Global Safety Switches Market 2016-2020
- Published: Jun 2016
- Pages: 63
- SKU: IRTNTR9666
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This industry research report presents a detailed segmentation of the global safety switches market by end-user (residential, commercial, and industrial) and by geography (the Americas, APAC, and EMEA). The key vendors in the market are ABB, GE, Rockwell Automation, Schneider Electric, and SICK.
Overview of the global safety switches market
Market research analysts at Technavio have predicted that the global safety switches market will grow steadily at a CAGR of around 6% by 2020. This market research analysis identifies the increasing demand for electricity and power distribution systems as one of the primary factors that will contribute towards the growth of this market. Recent regulations and government policies demand countries to revamp their decade-old power grid distribution and transmission lines. Moreover, the estimated increase in power generation will also demand for better infrastructure, which will again drive the growth of the safety switches market. Additionally, the increase in residential constructions and the recent rise in replacements of conventional meters with smart meters will also have a positive impact on the growth of the electrical safety switches market during the forecast period.
Benefits like low maintenance costs, resistance to chemicals, versatility in operation, and machine design flexibility have increased the demand for stainless steel switches. Stainless steel switches offer extreme operational susceptibility to harsh operating conditions and are suitable for use in industrial operations, especially waste and chemical processing. This growing preference for stainless steel safety switches will be one of the major trends that will gain traction in this market in the next four years.
Segmentation by end-user and analysis of the safety switches market
During 2015, the residential segment accounted for about 58% of the total market share and dominated the safety switches market. Factors such as the increase in residential construction and rapid urbanization will subsequently lead to the rise in electrical installations, which in turn will propel the demand for electrical safety switches during the forecast period.
Geographical segmentation and analysis of the safety switches market
According to this market study, APAC will account for about 57% of total market share by 2020 and dominate the global safety switches market throughout the forecast period. The rise in industrialization due to low labor and raw materials, growth in urban population, and regular upgradation of energy and power transmission lines will increase the demand for safety power switches in this region.
Competitive landscape and key vendors
Due to the presence of several international and local electrical switches manufacturers, this market is highly fragmented. Regional vendors are finding it difficult to compete with international players who are increasing their market presence with a diversified product lineup, better quality, and features. The estimated increase in product extensions and regular technological innovations are likely to intensify vendor competition in the market during the forecast period. Additionally, the market will also witness a number of acquisitions by international vendors who are constantly looking to expand their global presence by acquiring regional vendors.
The leading vendors in the market are -
- Rockwell Automation
- Schneider Electric
The other prominent vendors in the market are Omron, Pepperl-Fuchs, Eaton, Schemersal, IDEM, and Euchner.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the safety switches market?
- What are the key market trends impacting the growth of the safety switches market?
- What are the challenges to market growth?
- Who are the key vendors in the safety switches market?
- What are the market opportunities and threats faced by the vendors in the safety switches market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the safety switches market?
Technavio also offers customization on reports based on specific client requirement.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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