Global Electrical Switch Market (2017-2024)- Research Nester
Global electrical switch Market is expected to achieve an exponential growth over the forecast period.
Press Release (ePRNews.com) - BROOKLYN, N.Y. - Jun 29, 2017 - An electrical switch refers to electrical equipment that can make or break a circuit by interrupting the current or diverting it from one conductor to another. Electrical switches are available in manual or automatic form. A switch may be directly operated by a human as a control signal to a system such as a computer keypad button or to control power flow in a circuit.
Market Size and Forecast
The factors influencing the growth of electrical switch market include rising consumer demand for energy saving lighting systems, acceptance of standard protocols for lighting control and favorable government initiatives for saving electricity.
Geographically, Asia-Pacific dominated the electrical switch market in 2016. China, Japan and India grabbed the largest market share in the region. Easy availability of these electrical switches at affordable prices in the Indian market has increased their adoption in various applications such as in commercial and residential buildings, industries, hospitality and others. The rapid boom in the construction sector in India and China has boosted the growth of electrical switch market. Further, the growing indigenous demand for electrical switch in India as a result of rising disposable income among the growing middle and affluent class and the growing infrastructure in recent times is expected to make India an important consumer of electrical switch in the near future.
Apart from this, North America stood at second position in electrical switch market in the same year. In North America, U.S. dominated the electrical switch market. Electrical switches in North America are reliant on the growth of industrial, commercial and residential facilities. North America electrical switch market is expected to expand at a higher pace over the forecast period.
Our in-depth analysis segmented the electrical switch market in the following segments:
Traditional electrical switch
Smart electrical switch
By End User
By Distribution Channel
Global electrical switch market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, South Korea and Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
Rapid urbanization coupled with development of advanced modular electrical switches is one of the major factors driving the growth of electrical switch market. Apart from this, manufacturers are developing advanced electrical switches that are more energy efficient and require less maintenance. Further, the growing indigenous demand for electrical switch is a result of rising disposable income among the growing middle and affluent class. Moreover, the changing and modernized infrastructure is expected to show a robust demand for electrical switches in the near future.
Another crucial factor fostering the growth of electrical switch market is the rapid growth in real estate industry. It has been notified that the builders prefer good quality electrical switches. Apart from this, rising internet penetration has also intensified the growth of electrical switches market due to wide variety of products available at an online portal with a discounted price.
The safety and security concerns and increasing acceptance of smart and attractive electrical switches among end users is anticipated to be one of the dynamic factors behind the rapid growth of electrical switch market over the period 2017-2024.
However, the growth of electrical switch market is likely to be hindered by the fluctuating raw material prices and availability of low quality and cheap products.
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