Global Electromechanical Switch Market Report to 2027 - By Product, End-user and Region - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Electromechanical Switch Market, By Product, End User & By Region - Forecast and Analysis 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global electromechanical switch market was valued at USD 4.15 Billion in 2021, and it is expected to reach a value of USD 5.01 Billion by 2027, at a CAGR of more than 3.20% over the forecast period (2022- 2027).

Electromechanical switches are devices designed and used as additions to electrical circuits. They register over-current, over-voltage, reverse power flow, and frequency. All of this is done in order to reduce the risk of major accidents or flashovers related to the electrical system within a structure or in machinery.

Essentially, they work by tripping the circuit breaker when a fault is detected. If there is any discrepancy in the current an alarm is triggered by the relay and the system is shut off to minimize damage. There are a number of different kinds of relays, including digital, but electromechanical are among the most common options.

The growth of this market is driven by the increasing demand for tactile switches in military and aerospace applications, owing to their high reliability and durability. The demand for rotary switches in commercial applications is also expected to drive the growth of this market during the forecast period.

Increasing demand for automation in various industries such as automotive, aerospace, and healthcare is also driving the growth of the Electromechanical Switch market. The electromechanical switch industry is growing, as these products become increasingly in demand. This is due to the growing reliance on automation and machinery in production amongst other industries. It has made strong recoveries since the Asian economic collapse of the late 90s, and is finally coming back stronger than ever before. Trade agreements like NAFTA's have only served to strengthen them.

The report provides market sizing and forecast across five major regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA). In this report, the year 2016 to 2020 is considered a historical year, 2021 is the base year, 2022 is the estimated year, and years from 2022 to 2027 are considered the forecast period.

Aspects covered in this report

• Based on Product type, this market is segmented into Tactile, Rotary, Encoder, Toggle, Push, Detect, Micro, Dip, and Others
• Based on End-user, this market is categorized into Military, Aerospace, Commercial, Industrial, Healthcare, Automotive, White Goods, and Others.
• Based on region, this market is categorized into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Companies Mentioned

• Alps
• Itt Industries
• Panasonic
• Omron
• Electroswitch
• Te Connectivity
• Otto
• Carling Technologies
• Nkk Switches

For more information about this report visit https://www.researchandmarkets.com/r/2xcvmv