Global Electronic Pressure Switches Market - Drivers and Forecasts by Technavio

Technavio analysts forecast the global electronic pressure switches market to grow at a CAGR of more than 3% during the forecast period, according to their latest report.

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The research study covers the present scenario and growth prospects of the global electronic pressure switches market for 2017-2021. The market is segmented on type (single output electronic pressure switches and double output electronic pressure switches) and end-user (oil and gas industry, power generation industry, chemical and petrochemical industry, and machine tool industry). The market is further segmented into geography, including APAC, the Americas, and EMEA.

The global electronic pressure switches market is expected to exhibit a slow growth during the forecast period. However, it is likely to have revenue pockets from markets in Asia, the Middle East, and Latin America, as these regions have the potential for the growth of industrial plants and machinery units. Vendors in Europe and the Americas are facing stiff competition not only from regional medium-scale enterprises but also from manufacturers in APAC. The primary factor fostering the competition is cost.

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Technavio industrial automation research analysts highlight the following three factors that are contributing to the growth of the global electronic pressure switches market:

• Increasing demand for automated equipment in developing countries
• Rising replacement of mechanical pressure switches by electronic pressure switches
• Strict government regulations on plant safety

Increasing demand for automated equipment in developing countries

The rise in purchasing power for automated equipment in developing economies such as India, China, Malaysia, the UAE, Mexico, Brazil, and South Africa along with the increase in industrial activities in power generation, oil and gas, petrochemical, and food and beverages industries is expected to drive the electronic pressure switches markets in Asia, the Middle East, and Latin America. The rise in demand for automated equipment will directly increase the adoption of electronic pressure switches.

Bharath Kanniappan, a lead automation research analyst at Technavio, says, “Industrialization and increasing mobility in developing countries have led to an increased adoption of automated equipment. The integration of automated equipment with electronic pressure switches has the ability to send out instant pressure variation signals to the control room.”

Rising replacement of mechanical pressure switches by electronic pressure switches

The replacement of mechanical pressure switches with electronic pressure switches is owing to the rise in the requirement for data collection and process control. The electronic pressure switches can provide continuous data output about the process pressure in various applications. Mechanical pressure switches cost less and are installed in plant machinery to monitor pressure variations.

“Mechanical pressure switches normally do not allow hysteresis change, and the reset point cannot be configured. Whereas in electronic pressure switches, the hysteresis range can be set based on their applications in various end-user industries. The integrated programmable logic provides output signals to be tailored based on applications,” adds Bharath.

Strict government regulations on plant safety

There has been an increase in the number of accidents related to blowouts due to uncontrollable pressure in workplaces. As a result, most of the regulatory bodies have introduced strict regulations for companies to comply with. Industries need to maintain certain safety requirements during the use of equipment that is employed to monitor and control pressure in work areas.

Certain certifications on safety standards from regulatory bodies are required to initiate operations of machinery in a plant. The machinery and equipment used should comply with specified safety norms. Norms and safety standards can vary with the regulatory bodies and countries. Some of the regulatory bodies are Occupational safety and health administration (OSHA), Canadian Standards Association (CSA), China Compulsory Certification (CCC), International Electro-Technical Commission (IETC), and International Organization for Standardization (ISO).

Top vendors:

• Bosch Rexroth
• Danfoss
• Honeywell
• Parker Hannifin
• BD|SENSORS

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