Global Surface Mount Switches Market to Reach $5.9 Billion by 2027
Amid the COVID-19 crisis, the global market for Surface Mount Switches estimated at US$3.7 Billion in the year 2020, is projected to reach a revised size of US$5.9 Billion by 2027, growing at aCAGR of 6.9% over the period 2020-2027. Ultra-Miniature Surface Mount Pushbutton Switch, one of the segments analyzed in the report, is projected to record 7.1% CAGR and reach US$3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ultra-Miniature Surface Mount Toggle Switch segment is readjusted to a revised 6.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 6.4% CAGR
The Surface Mount Switches market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1 Billion by the year 2027 trailing a CAGR of 6.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.5% and 5.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR.We bring years of research experience to this 6th edition of our report. The 184-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others,
- Bourns, Inc.
- C&K Components LLC
- E-Switch, Inc.
- Graver Technologies LLC
- Hokuriku Electric Industry Co., Ltd.
- Honeywell International, Inc.
- NKK Switches Co., Ltd.
- Omron Corporation
- Panasonic Corporation