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Automotive Pressure Switch and AC Pressure Switch Market Segmented By application such as Dual Function pressure switch, HPCO, Fan, Compressor cycling, Loss of charge and High side low pressure
A pressure switch is a form of switch that closes an electric contact when a certain set pressure has been reached on its output. The switch is designed to make contact either on pressure rise or on pressure fail. The AC pressure switches are safety switch that is mounted on both high and low sides of AC system. The major function is to monitor the pressure of the refrigerant on the respective sides. The pressure switches serve to protect the compressor and prevent possible damages.
APAC region is mainly dominated by the countries such as China, India, and Japan as the automotive industry is growing at a faster rate. Further the growing number of vehicle manufacturing facilities in these countries due to the low cost of production in developing countries along with increasing production capacity and growing demand for light and heavy vehicles are expected to surge demand for automotive pressure switch/ AC pressure switch market during the forecast period.
Western Europe is a matured market for automotive industry, however the eastern European automotive industry is expected grow at an accelerated rate after the negative effect of Euro crisis in 2008 and is recovering at a faster rate after 2013.
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The growth of automotive pressure switch/AC pressure switch market propelled by factors such as government regulations for safety, efficiency, and driver assistance, increasing vehicle electrification and the increasing demand for safety, convenience, and comfort have enhanced the demand for these products.
In the emerging economies such as China and India, the market for vehicles are growing at an accelerated rate and this expected to surge the demand for automotive pressure switch/ AC pressure market during the forecast period.
For instance, China’s light vehicle market is expected to grow to 25 million units by 2020 and similarly the heavy commercial vehicle are projected to reach 1.6 million units during the same period.
Factors such as low cost, along with the multi-functionality of pressure switch costs for many automotive systems are driving the market for automotive pressure switch/ AC pressure switch market. For instance, Texas instruments pressure switch are low weight, have dual function capability, and can handle automotive temperature range between -30 to 125° C. These features makes the product unique.
In North America, the cheap labor and the lower cost of vehicle production and increasing number of OEM’s setting up the production sites in Mexico are few of the major factors in the automotive pressure switch/ AC pressure switch market.
Government all across the globe are making it mandating various acts to ensure the safety of the passengers in the vehicles. For instance, the TREAD Act in US, has made fixing of Tire Pressure Monitoring Systems compulsory in all the types of vehicles.
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The Automotive Pressure Switch/ AC Pressure Switch Market is fragmented and competitive, with large number of players operating at the regional and local level. Some of the major key players in the market includes,
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