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Pressure Switch Market Trends

Report ID: GMI9089
Published Date: Apr 2024
Report Format: PDF

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Pressure Switch Market Trends

Rigorous safety regulations and standards within industries such as oil and gas, petrochemicals, and food processing are propelling the demand for pressure switches. These switches are vital components within safety systems, guaranteeing the secure operation of equipment and averting accidents stemming from excessive or insufficient pressure. For example, in the United States, the Occupational Safety and Health Administration (OSHA) enforces workplace safety standards, including those concerning pressure equipment safety. Pressure switches employed in safety-critical scenarios must adhere to OSHA regulations to safeguard workers and prevent mishaps resulting from pressure extremes or equipment malfunctions, thus stimulating business expansion.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

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.

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.

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.

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