Global shipments of pressure switches are forecast to increase at a compound annual growth rate (CAGR) of 3 percent from $965.6 million in 2006 to $1.121.8 million in 2011, according to Venture Development Corporation (VDC).
Major geographic regions segment the global market for pressure switches:
- Americas (Central, North and South America)
- Asia-Pacific
- EMEA (Europe, the Middle East and Africa)
The Americas is the largest of the three pressure switch markets, followed by EMEA, with Asia-Pacific being the smallest market, however with the fastest growth rate. The Americas are forecasted to have a 2.6 percent growth along with EMEA. Asia-Pacific has a projected 4.9 percent growth rate, highest among the three regions. These growth rates mirror the overall macroeconomic trends for the selected regions.
Pressure switch markets in China and some other Asia-Pacific countries are beginning to attract vendors globally. Manufacturers are beginning to consider relocation of production facilities or expanding production operations by existing and new local firms.
Pressure switch markets are more mature in the United States, Japan and Western Europe then in the Asia-Pacific market. Domestic firms, or locally headquartered firms lead them. Long standing customer relations of established suppliers and their customers is important to breaking into such markets.
Listed below are some of the key competitors in the three geographic regions. These vendors and their specific market niches are profiled more extensively in VDC’s full report.
Asia-Pacific – Two Chinese start-ups, LEFOO and Goldtech, are focusing on low-technology applications. Major incumbent suppliers include several Japanese companies including SMC Corporation, Nagano Keiki, and Saginomyia, as well as South Korea-based Useong Electro Mechanic. Top foreign suppliers to this region include several European firms, such as Danfoss, and U.S.-based companies, most notably Sensata Technologies.
Americas – Most of the major suppliers to markets in this region are U.S. firms, including Sensate Technologies and Honeywell. Overall, the only foreign company in the top ten is France-based Schneider Electric.
EMEA – With the exception of U.S.-based ITT Aerospace Controls/NEO-Dyne, all of the top ten suppliers overall to this regional market in 2006 were Europe-based firms. At the top were Danfoss, Bitron Industrie, Suco Robert Scheuffele, and Schneider Electric.
For further information about Pressure Switches: Global Market Demand Analysis, click here
SOURCE Venture Development Corporation
Nicole Camiola
New Equipment Digest
Online Content Editor