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.
Click here for more on Electromechanical Switches: Global Market Demand Analysis.
—Control Engineering Daily News Desk
Jeanine Katzel, senior editor, jkatzel@reedbusiness.com
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