Electric Switch Market - By Type (Push Button Switches, Toggle Switches, Push Wheel Switches, Keylock Switches, Rocker Switches, Snap Action Switches, Tactile Switches, Pressure Switches, PCB Switches) & Forecast, 2022-2030

Industry Trends

Electric Switch Market size exceeded USD 13 billion in 2021 and is projected to expand at a CAGR of around 6% from 2022 to 2030. Technological advancements in tactile switch operations have revolutionized automotive electronics applications. Companies are strongly focusing on R&D and innovations to increase uptime, save on maintenance & energy, and reduce the sound while pressing the switches.
 

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The rising adoption of industrial automation technologies, such as IoT, AI, and robotics, will provide significant market opportunities for the electric switch market. The Industrial Internet of Things (IIoT) helps industries to change the traditional ways of product manufacturing and delivery process, making them cost-effective, efficient, reliable, and safe for human operators. Several OEMs are incorporating application-specific industrial robots to boost the automated production process, further supporting the market expansion.
 

The automobile sector is poised to register robust growth during the forecast period. Growing technological developments to provide an enhanced driving experience is providing considerable market growth for electric switches in vehicles. The proliferation of connected vehicles and governments partnering to build an infrastructure for connected vehicles & technologies, such as Vehicle to Vehicle (V2V) and Vehicle to Infrastructure (V2I), are propelling the growth of electric switches in automotive electronic devices.
 

The increased power supply may impair the performance of electric switches that must consistently perform various tasks. Due to their regular use, the performance of electric switches can deteriorate over time, causing the entire apparatus to stop working. The electric switch market is restrained by maintenance and repair issues in electromechanical switches, which can fail in various ways, including flaring and dirt, affecting their functionality. The switching operation may become less effective over time and usage. Sparking can occur when contacts are formed and broken, causing the contact to deteriorate. Over time, the contacts may become pitted and filthy, resulting in significant performance degradation, and hindering industry size.
 

The COVID-19 pandemic has fueled the adoption of robotics & automation to ensure reduced dependency on workers in the industrial sector. This will help companies to maintain the continuity of plant processes. Growing investments in automation technology, smart factories, robotics, and the Industrial Internet of Things (IIoT) in the manufacturing & production sectors will bring new growth opportunities for the market in the post-COVID-19 scenario.
 

Increasing demand for push button switches in the automotive sector

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The push button switches segment held a market share of over 15% in 2021. These switches are extensively used in the automotive sector to turn the engine on/off and they also find application in automotive horns. On average, automobiles including cars and trucks contain 150 electronic control units that are controlled by these switches. With increasing development in the automotive sector, the market for electric switches is expected to rise during the forecast timeframe.
 

Increasing government initiatives & policies supporting the manufacturing sector development in Asian economies

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The Asia Pacific electric switch market was valued at USD 5 billion in 2021, with over 300 million units of electric switches sold. Manufacturing facilities are highly focused on IoT, industrial automation, and the use of industrial robots to increase their production capabilities. The industry leaders are focused on opening new & automated manufacturing facilities that require electric switches to be incorporated into industrial robots, security systems, control panels, power supplies, and other applications.
 

China is witnessing an increased adoption of smart factories, which will add new opportunities in the electric switch market. These smart factories will incorporate industrial robots, automated technologies, and industrial IoT devices. For instance, in January 2022, the Chinese government relaunched the “Made in China” plan to achieve digitalization by 2025. According to the government's plan, over 70% of large-scale Chinese firms will be digitalized and new manufacturing facilities with automated manufacturing technologies will be created across the country.
 

Increased focus of industry players on launching new product offerings

Key participants active in the electric switch market include Alps Alpine Co, Ltd., Amphenol NEXUS Technologies, APEM Group, C&K, CW Industries, EAO AG, E-Switch, GRAYHILL, Inc., Honeywell International, Inc., Machine Components Corporation, NKK Switches, Select Switches, SHALLCO, Inc., TE Connectivity, TORQ Corporation and Yaskawa America, Inc. These leaders are focusing on inorganic growth strategies to address the high demand and launch improved product offerings for improving their product portfolios & market shares.
 

The electric switch market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2018 to 2030 for the following segments:

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Market, By Type

• Push button switches
• Toggle switches
• Push wheel switches
• Keylock switches
• Rocker switches
• Snap action switches
• Tactile switches
• Pressure switches
• PCB switches
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • GCC
  • South Africa