With every small entity becoming automated, electronic pressure switches are gaining worldwide popularity and soon replacing mechanical pressure switches. Although, electronic pressure switches are priced high, rising disposable income in the developing countries is making it easier for consumers to afford electronic pressure switches. The increase in the demand for electronic pressure switches is attributed to abundant advantages provided by electronic pressure switches.
Market Overview:
Electronic pressure switches find a lot of application in industries for the purpose controlling systems that use pressurized fluids or for supervising the fall and rise in pressure levels. Electronic pressure switches comprise of an internal circuit that compares the pressure measured, to a set point and a pressure transducer. Various types of pressure transducers used in electronic pressure switches are capacitive elements or strain gauges. Electronic pressure switches are increasingly replacing mechanical pressure switches. Reasons behind the adoption of electronic pressure switches are improved precision, accuracy, and repeatability, simpler operation, higher number of switching cycles and long term stability.
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Market Dynamics:
Owing to the numerous advantages provided by the electronic pressure switches as compared to the mechanical pressure switches, consumers are soon shifting to electronic pressure switches. Some of the advantages of electronic pressure switches over mechanical pressure switches include mounting configurations that are flexible, instinctive and fast setup and displays that are robust and easily readable. Electronic pressure switches are used in various applications to provide continuous data output regarding the pressure details. As a result of uncontrollable pressure in workplaces, numerous accidents have happened related to blowouts. Hence, governments of various countries have formed strict regulations regarding workplace safety that the companies have to comply with. Industries need to install equipment such as electronic pressure devices that control and monitor pressure levels in work areas. Before starting operations of machinery in plants, manufacturers need to get certifications from regulatory bodies on safety standards. These safety standards vary with countries and regulatory bodies. Some of the regulatory bodies include International Organization for Standardization (ISO), Occupational safety and health administration (OSHA), International Electro-Technical Commission (IETC), Canadian Standards Association (CSA) and China Compulsory Certification (CCC). These factors are estimated to be responsible for the growth of Electronic Pressure Switches market in the forecast period.
One of the major restraints associated with the electronic pressure switches is the cost factor. Mechanical pressure switches may not provide numerous advantages that are provided by the electronic pressure switches but they are cheaper than the electronic pressure switches. This factor is likely to hinder the growth of the electronic pressure switches market.
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The newest trend in the Electronic Pressure Switches market is the incorporation of pressure control devices within a single electronic pressure switch.
Market Segmentation:
Electronic Pressure Switches market is segmented on the basis of product type, end-user type, and region.
Based on the product type, Electronic Pressure Switches market is segmented into Double output electronic pressure switches and Single output electronic pressure switches.
Based on the end-user type, Electronic Pressure Switches market is segmented into machine tool industry, pumps and compressors, oil and gas industry, hydraulics and pneumatics, chemical and petrochemical industry, and power generation industry.
On the basis of region type, Electronic Pressure Switches market is segmented into – Latin America, North America, Asia Pacific Except Japan (APEJ), Western Europe, Eastern Europe, Middle East and Africa (MEA) and Japan.
As the amount of disposable income is increasing in developing countries, so is the purchasing power of the people living in these countries. People living in the countries such as India and China are shifting towards automated equipment as they can buy them. Hence, Electronic Pressure Switches market in the Asia Pacific except Japan (APEJ) region is expected to show significant growth trends in the forecast period. Increase in industrial activities in South Africa and UAE regions in sectors such as oil and gas, power generation, and petrochemical industries is expected to boost the demand in the Electronic Pressure Switches market in Middle-East and Africa (MEA) region. Apart from APEJ and MEA regions, Latin America is also showing progressive growth in the Electronic Pressure Switches market. Rise in the demand for automated equipment is having a positive impact on the sales of electronic pressure switches in this region. North America and Europe regions are estimated to show slow growth in the Electronic Pressure Switches market. The reason attributed for the slow growth is the intense competition from the manufacturers in the APAC region to the local vendors in the Europe and North America regions.
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Key Players:
Manufacturers of electronic pressure switches are investing a lot of money in research and development for various high-end applications such that they can come up with technologically advanced electronic pressure switches to fulfill the demands of the consumers.
Some of the players operating in the Electronic Pressure Switches market are:- Wako Electronics, Bosch Rexroth, United Electric Controls, Danfoss, Taihei Boeki, Honeywell, SUCO Robert Scheuffele, Parker Hannifin, SMC Corporation, Setra Systems, BD|SENSORS, OMEGA Engineering, Barksdale Control Products, LEEG Instruments, Baumer Group, Huba Control, BCM Sensor, and Fujikura.
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