Rockville, June 29, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the Temperature and Pressure Switches Market is projected to reach a valuation amounting to around US$ 4 Bn by 2030, expanding at a steady CAGR during the assessment period. Notable developments in the manufacturing sector across the world have opened up new frontiers. Industrial production contributes a significant share towards a country’s economic development.
To enhance their growth prospects, countries are concentrating on streamlining their manufacturing sectors by introducing novel advancements. A significant advancement in this respect is the introduction of temperature and pressure switches. Various end-use industries require these switches at different stages of manufacturing processes. Sectors such as automobiles, chemical manufacturing, HVAC, and iron and steel have all led to significant growth of the temperature and pressure switches market.
For more insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=5220
Key Takeaways from Temperature and Pressure Switches Market Report
- Heightening demand for white goods to accelerate temperature and pressure switches market revenue prospects.
- Pressure switches to hold immense sway by product throughout the 2020-2030 assessment decade.
- HVAC industry to find maximum utilization of pressure switches, attributed to increased consumption in emerging economies.
- Asia Pacific is likely to dominate the global liquid filled temperature and pressure switches market, while Europe and North America to follow.
- Market is not likely to be majorly affected by the COVID-19 pandemic, owing to sustained demand from marine and heating & ventilation industries.
- Deepening penetration of smart devices to accelerate online marketing of temperature and pressure switches.
“Operational efficiency in industrial production is accelerating the popularity of flexible sensors, a notable trend likely to pivot the growth of the temperature and pressure switches market in the future,” remarks a Fact.MR analyst.
High Adoption In Heating Systems To Drive Temperature & Pressure Switches Industry
While the demand for temperature sensors is expected to grow at a rapid pace in the upcoming years, the demand for temperature & pressure switches is also projected to witness consistent growth during the assessment period. Temperature switches are increasingly being used to manufacture heating systems, boilers, burners, air heaters, and circulation pumps.
Furthermore, while temperature switches are extensively used in a broad spectrum of general-purpose applications, the growing demand from the automotive, pharmaceuticals, and food & beverages industry is one of the key factors expected to propel the temperature & pressure switches market during the forecast period. The complex nature of modern industrial machinery continues to drive innovations across the market for temperature & pressure switches and the trend is set to continue during the forecast period.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=5220
Temperature and Pressure Switches Market – Segmentation
Fact.MR’s research study assesses the global temperature and pressure switches market in terms of product, product range, price range, application, distribution channel, and region.
Product
- Temperature Switches
- Liquid-filled
- Bimetallic Strip
- Pressure Switches
- Electromechanical
- Solid State
Product Range
- Temperature Range (in o C)
- Below 50
- 50-70
- 70-120
- 120-150
- 150-250
- 250-500
- More than 500
- Pressure Switch Range
- Less than 10 Bar
- 10-50 Bar
- More than 50 Bar
Price Range
- Less than US$ 50
- US$ 50-100
- US$ 100-200
- More than US$ 200
Distribution Channel
- Online
- e-Commerce Websites
- Company-owned Websites
- Offline
- Hypermarkets
- Supermarkets
- Direct Sales
- Specialty Stores
- Others
Region
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- South America
Temperature and Pressure Switches Market Competitiveness
Prominent companies operating in the global temperature and pressure switches market are focusing on expanding their global outreach through portfolio expansion, strategic acquisitions, and collaborations with other players, establishment of regional distribution networks, and extension of RandD capacities.
- In July 2020, ABB announced its collaboration with Accenture in order to enhance its digital solutions. This collaboration will build on ABB’s expertise in digitalized processes for the transformation of industries and Accenture’s Information and Operational Technologies (IT/OT) architecture and software development capabilities across industries.
- In August 2020, Danfoss announced the launch of its highest capacity oil-free compressor known as 450-ton Turbocor® VTX, with the objective of bringing in efficiency and long-lasting performance to larger applications such as data centers, hospitals, and university campuses.
- Likewise, Schneider Electric unraveled a series of completely anti-bacterial and self-disinfecting switches and sockets under its Livia product range, as a part and parcel of the “Aatmanirbhar Bharat” mission announced by the Indian government amidst the pandemic crisis.
- Texas Instruments, a prominent switch manufacturer, offers a range of analog switches and multiplexes, which help maintain signal integrity across a system while reducing design complexity.
For In-depth Competitive Analysis, Buy Now:
https://www.factmr.com/checkout/5220
Key Questions in Temperature and Pressure Switches Market Research Report:
- What are the current scenarios and key trends in the Temperature and Pressure Switches Industry?
- What key strategies are companies adopting to grow their consumer base?
- What are the key categories and future potential of Temperature and Pressure Switches?
- What are the key Temperature and Pressure Switches market drivers and what are their projected impacts in the short, medium and long term?
- What is the size of the Temperature and Pressure Switches market and what are the opportunities for the key players?
Check Out More Related Studies Published by Fact.MR Research:
Transfer Switches Market: Global transfer switch sales are valued at around US$ 1.6 billion in 2023. The global transfer switches market is predicted to increase rapidly at 7% CAGR and top a valuation of US$ 3.1 billion by the end of 2033.
Load Break Switches Market: The global load break switches market is valued at US$ 2.4 billion in 2023 and is projected to reach US$ 4.1 billion by 2033, expanding at a CAGR of 5.5% over the next ten years.
Float Switch Sensor Market: The global float switch sensor market is set to reach US$ 4.56 billion in 2022 and further expand at a high CAGR of 7.3% to end up with a market valuation of US$ 9.22 billion by 2032.
Zero Speed Switch Market: According to the latest research report by Fact.MR, zero speed switch market is anticipated to witness a CAGR of over 5% during the forecast period (2022-2032).
Static Transfer Switches Market: Increasing demand for electricity globally is facilitating numerous growth opportunities for static transfer switches market in recent past. With the growth of generator backed power supply and power utilities, the demand for static transfer switches is also expected to increase during forecast period.
About Us:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Connect to Author: Mr. Shubham Patidar
Email : shubham@factmr.com
Sales Team : sales@factmr.com
Follow Us: LinkedIn | Twitter | YouTube
