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Pressure Switch Market Share
The market demonstrates a degree of fragmentation, characterized by the presence of multiple regional players on a global scale. In 2023, companies like Honeywell International Inc., Schneider Electric SE, Danfoss A/S, Siemens AG, Emerson Electric Co., ABB Ltd., expected to hold market share of 15%-20%. Leveraging their well-established distribution channels and resources, these entities frequently venture into new markets. They actively engage in strategic initiatives such as mergers, acquisitions, facility expansions, and partnerships to broaden their product offerings, expand their customer reach, and strengthen their foothold in the market.
Pressure Switch Market Companies
Major players operating in the pressure switch industry are:
- ABB Ltd.
- Ashcroft Inc.
- Danfoss A/S
- Eaton Corporation plc
- Emerson Electric Co.
- Endress+Hauser Group
- Festo AG & Co. KG
- Gems Sensors & Controls
- Honeywell International Inc.
- Hubbell Incorporated
- Parker Hannifin Corporation
- Schneider Electric SE
- Siemens AG
- SMC Corporation
- WIKA Alexander Wiegand SE & Co. KG
Who are the leading pressure switch industry players?
ABB Ltd., Ashcroft Inc., Danfoss A/S, Eaton Corporation plc, Emerson Electric Co., Endress+Hauser Group, Festo AG & Co. KG, Gems Sensors & Controls, Honeywell International Inc., Hubbell Incorporated, Parker Hannifin Corporation, Schneider Electric SE, Siemens AG, SMC Corporation, and WIKA Alexander Wiegand SE & Co. KG
What factors are influencing pressure switch market growth in Asia Pacific?
Asia Pacific pressure switch industry is expected to be worth USD 1.8 billion by 2032, due to the infrastructure expansion and the construction of various structures like buildings, roads, bridges, airports, and utility systems.
Why is the demand for electromechanical pressure switches rising?
Electromechanical pressure switch industry is projected to reach USD 2.9 billion by 2032, owing to their reliability and durability and less vulnerability to electronic failures.
How big is the pressure switch market?
Pressure switch industry size recorded USD 2.9 billion in 2023 and is expected to depict 5.1% CAGR from 2024 to 2032, led by the rising prevalence of industrial automation in sectors like manufacturing, automotive, and aerospace.