Switches Market Size and Share with Forecast by 2024

Switches Market 2019-2024

Whenever a switching mechanism relies on a mechanical action to change the direction or orientation of path continuity within its terminal base, it is referred to as an electromechanical switch. These switches can often be hampered by a short cycle life due to the inherent wear and tear associated with the mechanical operation, but there are many switches that still can maintain a significant amount of cycles before signal and mechanical degradation.

Switches industry is relatively concentrated, manufacturers are mostly in Japan, the EU, the United States, and China. Among them, Japan output value accounted for more than 31.33% of the total output value of global switches in 2016. ITT Industries is the world leading manufacturer in the global switches market with a market share of 12.79%, in terms of revenue.

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The global switches market is expected to reach $4769.10 million by 2022 from $4568.21 million in 2017, growing at a CAGR of 0.86% from 2017 to 2021. And China market is expected to be the biggest market with the output market share of 28.12% in 2022.

With the increase in production capacity, expected that the switches raw material price will be stable in the short term. However, the improvement of energy, transportation costs, and labor costs, will play a significant role in promoting the cost of switches.

There are companies aims at the cost and quality leadership which shall improve profitability. As the same time, companies are focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and improve quality.

The average price of switches will fall further. The product average price declined in the past few years due to the technology development, the average price will keep this trend in the few future years due to increasing mature manufacturing technology, cost of raw materials, as well as the substitute threat.

According to this study, over the next five years, the Switches market will register a 0.9% CAGR in terms of revenue, the global market size will reach US$ 4810 million by 2024, from US$ 4570 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in Switches business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Switches market by product type, application, key manufacturers and key regions and countries.

This study considers the Switches value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.

Tactile
Slide
Rotary
Encoder
Toggle
Push
Detect
Micro
Power

Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.

Military
Aerospace
Commercial
Industrial
Healthcare
Automotive
White Goods

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.

America
APAC
Europe
Middle East & Africa

The key manufacturers covered in this report: Breakdown data in Chapter 3.

ITT Industries
NKK Switches
TE Connectivity
ALPS
Omron
APEM
E-Switch
Electroswitch
CTS
Carling Technologies
Honeywell
TOPLY
Channel Electronic
Bulgin
Panasonic
Grayhill
ITW Switches
OTTO
Arcolectric
Bourns
Copal Electronics
Eaton
Schurter
Schneider
Phoenix Contact
ELMA
EAO
NOVA
Lorlin
LEVITON

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In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives

To study and analyze the global Switches consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Switches market by identifying its various sub-segments.
Focuses on the key global Switches manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in the next few years.
To analyze the Switches with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks.
To project the consumption of Switches submarkets, with respect to key regions along with their respective key countries.
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.

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