USD 4.15 Billion
Electromechanical Switch Market Size, Share, Growth Analysis, By Product(Tactile, Rotary, Encoder, Toggle), By End User(Military, Aerospace, Commercial, Industrial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45J2147 |
Region:
Global |
Published Date: April, 2024
Pages:
265
|Tables:
74
|Figures:
74
Electromechanical Switch Market Insights
Electromechanical Switch Market size was valued at USD 4.15 Billion in 2019 and is poised to grow from USD 4.28 Billion in 2023 to USD 5.51 Billion by 2031, at a CAGR of 3.20% during the forecast period (2024-2031).
Electromechanical switches possess both electrical and mechanical properties. They react to current, high voltage, reverse power flow, and frequency. These are quick-acting switches that can be reset quickly and can also simplify the machine setup. The market's growth is attributed to its wide range of applications such as military, aerospace, automotive, and white goods among many others. Increasing automation in industries such as automotive, aerospace, and healthcare further catalyzes market growth. Low cost and simple design are some other growth-supporting factors of the electromechanical switch market.
US Electromechanical Switch Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Rotary
Fastest Growth
Tactile
Growth Rate
3.20% CAGR
Global Electromechanical Switch Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
To get more reports on the above market click here to Buy The Report
Electromechanical Switch Market Segmental Analysis
The Global Electromechanical Switch Market is segmented based on the Product, End User, and region. Based on the Product, the Global Electromechanical Switch Market is segmented as Tactile, Rotary, Encoder, Toggle, Push, Detect, Micro, Dip, and Others. Based On End User, the Global Electromechanical Switch Market is segmented as Military, Aerospace, Commercial, Industrial, Healthcare, Automotive, White Goods, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Electromechanical Switch Market Analysis by Product
Based on the Product, Rotary electromechanical switches accounted for a maximum market share followed by tactile and other electromechanical switch segments. Tactile Switches are made up of five separate parts: a cover, a rubber push plate, film, a movable and stationary contact, and a mounting base. When the metal dome collapses, all Tactile Switches function as momentary Push ON Switches, allowing a small current to pass through. Detector switches detect internal mechanical movements or manual human operations and convert them to electronic signals. As a low-cost alternative to Encoders, Detector Switches have been used in some applications. To ensure consistent signal output, detector switches employ a mechanical sliding spring design. They may also have long travel, a thin profile, a compact size, a lightweight design, highly flexible actuation angles, and surface mount or J-bent terminal mounting options. In general, smart home devices require small and thin switches, preferably with long strokes and bidirectional operation.
Electromechanical Switch Market Analysis by End User
The global electromechanical switch market has been segmented on the basis of application as military, aerospace, commercial, industrial, healthcare, automotive, white goods, and others. The other segment of the market includes basic gadgets, gaming devices, and others. Among these, the white goods segment of the market dominated the market with more than 20% share in 2021. Further, the white goods segment of the market is followed by the industrial, automotive, and healthcare segments. The use of Electromechanical switches in satellite and military communications, radar, commercial and military aviation, test and instrumentation, and medical equipment are going to drive the Electromechanical switch market in the forecasted year.
Global Electromechanical Switch Market By Product , 2021(%)
To get detailed analysis on other segments, Request For Free Sample Report
Electromechanical Switch Market Regional Insights
North America held the largest share of the electromechanical switch market. The North American market growth is driven by the electronic industry in the region. The region is projected to be one of the dominant regions in the market attributed to the government's initiation into the development of the smart industrial sector. The current trend in the demand for such automobile sector is going to be the biggest market driver in the forecast year. The European Electromechanical Switch market is projected to grow at a CAGR of more than 2% during the forecast period. During the forecast period, Asia Pacific is expected to be the largest market. The growing popularity of luxury vehicles, particularly in China, is driving this trend. Furthermore, the increasing penetration of advanced systems such as automatic transmission, an infotainment display, and front and rear air conditioning in vehicles produced is propelling the Asia Pacific Electromechanical switches market.
Global Electromechanical Switch Market By Geography, 2021 - 2028
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Electromechanical Switch Market Dynamics
Electromechanical Switch Market Driver
- Increased automation in many sectors has resulted in regulating machine motions via switches, which is the primary market driver for the worldwide electromechanical switch market. For instance, tactile switches increase manufacturing efficiency, reduce personnel costs, and improve operational precision. Over the projected period, all of these reasons will drive the worldwide tactile switches market.
