Limit Switches Market Segmented By Compact Limit Switches, Hazardous Location Limit Switches, Heavy-duty Limit Switches Application with Roller Actuated, Plunger Actuated, Lever Actuated Limit Switches with Momentary/Spring Return, Non-return Operation
Industry: Industrial Automation
Published Date: March-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 270
Report ID: PMRREP24565
Newly-released data on the global limit switch market shows that worldwide sales are expected to reach 22,513 thousand units in 2022, registering Y-o-Y growth of 5.1%. By value, sales of limit switches are predicted to increase at 6.1% CAGR and reach a valuation of US$ 3.34 Bn by the end of 2032.
| Attribute | Key Insights |
|---|---|
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Limit Switch Market Size (2021A) |
US$ 1.76 Bn |
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Projected Year Value (2032F) |
US$ 3.34 Bn |
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Value CAGR (2022-2032) |
6.1% |
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Collective Value Share: Top 3 Countries (2022E) |
33.7% |
As per detailed industry analysis by Persistence Market Research, limit switch consumption (thousand units) across the world is expected to witness a growth rate of 5.7% through 2032. As of 2021, limit switch sales accounted for more than 30% share of the global switches market.
South Asia & Pacific is anticipated to remain a prominent regional market for the limit switch business, surging at a CAGR of 7.1% through 2032.
Revenue from limit switches, including varied types such as roller actuated limit switches, plunger actuated limit switches, flame rollout switches, and lever-actuated limit switches, totalled around US$ 1.16 Bn in 2021, up from around US$ 1.55 Bn in 2017, as the market witnessed a growth rate of around 3.3% from 2017 to 2021.
Demand for various limit switch types such as position switches, safety switches, miniature switches, micro limit switches, rotary limit switches, door limit switches, and compact switches is expected to remain steady over the coming years.
In the past few years, factors such as rising industrialization, digitalization, and automation in industrial as well as other sectors have provided a significant boost to global limit switch demand. Rising automation in Europe and the U.S. coupled with an increasing manufacturing sector in Asia, particularly in the South Asia and Pacific region, has been a prominent driving force for market expansion.
Additionally, factors such as increased battery manufacturing also indirectly affect market growth. For instance, demand for battery manufacturing has increased tremendously in the recent past, and according to Persistence Market Research, the lithium-ion battery market was valued at US$ 44 Bn in 2020, and is set to surge ahead at a CAGR of 16% through 2031. Increased demand for batteries has resulted in growing metal and mining activity, which has resulted in increased demand for limit switches and limit switch sensors from the metals and mining sectors.
Moreover, steady growth in other end-use industries such as process, material handling, transportation, and others has also positively impacted market growth, and this trend is expected to continue over the forecast period as well.
“High Installation of Automatic/Touchless Doors During COVID Driving Limit Switch Usage”
Significant demand for limit switches and limit switch sensors from the healthcare sector has been observed in the last few years, which is anticipated to create high-growth opportunities for the market going forward.
Additionally, the ongoing COVID-19 pandemic has further accelerated sales in the healthcare sector, as automatic and touchless doors in hospitals and restrooms have become a necessity to help reduce the spread of coronavirus and other viruses. The best approach to limiting coronavirus and other virus transmission at building entrances is to make the operation of doors completely hands-free, which requires the use of limit switches.
“Metal & Mining Industry Demanding Most Limit Switches”
The metal and mining industry has been a prominent end user of limit. According to a report by the World Bank, planned major infrastructure programs in the U.S. is big enough to support the prices for some metals such as aluminum, copper, and iron ore. Global shift toward clean energy is also driving demand for metals to be used in batteries.
The World Bank forecasts steady price growth through 2030 for industrial metals and minerals, which includes aluminum, copper, lead, nickel, tin, and zinc. In the metals and mining segment, only iron ore is projected to see a decline in pricing.
As such, demand for limit switches as well as limit switch sensors is set to increase steadily over the decade.
“Industry 4.0 & Rising Automation Boding Well for Limit Switch Demand Growth”
With more population moving to urban areas, cities across the globe are dealing with tight budgets and aging infrastructure. A series of wireless devices, sensors, data centers, and switches are the base for critical infrastructure in smart cities, allowing government bodies to provide necessary services in a more optimized and efficient way.
Smart cities tend to be much more environmentally safe because they use sustainable products, and this helps in decreasing average energy usage. Optimized use of technology aids in the creation of an efficient transportation management system, improvement of healthcare facilities, and development of fast networks.
Additionally, Industry 4.0 norms and rising automation in the industrial sector to create a more connected and autonomous environment are also gaining traction like never before. Furthermore, industry executives are strategically focusing on new approaches to optimize the work environment.
Mega-trends such as urbanization, Industry 4.0, and automation are playing a vital role in uplifting global consumption of limit switches.
“Regulations & Standards Hindering Market Potential”
Stringent government regulations & standards regarding the use of limit switches, especially in developed economies, pose a major challenge for small- and medium-sized market players.
