Electric Switch Market Analysis

Electric Switch Market Analysis

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.
 

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.