Safety Switches

Safety Switches

Global Safety Switches Market to Reach $1.7 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Safety Switches estimated at US$1.3 Billion in the year 2020, is projected to reach a revised size of US$1.7 Billion by 2027, growing at aCAGR of 3.9% over the period 2020-2027. Contact Switches, one of the segments analyzed in the report, is projected to record 3.7% CAGR and reach US$1.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Non-Contact Switches segment is readjusted to a revised 4.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $365.5 Million, While China is Forecast to Grow at 6.5% CAGR

The Safety Switches market in the U.S. is estimated at US$365.5 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$337.6 Million by the year 2027 trailing a CAGR of 6.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.1% and 3.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR.

Select Competitors (Total 42 Featured) -

• ABB Ltd.
• Banner Engineering Corp.
• Bernstein AG
• Eaton Corporation plc
• Emerson Electric Co.
• EUCHNER GmbH + Co. KG
• Euchner-USA, Inc.
• Fortress Interlocks Limited
• Honeywell Sensing and Internet of Things
• IDEC Corporation
• K. A. Schmersal Holding GmbH & Co., KG
• Murrelektronik GmbH
• OMRON Corporation - Industrial Automation Division
• Parmley Graham Ltd.
• Pepperl+Fuchs AG
• Pilz GmbH & Co. KG
• R. Stahl AG
• Rockwell Automation Inc.
• Schneider Electric SE
• SICK AG
• Siemens AG

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