DUBLIN--(BUSINESS WIRE)--The "Pressure Switch Market by Type (Electromechanical, Solid State), Pressure Range (Below 100 bar, 100-400 bar, Above 400 bar), Application (HVAC, Monitoring & Control, Safety & Alarm Systems, Hydraulics & Pneumatics), End-User -Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The pressure switch market is projected to reach USD 2.09 billion by 2023, from an estimated USD 1.69 billion in 2018, at a CAGR of 4.39%, from 2018 to 2023.
This growth can be attributed to the increasing demand for pressure switches in the transportation sector and the increasing focus on process automation. For instance, pressure switches are used in trains, marine, and vehicles for various monitoring and controlling operations.
These major applications coupled with rising investments in the transportation sector are expected to boost the use of pressure switches in the automotive & transportation sector. Limited monitoring capabilities can restraint the growth of the pressure switch market.
The solid-state segment is estimated to be the fastest growing segment, during the forecast period. The solid-state pressure switches are used in various applications such as white goods, medical equipment, process control, automobile, and lubricant monitoring.
The solid-state pressure switches provide higher level of precision and longer life cycle, better accuracy, broad frequency response, high resistance to shock and vibration, and improved capability to handle a wide range of system pressure, thereby driving the demand for the solid-state segment in the pressure switch market.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Pressure Switch Market, By Type
7 Pressure Switch Market, By Pressure Range
8 Pressure Switch Market, By Application
9 Pressure Switch Market, By End-User
10 Pressure Switch Market, By Region
11 Competitive Landscape
12 Company Profiles
- Baumer Group
- FOX Srl
- SMC Corporation
For more information about this report visit https://www.researchandmarkets.com/research/j4bbcf/global_2_09_bn?w=4
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