Written by [google_authorship] on 26th February 2021
A recent market
study forecasting the temperature and pressure switches market over the next
six years has predicted a CAGR growth rate of 5% by 2027. This means the market
should reach a value of over $5 million USD (£3.5m approx.) within the same
The research was
published in Industry Today and considers various temperature and pressure switch
product types as well as end-users such, primarily commercial users in the food
and beverages industry and those in the marine, automotive and aerospace
industries. Other end users include the military, chemical plants and the oil
and gas industries.
study carried out by The Insight Partners also
conducts global analysis of the impact of Covid-19 on the temperature and
pressure switches market.
Electronic Products Driving Demand for Switches
reveals that one of the main driving forces behind the development of versatile
temperature and pressure switches is the growing demand for electronic products
within many manufacturing and processing industries.
The demand is
increasingly concentrated on applications using cooling and heating circuits, but is also
growing in industries reliant on machine building, mobile hydraulics, motors and
Covid-19’s Impact on the Temperature and Pressure Switches
The pandemic has
caused problems for many industries and economies all over the world, however
this recent research indicates that it should only have a short-term impact on
the overall growth of the global temperature and pressure switches market.
While the market
growth has lost a lot of momentum since the pandemic caused lockdowns and
business shutdowns, the production of temperature and pressure switches is
predicted to increase significantly during the first quarter of 2021.
One major issue
remaining for the temperature and pressure switches market is that their supply
chains remain disrupted. It is also the case that the majority of the world’s governments
are rightly prioritising their efforts on the medical sector before other
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temperature and pressure switches market navigates these difficult times, YB
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