Micro Switch Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
- Transparency Market Research
Micro switches, alternatively known as miniature snap-action switches are electrical switches that are triggered by very small intensity of physical force, either by human or by physical object at the actuator. The working principal of micro switches is primarily based on tapping point mechanism. A small movement in the actuator buttons of micro switches produces a larger movement at the electric contact. These switches are primarily employed as safety devices owing to its reliability and inexpensive nature and are extensively used across various devices in order to open or close the electric circuit at a rapid speed.
In order to provide in depth analysis of the global micro switches market, the market can be segmented on the basis of type, application and geography. Based on type, the market of micro switch can be bifurcated into general purpose micro switches, single pole standard precision micro switches, subminiature micro switches, reset switches, door interlock switches and others. Subminiature sealed snap-acting switches, subminiature snap-acting switches and SPDT basic micro switches are included within the others segment. On the other hand, micro switches finds it application across various automotive, consumer devices, door interlocks and industrial equipment among others. Again, by geography, the market of micro switches can be classified into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Increasing demand for devices that are lighter and smaller in size and having greater efficiency is the primary factor predicted to boost the demand of micro switches at an exponential rate during the forecast period from 2016 to 2024. Thus, the OEMS (Original Equipment Manufacturers) are inclining toward miniaturization of switches in order to meet the ever-changing demand of customers for their increased functionality of devices at marginally increased or same price. Moreover, rapidly growing urbanization coupled with increasing number of elderly population across the globe is anticipated to trigger the installation and modernization of elevators and security system across various industrial and residential sectors. This in turn is also predicted to accelerate the demand of micros switches in the coming years. In addition, rising demand for micro grid system from different industrial, military, residential and commercial vertical is also predicted to augment the demand of different categories of micro switched during the forecast period.
However, design complexity coupled with lack of proper training in term of usage is one of the major factor predicted to deter the demand of micro switches and in turn anticipated to affect the market negatively. In addition, false triggering of consumer devices is another important factor predicted to limit the usage of micro switches in the coming years.
By product type, micro switches market is majorly driven by the consumer device segment during the forecast period from 2016 to 2024. Rising disposable income coupled with increasing consumer’s spending on portable, sophisticated and technologically advanced consumer electronic devices in the primary factor anticipated to increase the demand of micro switches across the globe. In addition, rapid advancement and development of portable medical devices in turn is also predicted to accelerate the demand of micro switches at an exponential rate in the coming years.
Geographically, North America held the largest market share in the micro switch market in terms of revenue in 2015. However, Asia Pacific region is predicted to witness the fastest growing market during the forecast period from 2016 to 2024. Rapid expansion of production facility in this region owing to huge capital investment by different manufacturers in this emerging technology coupled with increasing use of micro switches across various application segments is the primary factor responsible from the growing demand of micro switches in Asia Pacific region.
Some of the major players operating in the micro switches market are Altech Corporation (U.S), C & K Components (U.K), E-Switch (U.S.A) and Panasonic Electronic (Japan) among others.
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