Switch Market Segments
• By Type: Traditional Electrical Switch, Smart Electrical Switch
• By Poles And Throws: SPST (Single Pole Single Throw), DPDT (Double Pole Double Throw), SPDT (Single Pole Double Throw)
• By Construction: Push-Button Switches, Toggle Switches, Rotary Switches, Joystick Switches, Level Switches, Rocker Switches, Membrane Switches, Spiral And Stick Switches
• By State: Momentary, Locked Switches
• By End-User: Commercial, Residential, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Electric Switch market.
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Electric Switch Market Key Players
Major competitors in the Electric Switch market include Havells India Limited, ABB Limited, Salzer Electronics Limited, Schneider Electric SE, General Electric Company (GE), Opple Lighting Co. Ltd., Delixi Electric Ltd., Zhejiang Chint Electrics Co. Ltd., Simon S.A.U.
The Business Research Company's "Global Electric Switch Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Electric Switch Market Include:
1. Executive Summary
2. Electric Switch Market Characteristics
3. Electric Switch Market Trends And Strategies
4. Electric Switch Market - Macro Economic Scenario
5. Electric Switch Market Size And Growth
……..
27. Electric Switch Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electric Switch Market
29. Electric Switch Market Future Outlook and Potential Analysis
30. Appendix
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