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Thermal Switches Market By Type (Mercury Switches, Gas-Actuated Thermal Switches, Thermal Reed Switches, and Rod & Tube Thermal Switches), and End User (Oil & Gas, Food & Beverages, Industrial, Commercial, Military, Space, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09513
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Jan 2021 | 117 Views
 
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Thermal Switches Market Outlook – 2027 

A thermal switch is an electromechanically device which control the flow of electric current by opening and closing contacts in response to temperature change. It is suited for protecting against temporary situations which are common and are usually reusable. Thus, they find their use in thermostats in heating and cooling systems and in power supplies in case of overload in applications such as dryers, jetliners, industrial equipment and others in end uses such as industrial, commercial, military, and space. Innovations in the semiconductor industry paves the way for better and improved thermal switches. The global market for thermal switches is experiencing a significant growth, and will grow considerably in next few years. 

The global thermal switches market is segmented on the basis of type, end user, and region. Based on type, the thermal switches market is divided into mercury switches, gas-actuated thermal switches, thermal reed switches, and rod & tube thermal switches. On the basis of end user, the market is divided into oil & gas, food & beverages, industrial, commercial, military, space, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global thermal switches industry include Honeywell, Control Products Inc., OMEGA, Nason, Selco Products Company, Haldex, Microtherm CZ, COBO, Microchip Technology, and Hytec Group. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market. 

Top Impacting Factors

The major factor which drives the market growth is the increased demand from the oil & gas and food and beverages industry. In addition, due to the various advantages offered by electronic products, there has been an increase in their demand which has further led to increase in the demand for thermal switches. Moreover, its increased usage in applications such as motors, mobile hydraulics, cooling and heating circuits and others will further fuel the market growth.

New Product Launches to Flourish the Market

500 series thermal switches were launched by Honeywell for aerospace, military and commercial applications. It has been packaged for severe environments with flexible mountings and combines small size with robust electrical characteristics. One of the core competence it has is the design of the switch is push to open contact which helps in reducing vulnerability to vibration and shocks. They provide reliable and precise temperature control that requires less or no power. Thus, this product flourished the market as it also provided custom configurations and temperatures, quality assurance and factory product applications. 

Surge in Usage in Aerospace Industry 

Thermal switches have been replaced with remote switches and local sensors in various applications. But, there are still places like the aerospace industry where standalone, hardened and autonomous thermal switches are required. There are companies like CPI which design and manufacture thermal switches for particularly aerospace applications such as compressors, ECS, galley equipment, APU’s, hydraulic fluid temperature monitoring and others. As these switches have hermetically sealed designs, thread and surface mount designs which are suitable for fighter jets in Air Force in aerospace industry, there has been a surge in its usage.

Key Benefits of the Report

  • This study presents the analytical depiction of the global thermal switches market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global thermal switches market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global thermal switches market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global thermal switches market analysis based on competitive intensity and how the competition will take shape in coming years. 

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available For Years

2019-2027

Base Year Considered

2019

Forecast Period

2020-2027

Forecast Units

Value (USD)

Segments Covered

Type, End User, and Region

Regions Covered

North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, and Middle East, and Africa) 

Companies Covered

Honeywell, Control Products Inc., OMEGA, Nason, Selco Products Company, Haldex, Microtherm CZ, COBO, Microchip Technology, and Hytec Group

 

COVID-19 Scenario Analysis

  • Global thermal switches market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors. 
  • Global factories have struggled to integrate new strategies as workers have stayed in their homes, which disrupted the global supply chains. 
  • The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for market are gradually going to increase.  
  • This COVID-19 lockdown would help companies think about more advanced thermal switches to enhance their efficiency.

Thermal Switches Market Key Segments

Segments

Sub-Segments

Type

  • Mercury Switches
  • Gas-Actuated Thermal Switches
  • Thermal Reed Switches
  • Rod and Tube Thermal Switches

End User

  • Oil and Gas
  • Food and Beverages
  • Industrial
  • Commercial
  • Military
  • Space
  • Others

 

Questions Answered in the Thermal Switches Market Research Report

  • Which are the leading market players active in the thermal switches market?
  • What would be the detailed impact of COVID-19 on the thermal switches market size?
  • How current thermal switches market trends would influence the industry in the next few years?
  • What are the driving factors, restraints, and opportunities in the global market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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