Reed Switch Market - Forecasts from 2023 to 2028

The global reed switch market was valued at US$518.999 million in 2021.

A reed switch is an electronic switch that consists of two ferromagnetic reeds that are hermetically sealed inside a glass tube. When a magnetic field is applied to the switch, the reeds are drawn together, and their electrical contacts touch, closing the circuit. Different types of reed switches include waterproof, electric, and magnetic reed switches, among others. Reed switch is used in a variety of applications, including security systems, measurement devices, speedometers, and consumer electronics, and with the increasing demand for reliable, low-power, and cost-effective switching solutions in a wide range of applications is driving the demand for reed switch, thereby stimulating the market growth.

Growing automotive production is boosting the demand for reed switches.

In the automotive industry, speedometers are a key component as they provide drivers with real-time information about the speed at which they are traveling. Reed switch plays an important role in the operation of speedometers, as it is used to detect the position of a magnet attached to the vehicle's transmission shaft. Reed switch is ideal for speedometers as it is highly sensitive and can detect even very small changes in magnetic fields. The growing automotive production will boost the usage of speedometers, increasing the demand for reed switches in such applications. According to the Society of Indian Automobile Manufacturers (SIAM), the production of passenger cars increased by 25.41% from 2021 to 2022. According to European Automobile Manufacturers Association (ACEA), in 2021, 79.1 million motor vehicles were produced worldwide, an increase of 1.3% compared to 2020. This demonstrates that reed switches hold a great demand in the future.

The surge in security systems adoption is augmenting the market growth.

Residential, commercial, and industrial customers are adopting security systems, such as intrusion detection systems, access control systems, and surveillance systems, to enhance safety and security. Reed switch is an important component of security systems for detecting the opening or closing of doors and windows, controlling access to restricted areas, and triggering surveillance cameras. It provides reliable and efficient solutions for security system applications, making them a preferred choice for manufacturers. The growing adoption of security systems for safety purposes is boosting the demand for reed switches. According to the U.S. Bureau of Labour Statistics report in 2021, surveillance camera installations grew from 70 million in 2018 to about 85 million cameras in the United States by 2021, an increase of about 21 percent.

The Asia Pacific is expected to hold a significant market share throughout the forecast period.

The Asia Pacific region is expected to dominate the market due to several leading manufacturers of reed switches in countries like China, Japan, and South Korea, the growing automotive industry, and the rising usage of security systems. In August 2021, the Vehicle Scrappage Policy, introduced by Prime Minister Narendra Modi, aims to phase out old, environmentally hazardous vehicles gradually, increasing the production and sales of new automobiles. In June 2020, the Chinese government enacted the National Security Law to safeguard the country's national security, and this policy has provided a significant boost to the security systems industry in China, particularly in the areas of surveillance and monitoring. Such growing developments will accelerate the demand for reed switches, propelling the regional market growth.

Products:

• KOFU Reed Switch ORD611: Such reed switches by Standex Electronics Inc. are miniature reed switch with rated power of 10 W, switching voltage of 200 VDC, and switching current of 0.3 Amp DC, and can be used in applications like automotive, household appliances, control equipment, telecommunications, instrumentation.
• 59045 Series - Miniature PCB Mount Overmolded Reed Switch: The product by Littlefuse Inc. Company is available with customer-defined sensitivity and is capable of switching up to 200Vdc at 10W, which is well suited for position and limit sensing, security, door, and window alarm systems.
• HSR-502R: This reed switch provided by HSI Sensing is the world's smallest Form C reed switch which is lead-free and RoHS compliant and can be used in extended operations in extreme environments.

Market Segmentation:

By Type

• Waterproof Reed Switch
• Electric Reed Switch
• Magnetic Reed Switch
• Others

By Application

• Security Alarms
• Measurement Devices
• Speedometers
• Consumer Electronics
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• UK
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Other