Albany, NY — (PRESS RELEASE JET) — 09/29/2017 — Micro switches are known for their long life, which is expected to keep micro switches constantly in demand globally. The growth of the micro switch market is mainly attributable to the developing automotive industry. Several reputable players in the market are trying to innovate new micro switch technology, which is expected to create a robust opportunity for growth of the micro switch market in the coming years. To explore more information on this rapidly growing market, a study titled “Automotive Micro Switch Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025″ has been published to the vast online repository of Market Research Hub (MRH). This 173-pages forecast study provides a holistic view on the market’s growth in terms of revenue (in US$ Mn) across different geographic regions, such as North America, Europe, Asia Pacific, Middle East & Africa and South America.
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Micro switches are a category of electric switches that are actuated through the use of a tipping-point mechanism with very little force. It has a major feature of better reliability. Apart from that, they are very common due to their durability and low cost. The automotive industry is the largest adopter of micro switches, which are primarily used in engine area interiors, operation systems, door interlocks, electronic steering column lock, seat detection and others. The study also finds that one of the prominent drivers for the micro switch market is consumer electronics industry.
As per the study key findings, the global automotive micro switch market was valued at US$2,728.8 mn in 2016 and is likely to rise to US$4,282.2 mn by 2025, at a steady CAGR of 5.1%. In terms of geography, Asia Pacific dominates the global automotive micro switch market, followed by North America. The rising use of electronics in modern automotive design is likely to remain a key driver for the global automotive micro switch market.
This report comprises an executive summary, including a market portrait of automotive micro switch that provides overall information of various segments and sub-segments. The report also offers valuation of crucial drivers that are impacting the global market, along with the restraints and opportunities. Moreover, the report segments the market on the basis of major end-user and type. By product type, it covers Standard Micro Switches, Double Pole Double Throw Micro Switches, General Purpose Micro Switches, Single Pole Standard Precision Micro Switches, Reset Switches, Subminiature Micro Switches, Door Interlock Switches, Ultraminiature Micro Switches and others. On the other hand, major end-user in this market include consumer electronics, industrial, automotive, retail and others.
Additionally, the competitive landscape is inclusive of the various business strategies adopted by major players and their recent developments in the field of automotive micro switch. Some of the key players engaged in automotive micro switches market include OMRON Corporation, Alps Electric, C&K Components Inc., The APEM Group, CAMSCO Electric Co. Ltd., Honeywell Sensing and Productivity Solutions, Johnson Electric Holdings Ltd., ZF Electronics, Microprecision Electronics, TROX GmBH, Knitter Switch, Crouzet Automatismes SAS, Panasonic Corporation, Salecom Electric Co. Ltd., TE Connectivity and Zippy Technology among others
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