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Research analysis on the global float switch market identifies the low installation and maintenance costs of float switches as be one of the major factors that will have a positive impact on the growth of the market. A float switch is a simple device that helps in checking the level of liquids in tanks and storage units. These devices help in switching the pumps on or off or for indicating the level of liquids. The cost of float switches is minimal for the process and discrete industries due to which the use of these switches is expected to be high. Float switches are available in various models and based on the applications the end-user can choose appropriate switches. Owing to its minimal cost and lower maintenance costs, the demand for these float pump switches from the end-user industries will considerably increase during the forecast period. Technavio's market research analysts predict that this market will grow at a CAGR of more than 3% by 2021.
In terms of geographic regions, the Americas will be the major revenue contributor to the float switch market throughout the forecast period. The increased demand for float switches from chemicals, automotive, and power industries and high investments towards upgrading facilities, will drive the growth of the water float switch market in this region.
The float switch market has the presence of numerous players and appears to be fragmented. Development in this market has helped the vendors in gaining a significant market share and differentiating their products from the competitors'. This helps the float sensor manufacturers gain a competitive edge over their competitors. Vendors in the water float switch market are also offering customization options in choosing product variants such as the body type of float switches and coatings to reduce corrosion.
The leading vendors in the market are -
The other prominent vendors in the market are Entegris, Besta (Bachofen Holding), Endress+Hauser, FPI Sensors, FineTek, Gems Sensors & Controls, KOBOLD Messring, Madison, and SOR.
During 2016, the horizontally mountable float switches segment accounted for the major shares of the water float switch market. Factors such as the increased preference of these switches in oil and gas, power, and water and wastewater industries and the growing investments in several industrial sectors, will contribute to the growth of this industry segment in the coming years.
According to this market research report, the process industries will hold the maximum share of the float switch market until 2021. Process industries like oil and gas, water and wastewater, and chemicals are some of the major end-users of float switches. With the growing investments in these industrial sectors, the demand for these float swithces will continue to increase from this end-user segment in the water float switch market during the next few years.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product type
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
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