The global magnetic reed switch Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 12.0% during the review period (2022 to 2027)
The reed switch is an electrical switch operated by an applied magnetic field. It covers a pair (or more) of magnetizable, flexible, metal reeds whose end portions are separated by a small gap. The reeds are hermetically sealed in opposite ends of a tubular glass envelope. The two ferrous materials inside the switch pull together when exposed to a magnetic field and hence completing the circuit.Reliability and durability are challenges for reed switch users. Reed switches have numerous inherent disadvantages, including susceptibility to breakage issues during installation and its susceptibility to shock or vibration applications, lower durability, a limited life due to the mechanical nature of the switch, as well as issues due to the contact bounce. When leads on the reed switches are soldered into the circuit, they bend significantly, which can easily crack the glass enclosure of the switch, making the switch unusable. Therefore, reed switch manufacturers carefully provide specific installation instructions, in order to limit this breakage.Reed Switch have been used as an effective passive safety system to alert the driver. Reed Switch for early brake sensing is one of the major and common usages of automotive reed Switch as mechanisms to alert drivers about possible collision or accident, during the application of brakes.
Industry News
February 2017, Standex Electronics, Inc., a U.S.-based reed switch device manufacturing company, acquired Oki Sensor Device Corporation, a Japan-based electronic components manufacturing company. Through this acquisition, Standex Electronics, Inc. could expand its presence in the Asia Pacific market.
Top Key players in the Magnetic Reed Switch Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Magnetic Reed Switch Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Standex, Nippon Aleph, RMCIP, Littelfuse, Coto Technology, HSI Sensing, Comus International, PIC, PIT-RADWAR, Misensor, STG and others.
Global Magnetic Reed Switch Market research provides a detailed Analytical Insights of global market size, regional and country-level scope, segmentation wise growth, global share, Competition Scenario, sales analysis, impact global market players on domestic players, value chain optimization, trade regulations, Latest developments, future opportunities, product launches, expanding marketplaces, and New technological innovations.
Magnetic Reed Switch Market is segmented based on the type, applications, companies and regions.
By Type, it is segmented int
By Applications it is segmented into
The growing automobile sector in the Asia-Pacific region, with India and China emerging as automotive part manufacture hubs for the western automobile giants, is expected to drive the market for reed switches in this region.Over the past couple of years, the reed switch market in the Asia-Pacific region had grown rapidly, with a global share of around 35%, followed by North America and Europe. In a nutshell, automobile manufacturers are now focusing on sourcing more reliable sensors, like the reed switches that are also economically feasible.
The report offers in-depth assessment of the growth and other aspects of the Magnetic Reed Switch Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
Report Attributes | Report Details |
Report Title | Magnetic Reed Switch Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Standex, Nippon Aleph, RMCIP, Littelfuse |
Forecast Period 2022 to 2027 CAGR | CAGR of 12.0% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | Standex, Nippon Aleph, RMCIP, Littelfuse, Coto Technology, HSI Sensing, Comus International, PIC, PIT-RADWAR, Misensor, STG and others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 115 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Magnetic Reed Switch Market is studied from 2017 - 2027.
What is the growth rate of Magnetic Reed Switch Market?
The Magnetic Reed Switch Market is growing at a CAGR of 12.0% over the next 5 years.
What regions does this Magnetic Reed Switch Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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