Pressure Switch Market size is expected to witness exponential growth over 2021-2027. This is a result of the escalating usage of pressure switches in water pumping systems, compressed air systems, and other applications to efficiently cut in power into their motors in case of low line or low level pressure. In addition, myriad benefits of using pressure switch connectors in battery-operated pumps, such as high system longevity, convenience, and prolonged battery life, will also amplify the market growth in the upcoming years.
A pressure switch refers to an electronic or mechanical device that is activated by the process fluid’s pressure upon reaching a certain setpoint or threshold. The switch consists of a bourdon tube, diaphragm, piston, or membrane that deforms or moves in accordance with the pressure level exerted by the system. It is widely used in industries employing systems like HVAC, compressed gas systems, and instrumentation systems.
Increasing sales of automobiles, following a significant decline in the initial months of the coronavirus pandemic, is a key trend bolstering overall pressure switch market expansion. Likewise, the escalating pressure switch applications in the railway sector and the subsequent introduction of innovative products are projected to further boost the industry share over the estimated timeline. In 2021, Trafag announced the 9R5 Picostat, its new mechanical pressure switch for railway applications, designed to meet the high requirements for rail vehicle applications and comply with EN 50155 and other relevant railway standards.
HVAC is set to become a significant application segment for the global pressure switch market by 2027. This growth is driven by the mounting global demand for commercial HVAC systems to meet the increased air quality and ventilation requirements, especially during the pandemic. Moreover, the strong focus on reopening schools for in-person learning in the United States is anticipated to further escalate the deployment of these systems for improved ventilation.
North America will emerge as a major revenue pocket for the pressure switch market by 2027, owing to the rising implementation of railway infrastructure modernization projects across the region. For instance, the Federal Railroad Administration has issued several federal grants for the modernization or life extension of many existing infrastructures on the Amtrak-owned Northeast Corridor line. However, a sharp drop in automotive vehicles demand, the slowdown in labor productivity, and the subsequent decline in manufacturing activities in the U.S. may impede the regional market outlook in the coming years.
Major players functioning in the global pressure switch market include Taihei Boeki, SUCO Robert Scheuffele, Parker-Hannifin Corporation, United Electric Controls, Danfoss, Wako Electronics, Honeywell Sensing, SMC Corporation, and Bosch Rexroth, among others. Strategic product launches and business expansions are the key initiatives being undertaken by these market participants to strengthen their presence across the global market. For example, in October 2020, SUCO unveiled its ATEX pressure switches, which are based on the reputed 0340/0341 product series. These pressure switches were designed for use in potentially explosive zones, including chemical, oil and gas, and pharmaceutical industries.
In the wake of the coronavirus pandemic, a historic collapse in oil demand has been witnessed, mainly due to the general decline in economic activity and transportation hurdles. During October 2020, crude oil production was recorded at 2.568 million tons in India, nearly 6.24% lower as compared to the same period a year earlier. Fluctuations such as these in oil production amid the crisis may result in the reduced adoption of industrial pressure switches, given their extensive usage as safety devices in the oil and gas industry.
However, a steady recovery of the manufacturing sector to the pre-COVID-19 levels may assert a positive influence on the pressure switch industry. According to the 2021 UNIDO World Manufacturing Report, the production from this sector surged by 2.4% in the fourth quarter of 2020 as compared to the same period of 2019. In addition, the introduction of strategies for the gradual restart of travel and transportation could lead to the heightened usage of pressure switches for industrial purposes over the foreseeable future.