Temperature and Pressure Switches Market (By Product Type: Temperature Switches, Pressure Switches; By Product Range: Temperature Range in °C and Pressure Switch Range; By Price Range: Less than US$ 50, US$ 50 - US$ 100, US$ 100 - US$ 200, and More than US$ 200; By Application: Residential and Commercial; and Distribution Channel: Online and Offline) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030

The temperature and pressure switches market size is estimated to reach at US$ 3.7 billion by 2030, expanding at a CAGR of 4.1% over the forecast period 2021 to 2030.

Temperature & pressure switches are an important part of controlling and monitoring equipment. Temperature & pressure switches help in carrying out smooth operations and can be used with flammable material, and in explosive atmospheres or hazardous locations, which increases its application in various end-use industries.

Demand for temperature & pressure switches is expected to rise in the near future due to the growing number of end-use industries. Global demand for transport is growing, as the world is becoming more urbanized. The development of rail travel, which is economical and a convenient mode of transport is creating the need for various temperature & pressure switches in transportation and manufacturing industries.

The temperature and pressure switches market growth can be primarily attributed to factors such as increasing investments toward research and development, increasing adoption from various end-use sectors, stringent regulatory policies, and growing focus on improving the quality and functional properties of temperature & pressure switches. Advancements in the sensor technology is another factor likely to influence the overall growth of the global temperature & pressure switches market during the assessment period.

Market Trends

Consumers are demanding technologically advanced products with increased monitoring capabilities. Demand for durable, reliable, explosion-proof, small deadband range, hermetically sealed, and long lasting temperature & pressure switches is increasing.

Demand for temperature & pressure switches is also increasing due to growing investment in end-use industries. Manufacturers with an extensive range of products and with customization & service capabilities are popular in the market.

Business strategies of temperature & pressure switches companies revolve around promoting new and innovative products. Furthermore, manufacturing of temperature & pressure switches with premium technologies such as patented isolation system by CCS, enhanced surge protection by Eaton, and remote data monitoring capability introduced by WIKA has created a buzz in the market.

Drivers, Opportunities, and Restraints

The growing population and income has led to increased demand for white goods. White goods manufacturers are using new lubricants with low global warming potential, which become flammable in certain conditions. Hence, switches are used in white goods, which also help in saving cost by eliminating the need for extra protective shielding.

Changing geo-political conditions and rise in security threats have led to rising investment in military & defense and aerospace industries. Investments by various governments in strengthening transportation, military, aerospace, industrial, and other sectors are likely to lead to higher demand for pressure & temperature switches during the forecast period.

Bimetallic strip switches have a drawback in terms of accuracy due to changes caused by ambient temperature and are susceptible to shocks and vibrations. Similarly, the response time of liquid filled switch is a bit slow, which acts as a restraint to the global market.

Various countries are expanding their production capabilities, which creates lucrative business opportunities for manufacturers of temperature & pressure switches. Companies are heavily investing in R&D to cater to the needs of a wide range of consumers.

COVID-19 Impact

The COVID-19 pandemic is anticipated to have a short-term impact on the overall growth of the global temperature & pressure switches market. While the market growth was normal during the first quarter of 2020, the second quarter growth was considerably slower than usual due to the outbreak of the novel COVID-19 pandemic. The closure of the industrial sector in various regions, stringent lockdown measures imposed by government authorities, and restrictions on cross-border trade and transportation have played a key role in disrupting the supply chain across the global temperature & pressure switches market.

However, as industries gradually open up and begin to operate under normal conditions, the production of temperature & pressure switches is expected to gain momentum in the third and fourth quarter of 2020. While the demand from the automotive sector is projected to remain modest amid the pandemic, the demand from marine, oil & gas, and food & beverages sector, among others, is likely to ascend in the upcoming months.

High Adoption in Heating Systems to Drive Global Market

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.

Several players have entered the competitive market for pressure switches over the past couple of decades, especially in the Asia Pacific region. Market players are increasingly investing resources in research and development and expanding their product range in-sync with the evolving industrial requirements. Some of the most extensively used pressure switches around the world include digital pressure switches and hydraulic pressure switches. Pressure switches are increasingly being used for multiple applications, especially in various sectors, including marine, food & beverages, automotive, aerospace & defense, and oil & gas. Market players are anticipated to comply with the laid down regulatory standards and manufacture temperature & pressure switches and gain approval for the same from the dedicated regulatory body. Pressure switches are increasingly being used in ventilation duct monitoring, fire protection damper control, fume exhaust systems, and more.