Regulations require changes in material and specifications according to application. These regulations & standards change according to the region, such as the U.S. has the National Electrical Manufacturers Association (NEMA), Europe follows European Standards (ES), while there is also the International Electrotechnical Commission ICE (ICE), besides others.
“Economic Uncertainty May Affect Industry Expansion in Future”
Furthermore, economic uncertainty is also anticipated to affect the performance of the manufacturing and service sectors, which may bar some players from entering the market due to uncertainty in demand. Thus, the sluggish macro-economic environment can act as an indirect restraint to the growth of the market.
What is the Limit Switch Market Scenario in the U.S.?
In 2022, limit switch demand in the U.S. is set to increase 5% Y-o-Y. In North America, total sales of limit switches are expected to account for more than 16% of the global market share by value in 2022.
According to the National Association of Manufacturers (NAM), the manufacturing industry in the United States accounts for more than 11% of the total output in the economy, employing 8.5% of the workforce. Total output from manufacturing was US$ 2,334.60 billion in 2018, and since the 2009 global recession, the U.S. manufacturing sector has shown substantial growth.
The manufacturing industry has been a prominent end user of limit switches in the country. Furthermore, other end-use industries such as metals and mining, process industry, material handling, and transportation also account for a significant share in limit switch demand generation.
Why is China Considered a Lucrative Limit Switch Market?
With an absolute dollar opportunity of around US$ 206.4 Mn, China is one of the most lucrative markets for limit switches in the East Asia region. China is leading the East Asian market and is expected to witness 2X growth during 2022-2032.
With increased industrialization and improvement in urban development systems, limit switches have gained significant sales in recent times. Besides, China remains a prominent country for mining, process industry, material handling equipment, transportation and others, owing to which, the country has been one of the top consumers of limit switches.
Why are Sales of Limit Switches Surging in India?
India is one of the fastest-growing markets in the South Asia & Pacific limit switch market, projected to surge at a CAGR of 7.6% through the forecast period.
As per IMF`s latest World Economic Outlook (WEO) growth projections, India`s real GDP is projected to grow 9% in 2022-23 and 7.1 % in 2023-24. This projects India as the fastest-growing prominent economy in the world.
As an emerging country, India is anticipated to witness significant growth in its industrial and public sectors. Additionally, India’s push to develop globally competitive manufacturing centers represents one of the biggest opportunities for economic growth as well as the India limit switch market.
Which Limit Switch Type Will See Significant Demand?
Heavy-duty limit switches lead the market by product type and are anticipated to grow at a CAGR of 6.3% through the forecast period.
Heavy-duty limit switches are favorable for medium- to high-duty applications, owing to which, these switches are used for an array of applications in the industrial sector as well as other end-use sectors.
Why is Demand for Roller Actuated Limit Switches Getting Stronger?
As of 2022, roller actuated limit switches account for more than 64% market share by value.
Roller lever limit switches are one of the most popular and widely used switches in almost every application. Additionally, roller limit switches are available in various combinations and sizes.
Which End Use Accounts for Highest Sales of Limit Switches?
By limit switch application, the manufacturing industry leads the global limit switch market and is anticipated to remain dominant through the forecast period.
Limit switches are extensively used in the manufacturing industry for control devices and safety devices for machinery and personnel. Additionally, the manufacturing industry accounts for a prominent share in the industrial sector, which is why limit switch consumption is high in this segment.
Which Operation of Limit Switches Will Bring in High Returns for Market Players?
Based on operation, momentary/spring return limit switches are anticipated to account for a prominent share in the market, holding more than 75% value share by the end of the forecast period. This high market share can be attributed to the automatic return mechanism that is highly preferred in the industrial sector.
Major manufacturers of limit switches are focusing on strategic expansions to increase their geographical presence through acquisitions, mergers, and collaborations. Moreover, leading limit switch suppliers are providing low CO2 products and adopting other practices that contribute toward a more circular economic value chain.
Some of the key market developments are:
Similarly, other key developments related to companies manufacturing limit switches have been tracked by the team at Persistence Market Research, which are available in the full report.
| Attribute | Details |
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Forecast Period |
2022-2032 |
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Historical Data Available for |
2017-2021 |
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Market Analysis |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
Limit Switch Market by Application:
Limit Switch Market by Actuator Type:
Limit Switch Market by Operation:
Limit Switch Market by End Use:
Limit Switch Market by Region:
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The global limit switch market is estimated to be valued at US$ 1.85 Bn as of 2022.
Increased utilization of limit switches in industrial automation and process industries and high demand from the metals and mining industry are key growth factors for the market.
Limit switch sales are projected to increase at 6.1% CAGR and be valued at around US$ 3.34 Bn by 2032-end.
China, the U.S., India, Germany, and Japan are driving most demand growth of limit switches.
The market in Germany is set to expand at 7% CAGR through 2032.
China, the U.S., and Germany are major producers and exporters of limit switches.
Together, Japan and S. Korea are slated to hold 10.1% share in the global market by 2032.
