Global Pressure Switch Market Size, Share, Growth Analysis, By Type(Electromechanical, and Solid-state), By Pressure Range(Below 100 bars, 100 to 400 bars), By Application(HVAC, Monitoring & Control) - Industry Forecast 2024-2031

Global Pressure Switch Market size was valued at USD 1.45 billion in 2022 and is poised to grow from USD 1.51 billion in 2023 to USD 2.1 billion by 2031, growing at a CAGR of 4.2% in the forecast period (2024-2031).

A switch that is activated or deactivated on the application of pressure is known as a pressure switch. It is extensively used in different kinds of industry verticals for safety and automation purposes. The growing adoption of automation technologies in different industries around the world is predicted to bolster the demand for pressure switches over the coming years. Rapid industrialization and urbanization are also projected to favor sales of pressure switches across the forecast period and beyond. Surge in automotive production and chemical manufacturing activity are also contributing to the high-pressure switch sales across the world. Growing focus on safety and implementation of strict safety mandates also contribute to rising pressure switch sales going forward.

Surging adoption of pressure switches in HVAC applications is also a key trend that could provide attractive new opportunities for pressure switch companies in the future. However, the presence of alternative sensing technologies and complexity of installation associated with pressure switches are estimated to be key restraints for the overall market development across the forecast period.