Microswitches, commonly known as miniature snap-action switches or subminiature micro switches, are electrical switches that use the tipping point mechanism to provide easy actuation by the very small intensity of force. Owing to the inexpensive nature and high reliability, these switches are now exceedingly used for various applications in end-use industries such as automotive, electrical, medical, and electronic. There is an increasing demand from OEMs (Original Equipment Manufacturers) as these switches are robust in construction, have durability greater than 1 million cycles and up to 10 million cycles, and operated by sensing mechanism such as bourdon tube, despite being small and relatively cheap to manufacture. The aforementioned defining features are considered to be the prime impetus for the unprecedented endorsement of micro switches among industrial manufacturers. As these switches facilitate clean and reliable interruption to the switched circuit, they are used in control of electrical circuits, door-locking mechanism of microwave ovens, the leveling and safety mechanisms of elevators, and detecting jammed paper in photocopying machines.
Moreover, the higher serviceability of micro switches made them popular for use in home security systems, where the movement of a door or window triggers the switching mechanism and causes the alarm to sound. The increasing property crime activities across the world have instigated the people to deploy security systems at their premises. According to the 2017 crime statistics from the FBI, a burglary offense occurred in every 23 seconds, and there were an estimated 1,401,840 burglaries, in the United States. These findings are an attenuated representation of the ubiquity of the burglary offenses that have taken place in the world. Thus the rising emphasis on home security is consequently increasing the adoption of security systems, thereby propelling the demand for micro switches. Therefore, the aforementioned factors are expected to remain the key growth drivers for the microswitch market.
The Micro Switches Market was evaluated to attain a value of $601 million in 2018. Moreover, the demand for the products is projected to prosper at a standard CAGR of 2.5% during the forecast period 2019-2025.
Micro Switch Market Enticing Profits as Power System Segment Emerges as Key Application Segment—
Based on application, the micro switch market is segmented into electronic equipment, instrument, power system, and appliances equipment. Among these, the power system sector is expected to create maximum revenues to the market during the forecast period. This can be attributed to the extensive applications of microswitches in power systems. Microswitches are used in the power systems to turn off and turn on the power supply to the equipment connected to it. They are used for detecting switching power as they can open or close an electrical circuit in no time. With the increasing industrialization and urbanization across the world, there is a growing demand for greater security of power supply through efficiency. Thus, smart grid technology, which can automatically read and react to supply and demand changes and promote energy and cost efficiency, is gaining popularity. This, in turn, fuelled the need for sophisticated control systems that utilize micro switches to secure electrical circuits and appliances in the grid. These factors have propelled the demand for micro switches. Therefore, the key application segment is anticipated to proliferate at a standard CAGR of 3.1% through to 2025.
Micro Switch Market leveraging End-use Industries in APAC Region—
Geographically, APAC is estimated to be the most lucrative marketplace for micro switch market with a demand share of 55% in 2018, and the dominance is expected to continue throughout the forecast period. This is mainly attributed to the fact that the microswitch market has been uplifting in line with the manufacturing renaissance of the emerging economies, including India, China, and Japan. The inexpensive micro switches, owing to its high reliability and durability, became a popular option in the electronics market. Thus, the prosperity in the electronics industry, especially in India and China, has led to promising prospects for the market in the Asia Pacific. The growth in the electronics industry can be easily fathomed from the statistics provided by Invest India, according to which the India electronics industry is anticipated to attain $228 billion by 2020 from over $100 billion in 2016-17.
Moreover, the growth of the regional market is mainly attributed to the burgeoning automotive industry. A vehicle consists of a large number of electrical circuits and components which are interconnected by micro switches that are specifically designed to work as a sensor for detecting the availability or non-availability of electrical or mechanical input. Within a short period, the micro switches surfaced as an eminent part of a vehicle. Manufacturers are developing intricate combinations of mechanical construction amalgamated with electronic systems that are enhancing intelligence, and are fitted with systems such as HVAC, electric steering, infotainment, heated seats, and headlight controls, where micro switches play an important role. So, the flourishing automotive industry in the developing countries with the increasing prospects for EVs (electric vehicles), is poised to propel the growth of the market for micro switches. The growth in APAC automotive industry can be easily fathomed from the bulk production of automobiles in China and India, which were estimated to produce around 33 million motor vehicles cumulatively, in 2018, according to International Organization of Motor Vehicle Manufacturers (OICA). Thus, it can be reckoned that the rapidly growing manufacturing industries have rendered APAC with the maximum market share.
Micro Switch Market Company’s Strategies—
Some of the major companies ahead of the curve in the global micro switch market are Omron, Alps, Panasonic, TROX, ZIPPY, Honeywell, Johnson Electric (Burgess), Salecom, Camsco, CHERRY, SCI, Solteam, Tend, NTE, Kaihua, TTC, Tengfei, Xurui, and Greetech. To achieve an edge over their opponents, these players are regularly involved in acquisitions and mergers, as it helps them fortify their supply chain as well as find potential customers.
· On February 12, 2019, Honeywell announced a new micro switch model, V15W2 Basic Switch, an explosion-proof-rated, snap-action, electromechanically sealed switch, that is suitable for applications such as commercial appliances, valves, generators, compressors, damper equipment, actuators, refrigeration, ice makers, HVAC equipment, and other hazardous locations where flammable gasses may be present. These switches aids in reducing the risk of explosions
· On 17 April 2019, Greetech Electronics Co., Ltd., released a new series of basic micro switches. This switch consists of a roller lever and three terminals. Moreover, it has tight configuration, small contact gap, high sensitivity, and small operation travel, and also global safety approval.
· On 12 May 2017, Johnson Electric, opened their new production line in Arujá, Brazil. This new factory is aimed to serve customers globally and locally. Moreover, on 24 November 2016, the company opened a new production plant in Bedzin, Poland. These type of expansion activities are intended to fortify their supply chain.
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