U.S. pressure switch market withstands competition, slow growth
Natick, MA—Despite growing competition from pressure transducers and transmitters, pressure switches will continue to be used in many applications, according to a recent study, 'The U.S. Market for Pressure Switches,' by Venture Development Corp. (VDC).
Natick, MA— Despite growing competition from pressure transducers and transmitters, pressure switches will continue to be used in many applications, according to a recent study, ‘The U.S. Market for Pressure Switches,’ by Venture Development Corp. (VDC). The study also revealed that the U.S. market for pressure switches is likely to increase by only a 0.2% compound annual growth rate (CAGR) from $359.6 million in 2003 to $362.9 million in 2006.
‘Despite hearing lots of talk about pressure switches being displaced by pressure transducers, we found that there are still plenty of applications in which the performance and functionality of a pressure switch does the trick,” says Tim Shea, VDC’s senior analyst. “We see continued demand for pressure switches in many industries, including utilities, HVAC, chemical and petrochemical, home appliances, food processing, and pumps and compressors. Yes, there will be some displacement of pressure switches by pressure transducers in industries such as military/aerospace, automotive, and heavy vehicles, among others.’
In addition, the breakdown in rankings of pressure switch dollar shipments by functional type is not projected to change during the 2003-2006 forecast period. Gauge pressure switches will continue to make up the largest share of the market, followed by absolute, differential, and vacuum pressure switches, respectively.
Control Engineering Daily News DeskJim Montague, news email@example.com