The global Rocker Switch Market was valued at $6,314.58 million in 2021, and is projected to reach $9,168.62 million by 2031, registering a CAGR of 3.86% from 2022 to 2031. A rocker switch is used to simply ON/OFF the device on which it is mounted. In addition, rise of electric vehicles has provided a boost to manufacturing of rocker switch and it is anticipated to provide a steady rise for the forecasted period.
The growth of the global rocker switch market is majorly driven by end use verticals such as automotive, aerospace and healthcare sectors. Moreover, government schemes and various electronic standards set by global bodies to reduce the pollution caused during the manufacturing process will propel the rocker switch market growth during the forecast period. On the contrary, healthcare sector is expected to provide lucrative opportunities for the growth of the rocker switch market during the forecast period.
The global digital thermometer market research is segmented into switching configuration, and end user verticals. On the basis of switching configuration, the market is bifurcated into single-break and double break. The double break segment dominated the market, in terms of revenue, in 2021, and is expected to follow the same trend during the forecast period. By end user verticals, the market is segmented into automotive, aerospace, heating ventilation and air conditioning (HVAC), instrumentation and others. The automotive segment subjugated the market, in terms of revenue, in 2021, and is expected to follow the same trend during the forecast period.
The key players operating in the market include ABB Ltd., APEM, Carling Technologies, Eaton Corporation, Emerson Electric Co., E-switch, Everel Group S.p.A., Honeywell International Inc., Leviton Manufacturing Co. Inc., NKK Switches, Omron Corporation., OTTO Engineering, Panasonic, Schruter, Sensata Technologies, Inc., TE Connectivity and ZF Electronics.
The overall rocker switch market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current rocker switch market forecast is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
The report includes the market share of key vendors and rocker switch market trends.
The growth of the global rocker switch market is majorly driven by end use verticals such as automotive, aerospace and healthcare sectors. Moreover, government schemes and various electronic standards set by global bodies to reduce the pollution caused during the manufacturing process will propel the rocker switch market growth during the forecast period. On the contrary, healthcare sector is expected to provide lucrative opportunities for the growth of the rocker switch market during the forecast period.
The global digital thermometer market research is segmented into switching configuration, and end user verticals. On the basis of switching configuration, the market is bifurcated into single-break and double break. The double break segment dominated the market, in terms of revenue, in 2021, and is expected to follow the same trend during the forecast period. By end user verticals, the market is segmented into automotive, aerospace, heating ventilation and air conditioning (HVAC), instrumentation and others. The automotive segment subjugated the market, in terms of revenue, in 2021, and is expected to follow the same trend during the forecast period.
The key players operating in the market include ABB Ltd., APEM, Carling Technologies, Eaton Corporation, Emerson Electric Co., E-switch, Everel Group S.p.A., Honeywell International Inc., Leviton Manufacturing Co. Inc., NKK Switches, Omron Corporation., OTTO Engineering, Panasonic, Schruter, Sensata Technologies, Inc., TE Connectivity and ZF Electronics.
KEY BENEFITS FOR STAKEHOLDERS
This study comprises analytical depiction of the rocker switch market size along with the current trends and future estimations to depict the imminent investment pockets.The overall rocker switch market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current rocker switch market forecast is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
The report includes the market share of key vendors and rocker switch market trends.
Key Market Segments
By Switching Configuration
- Single-Break
- Double Break
By End Use Verticals
- Aerospace
- HVAC
- Instrumentation
- Automotive
- Others
By Region
- North America
- Canada
- Mexico
- U.S.
- Europe
- France
- Germany
- Italy
- United Kingdom
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ABB Ltd
- apem, inc.
- carling technologies
- Eaton Corporation
- Emerson Electric Co.
- e-switch, inc.
- everel group s.p.a.
- Honeywell International Inc.
- Leviton Manufacturing Co. Inc.
- nkk switches
- Omron Corporation
- OTTO Engineering
- Panasonic Corp.
- Schruter
- sensata technologies, inc.
- TE Connectivity Ltd.
- ZF Friedrichshafen AG
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ROCKER SWITCH MARKET, BY SWITCHING CONFIGURATION
CHAPTER 5: ROCKER SWITCH MARKET, BY END USE VERTICALS
CHAPTER 6: ROCKER SWITCH MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Rocker Switch Market," the rocker switch market size was at $6.3 billion in 2021, and is estimated to reach $9.2 billion by 2031, growing at a CAGR of 3.86% from 2022 to 2031.The growth of the global Rocker Switch market is majorly driven by advent of technology in automotive, and aerospace globally paired with increase in number of consumer goods production around the globe. Moreover, various government schemes such as PLI Scheme of India and standard such as EIA-520D000 and MIL-S-22885/92 is expected to propel the Rocker Switch market growth during the forecast period.
According to Rocker Switch market research, the double break segment was the highest contributor to the market in 2021. The double break segment is expected to reach for around 4.7% CAGR from 2022-2031. Surge in deployment of Rocker Switch solutions across commercial and industrial sector has led the growth of the double break segment; thereby, enhancing the Rocker Switch market growth.
COVID-19 has impacted both consumers and the economy. Electronics manufacturing hubs have been temporarily shut down to limit the COVID-19 spread among individuals. This has majorly affected the supply chain of the rocker switch market by creating shortage of materials, components, and finished goods. Major players operating in the rocker switch market are expected to make low R&D cuts, which will allow them to sustain a rich and evolving product portfolio. However, automobile manufacturers are favoring rocker switches over traditional gear sticks, resulting in increased market growth.
Region-wise, Asia-Pacific and Europe holds a significant share in the global Rocker Switch market, owing to the presence of prime players in this region. The adoption of double break rocker swicthes is expected to propel the growth of the Rocker Switch industry in this region. Moreover, rise in launch of commercial and industrial rocker switches in North America and LAMEA is anticipated to drive the Rocker Switch market trends in this region.
Key Findings of the Study
- In 2021, the double break segment accounted for maximum revenue, and is projected to grow at a notable CAGR of 4.7% during the forecast period.
- The automotive and others segments collectively accounted for around 50% market share in 2021.
- The automotive and instrumentation segments are expected to witness considerable CAGRs, during the forecast period.
- Asia-Pacific and Europe collectively accounted for majority share of rocker switch market share in 2021.
- The report provides a detailed rocker switch market analysis based on competitive intensity and the competition that will take shape in coming years
- The key players profiled in the report include ABB Ltd., APEM, Carling Technologies (Carling Switches), Eaton Corporation, Emerson Electric Co., E-switch, Everel Group S.p.A., Honeywell International Inc., Leviton Manufacturing Co. Inc., NKK Switches, Omron Corporation., OTTO Engineering, Panasonic, Schruter, Sensata Technologies, Inc., TE Connectivity and ZF Electronics. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the Rocker light Switch market.
Companies Mentioned
- Abb Ltd
- Apem, Inc.
- Carling Technologies
- Eaton Corporation
- Emerson Electric Co.
- E-Switch, Inc.
- Everel Group S.P.A.
- Honeywell International Inc.
- Leviton Manufacturing Co. Inc.
- Nkk Switches
- Omron Corporation
- Otto Engineering
- Panasonic Corp.
- Schruter
- Sensata Technologies, Inc.
- Te Connectivity Ltd.
- Zf Friedrichshafen Ag
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, 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
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 317 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 6314.58 million |
| Forecasted Market Value ( USD | $ 9168.62 million |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
