Global electromechanical switch market to grow 3 to 5%
Natick, MA —The global market for electromechanical switch products is expected to reach $4.2 billion by 2008, according to a recent study by Venture Development Corp . (VDC). After showing a decline for several years due to financial crises, the switch products groups covered in the study finally are showing growth. The forecast for global switch consumption shows a 3-5% increase, rising from $3.7 billion in 2004 to just over $4.2 billion in 2008.
Recent VDC study forecasts a 3-5% growth in the global electromechanical switch market between 2004 and 2008.
Highest growth product categories include pushbutton, rocker, DIP, and electromechanical switches. Global market share for pushbutton switches is expected to increase each year of the forecast period (2004-2008). Areas consuming more of this type of switch include appliance/power tool, automotive transportation, and telecommunications.
Huge growth is expected for rocker switches in North America. DIP switches will experience a gain in global market share as more applications and products find DIP switches to be a viable alternative. The study also predicts that after nearly 5 yr of industry-wide decline, the electromechanical switch market will experience resurgence.
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—Control Engineering Daily News Desk
Jeanine Katzel, senior editor, email@example.com