The temperature & pressure switches permit the end-user to carry out smooth operations, are used with flammable material, and in hazardous locations, thus increases its application in numerous end-use industries. The growing demand for temperature & pressure switches is anticipated to rise in the forecast period, owing to the increasing number of end-use industries. Moreover, consumers are demanding technologically advanced products that are capable of enhanced monitoring capabilities. The demand for reliable, durable, explosion-proof, hermetically sealed, small Deadband range, and long-lasting temperature & pressure switches is rising across several industries globally. The growing investment in end-use industries boosts the opportunity for the market players to develop temperature & pressure switches. The market players are offering an extensive range of products and the required customization & service capabilities to meet the customers’ exclusive demands. The business strategies of temperature & pressure switches manufacturers are revolving around developing and promoting new and innovative products.
Baumer Holding AG, Beck GmbH Druckkontrolltechnik, Danfoss A/S, SMC Corporation, Parker Hannifin Corporation are the top five market players operating in the temperature and pressure switches market. The listing/positioning of key players is derived by considering multiple parameters such as overall revenue, segment revenue, brand image, current temperature and pressure switches products and solution portfolio, R&D expenditure, customer/user base, geographic reach, new product/service launches, market initiatives, mergers & acquisitions, and other market-related activities. ABB Ltd., Eaton Corporation Plc. Honeywell International Inc., and WIKA Alexander Wiegand SE & Co. KG are few other notable players that were studied during the market study. In addition to these players, multiple other leading global and regional market players, emerging companies, market disruptors and niche market players were studied and analyzed during the course of this study.
The market for temperature and pressure switches is segmented into product type, end-user, and geography. Based on product type, the temperature and pressure switches market is divided into temperature switches and pressure switches. The pressure switches segment is projected to be the fastest-growing segment during the forecast period. Based on end-user, the market is segmented into residential and commercial, food and beverages, marine, automotive, aerospace and defense, chemicals, oil and gas, and others. Geographically, the market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). In 2019, North America held the largest share followed by APAC and Europe. APAC is projected to be the fastest growing region from 2020 to 2027.
Baumer Holding AG, Beck GmbH Druckkontrolltechnik, Danfoss A/S, SMC Corporation, Parker Hannifin Corporation – PROMINENT MARKET PARTICIPANTS IN TEMPERATURE AND PRESSURE SWICTHES MARKET
Most of the market initiatives were observed in North America region, which has a high potential for temperature & pressure switches providers. Few of the important market initiatives and product developments from the industry are mentioned below:
|
Year |
News |
Country |
|
2020 |
ABB Ltd. to open distribution center in Phoenix, Arizona, US which will serve as West Coast Distribution Center for the company. |
North America |
|
2019 |
WIKA Alexander Wiegand SE & Co. KG launched PSD-4-ECO, a new pressure switch with IO-Link and display. |
Europe |
|
2018 |
WIKA Alexander Wiegand SE & Co. KG launched PSM-550, new heavy-duty pressure switch for industrial applications. |
Europe |
