Pressure Switches are mostly used in industrial applications where there is operation for cold applications which necessitates closing the switch at desired pressure level either in pressure rise or pressure fall situation. It is also used in automation and transportation sector which enhances the market growth. Monitoring, control and safety & alarm system are the major applications in this market due to which it is estimated to grow at a phenomenal rate during the forecast period.

Pressure switches are of low cost which are higher in reliability and cost-effective. These switches are widely used in industries to automatically monitor the system that uses pressurized fluid for controlling the circuit. These switches are used in verticals of industries such as Automobile, beverage, pharma, machine tool, pulp & paper etc. However, it is estimated that there will be a substantial growth of the pressure switch market globally mostly because of the developing economies.

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Key Players

The key players of the Global Pressure Switch Market are ABB Ltd. (Switzerland), Eaton (Ireland), Danfoss (Denmark), Parker Hannifin Corp (US), Bosch Rexroth AG (Europe), Baumer (Switzerland), Emerson Electric Co. (US), Honeywell International Inc. (US), Schneider Electric (France), SMC Corporation of America (US), SOR Inc. (US), Endress+Hauser Consult AG (Switzerland) and Barksdale Inc (US).

Segmentation

Global pressure switch market has been segmented based on type, pressure range, application, end- user, and region.

Based on type, the market is classified into electromechanical and solid-state. electromechanical segment is dominating the market share, mainly due to the less cost involved in setting up the system for both, commercial and residential use.

Based on application, the market is further segmented as off-grid and on- grid. On-grid segment dominates the market in this sector as on-grid systems are very cost-effective, reliable and efficient.

Based on end-user, including residential, industrial, and commercial segments. Commercial segment is estimated to register the highest growth rate during the forecast period.

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Regional Analysis

Region wise, Asia-Pacific region held the largest market share of the global pressure switch market in 2017. It is anticipated that Asia-Pacific region will continue to dominate the market during the forecast period, mainly due to the rising application of pressure switch in industrial and commercial sector, as developing countries shows a significant growth in automation.

In Asia-Pacific region countries such as India is increasing the contribution towards manufacturing sector, while South Korea is investing heavily in automotive & transportation sector which enhances the market demand for pressure switch market in the forecasted period. Owing to its reliability in operation, North America is also increasing the market due to stringent regulations by government in terms of safety measures.

Europe accounting for the largest market share. Europe has over 100 geo thermal stations installed, which produced about 15 TWh of electrical power in the year 2016. The installed capacity in 2016 was 2.5 GWe and is expected to reach 3 GWe by 2020.

North America holds the second largest share in the geothermal segment with over 77 installed plants and an installed capacity of 3,086 MW.

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