Report Highlights

In terms of product type, pressure switches account for majority share in the global temperature & pressure switches market. Pressure & temperature switches find applications in many industries. Depending on the application, consumers decide the operating range and type of switches. The next decade is expected to be significant due to the rise in population, upgrade of infrastructure, developments in the construction sector, and investment in telecommunication. All these factors are likely to drive the global temperature & pressure switch market during the forecast period.

In terms of application, the commercial segment accounts for a maximum share of the global temperature & pressure switches market. HVAC, aerospace & defence, oil & gas, and railways are the major application segments. The rise in construction industry and changing geopolitical conditions will lead to the growth of the military & defence sector; urbanization is set to lead to development of the transportation industry; and changing lifestyle and disposable income will lead to the growth of other industries. All these factors are anticipated to drive the temperature & pressure switches market during the forecast period.

Based on product range, the global temperature & pressure switches market has been classified into temperature switch range in °C (below 50, 50 – 70, 70 – 120, 120 – 150, 150 – 250, 250 – 500, and more than 500) and pressure switch range (less than 10 bar, 10 bar - 50 bar, and more than 50 bar).

Based on price range, the global temperature & pressure switches market has been classified into less than US$ 50, US$ 50 - US$ 100, US$ 100 - US$ 200, and more than US$ 200.

In terms of distribution channel, the global temperature & pressure switches market has been segmented into online and offline. Online segment is divided into e-Commerce websites and company-owned portal, while the offline segment is divided into hypermarkets & supermarkets, direct sales, specialty stores, and others.

Based on region, the Asia Pacific holds a major share of the global temperature & pressure switches market followed by Europe and North America. Key players largely depend on geographical expansions, promotions, and technological advancements to cater to customer demand and gain a competitive edge in the global temperature & pressure switches market.

Asia Pacific accounted for 38% share of the global temperature & pressure switches market in 2020, followed by Europe and North America. It is anticipated to maintain its dominance in the market during the forecast period, due to the growth of the commercial segment.

Competitive Landscape

This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.

The analysts have provided a comprehensive analysis of the competitive landscape of the global temperature and pressure switches market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Key players operating in the global temperature & pressure switches market include ABB Ltd., Danfoss, United Electric Controls, Honeywell International Inc. - Sensing and Internet of Things, Parker Hannifin Corporation, Beck GmbH Druckkontrolltechnik, WIKA Group, Schneider Electric SE, The Baumer Group, Texas Instruments, Trafag AG, Georgin, Kulite Semiconductor Products, Inc., Eaton Corporation PLC., and Custom Control Sensors, LLC.

Market Segmentation

By Product Type

• Temperature Switches
• Liquid Filled Temperature Switches
• Bimetallic Strip Temperature Switches
• Pressure Switches
• Electromechanical Pressure Switch
• Solid State Pressure Switch

By Product Range

• Temperature Switch Range in °C
  • Below 50
  • 50 – 70
  • 70 – 120
  • 120 – 150
  • 150 – 250
  • 250 – 500
• More than 500
  • Pressure Switch Range
  • Less than 10 Bar
  • 10 Bar – 50 Bar
  • More than 50 Bar

By Price Range

• Less than US$ 50
• US$ 50 - US$ 100
• US$ 100 - US$ 200
• More than US$ 200

By Application

• Residential
• Commercial & Industrial
• HVAC Industry
• Food & Beverages Industry
• Marine Industry
• Automotive Industry
• Industrial Manufacturing
• Railways
• Aerospace Industry
• Military & Defense
• Others (Pharmaceutical & Healthcare, Rubber & Plastic Industry, etc.)

By Distribution Channel

• Online
  • e-Commerce Websites
  • Company-owned Portal
• Offline
  • Hypermarkets & Supermarkets
  • Direct Sales
  • Specialty Stores
  • Others

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • U.K.
  • Germany
  • France
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of MEA
• South America
  • Brazil
  • Rest of South America

This report focuses on temperature and pressure switches market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall temperature and pressure switches market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global temperature and pressure switches market.

The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.

In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).

The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Regional Analysis

The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.

The report provides in-depth segment analysis of the global temperature and pressure switches market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the temperature and pressure switches market.

The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.

In this study, the years considered to estimate the market size of temperature and pressure switches are as follows:

• History Year: 2017-2020
• Base Year: 2021
• Forecast Year 2021 to 2030

Research Methodology

The research methodology adopted by analysts for compiling the global temperature and pressure switches market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global temperature and pressure switches market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2021) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.