- Encoder electromechanical switches are gaining demand on the advent of feature-rich automobiles, particularly those equipped with Bluetooth and cellular technologies, has resulted in extraordinary sales of encoders in recent years. A broad collection of encoders is also used in vehicle positioning and location-based prompts, which is projected to maintain this market in the lead during the forecasted period.
- The convenience of installation processes and the availability of newer types of push buttons that allow one-handed installation without the use of special equipment are two factors promoting the popularity of push switches in industrial operational operations. Furthermore, most push switches on the market today support drag-and-drop, making installation considerably simpler and easier. These factors will drive market expansion while also contributing to the CAGR of the respective sector during the anticipated period.
Electromechanical Switch Market Restraint
- Micro switches are an essential component of the component. Instead of worrying about whether a certain micro switch can withstand the test of time, it is best to constantly evaluate the substance with which it was built. Some can create electric shock concerns because their materials deteriorate over time.
Request Free Customization of this report to help us to meet your business objectives.
Electromechanical Switch Market Competitive Landscape
The Global Electromechanical Switch market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Electromechanical Switch Market Top Player's Company Profiles
- Eaton Corporation (US)
- Honeywell International Inc. (US)
- ABB Ltd (Switzerland)
- Schneider Electric SE (France)
- Siemens AG (Germany)
- Omron Corporation (Japan)
- Panasonic Corporation (Japan)
- TE Connectivity Ltd (Switzerland)
- C&K Components (US)
- Carling Technologies, Inc. (US)
- E-Switch, Inc. (US)
- Grayhill, Inc. (US)
- IDEC Corporation (Japan)
- NKK Switches Co., Ltd. (Japan)
- Cherry GmbH (Germany)
- Alps Alpine Co., Ltd. (Japan)
- ITW Switches (US)
- Marquardt GmbH (Germany)
- Electroswitch (US) Bulgin (UK)
Electromechanical Switch Market Recent Developments
- In May 2022, Menlo Microsystems unveiled its Ideal Switch recently and it also raised $150 million. It is power its functions with less than a milliwatt and switch at speeds in the billions of operations a second.
- In May 2022, the new KSC Extra Durable (KSC TE) switch from C&K, a maker of high-reliability electromechanical switches, is a revolution in C&K's tact switch range. The new member simplifies the design process by having a long life in relation to its size and force range.
Electromechanical Switch Key Market Trends
- Designers of smart home devices typically prefer small profile Tactile Switches with IP67 water- and dust-proof ratings. Other important features to look for when choosing the right Tactile Switch for the job include high operating force and deep stroke types.
- Smart Home systems and devices, that are part of the Internet of Things (IoT), regularly work together, sharing usage data and automating actions based on the preferences of the homeowners. People can improve their efficiency with the help of home automation. Instead of leaving the air conditioning on all day, a Smart Home system can learn behavioral patterns and ensure that a house is properly cooled by a certain time.
- Many new SMART devices, such as robot cleaning systems, security cameras, thermostats, light bulbs, TVs, locks, healthcare monitors, motion sensors, plugs, and voice assistance devices, are being developed. With the current IoT trend, these Smart Home-related products are encouraged to add more functions. As a result, the demand for the Electromechanical Switch design is growing in this market.
Electromechanical Switch Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Electromechanical Switch Market Analysis, in terms of application, the white goods segment held the largest share of more than 18.0% in 2020 and is estimated to maintain a similar trend over the forecast period. In terms of type, Rotary electromechanical switches accounted for a maximum market share followed by tactile and other electromechanical switch segments. with growing demand for electromechanical switches across various applications, primarily, white goods and industrial sectors, the market is likely to witness upswings. Furthermore, increased trends of automation across almost every sector will create a wide scope for the growth of the market. However, the integration of IoT and voice-based systems will challenge the market growth during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.15 Billion |
| Market size value in 2031 | USD 5.51 Billion |
| Growth Rate | 3.20% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Electromechanical Switch Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Electromechanical Switch Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Electromechanical Switch Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electromechanical Switch Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electromechanical Switch Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electromechanical Switch Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
