Market Overview:
The global solenoid switches market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for solenoid switches from various end-use industries, such as manufacturing, power, construction, and others. In addition, the growing awareness about energy efficiency is also propelling the growth of this market. Based on type, the global solenoid switches market can be segmented into 24V solenoid switches, 110 V solenoid switches, 240 V solenoid switches and other types ofsolenoiddswitches.
Product Definition:
A solenoid switch is a type of electrical switch that uses a solenoid to open and close the circuit. Solenoids are essentially electromagnets, and when current is applied, they generate a magnetic field. This field can be used to open or close switches.
24V:
24V is the voltage range that most of the electronic devices use for their operation. It is also known as Volts or V. The Solenoid Switch market size was valued at USD 1,250 million in 2015 and is expected to grow at a CAGR of XX% over the forecast period. 24Volt products are used across various industries such as automotive, construction equipment & machinery, material handling equipment, agricultural machinery and defense among others.
110 V:
The 110 V is a low voltage electricity supply that is used in the electronic devices such as solenoid switches. The 110 V electricity supply range has been considered as best for the electronic devices and can be easily operated by almost all types of equipment.
110V AC to power an electric dryer, which uses approximately 0.25 KW at 60 hertz, will not cause any harm to the appliances or human body; therefore it can be regarded as a safe.
Application Insights:
The manufacturing industry accounted for the largest revenue share of over 40% in 2017. The growing industrialization and urbanization are leading to an increased demand for electric power generation, which is further driving the global solenoid switches market growth. Moreover, increasing focus on automation in manufacturing plants will boost product demand.
Solenoid switch finds application across various industries including oil & gas, construction, power generation and others such as food & beverage processing and medical equipment among others. In addition to being used as a regular switch they can also be used as a momentary contact device or MCU which provides additional functionality such as safety interlocks or circuit breakers when activated thereby avoiding any accidental energization of the system without interrupting production operations at the plant floor level where it matters most-money-timely deliverables with zero defects/costs while improving quality performance and reducing maintenance costs by 50%.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing strong economic growth on account of increasing foreign investments, rising disposable income, and growing industrial activities. China is one of the largest markets for solenoid switches in Asia Pacific due to heavy investments made by various governments for modernization and industrialization.
The Middle East & Africa market is anticipated to grow at a significant rate over the forecast period owing to rapid development taking place across several sectors including oil & gas, manufacturing, construction etc., especially in South Africa and Saudi Arabia. In addition, countries such as UAE are also contributing significantly towards regional growth owing to their flourishing tourism industry which requires 24/7 availability of switchgears for controlling lights & other infrastructure facilities around them. This factor will further boost regional product demand during future years (2018-2030).
Growth Factors:
- Increasing demand for solenoid switches in automotive and industrial applications
- Growing popularity of solenoid switches in renewable energy systems
- Rising demand for miniaturized solenoid switches
- Proliferation of smart grid technologies
- Growing adoption of solenoid switches in medical devices
Scope Of The Report
Report Attributes
Report Details
Report Title
Solenoid Switches Market Research Report
By Type
24V, 110 V, 240V, Other
By Application
Manufacturing Industry, Power Industry, Construction, Other
By Companies
Omron, IDEM Inc, Siemens, Schneider Electric, Schmersal, ABB, KSS, Johnson Electric, Euchner, Telemecanique, Omron, Banner, Pilz, Bernstein Safety, Mecalectro
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
153
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global Solenoid Switches Market Report Segments:
The global Solenoid Switches market is segmented on the basis of:
Types
24V, 110 V, 240V, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Manufacturing Industry, Power Industry, Construction, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Omron
- IDEM Inc
- Siemens
- Schneider Electric
- Schmersal
- ABB
- KSS
- Johnson Electric
- Euchner
- Telemecanique
- Omron
- Banner
- Pilz
- Bernstein Safety
- Mecalectro
Highlights of The Solenoid Switches Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 24V
- 110 V
- 240V
- Other
- By Application:
- Manufacturing Industry
- Power Industry
- Construction
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Solenoid Switches Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A solenoid switch is a type of electrical switch that uses the flow of electric current to control the opening and closing of an electrical circuit. When you press down on a solenoid switch, it causes current to flow through the coil, which in turn opens and closes the contacts inside the switch.
Some of the key players operating in the solenoid switches market are Omron, IDEM Inc, Siemens, Schneider Electric, Schmersal, ABB, KSS, Johnson Electric, Euchner, Telemecanique, Omron, Banner, Pilz, Bernstein Safety, Mecalectro.
The solenoid switches market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Solenoid Switches Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Solenoid Switches Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Solenoid Switches Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Solenoid Switches Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Solenoid Switches Market Size & Forecast, 2018-2028
4.5.1 Solenoid Switches Market Size and Y-o-Y Growth
4.5.2 Solenoid Switches Market Absolute $ Opportunity
Chapter 5 Global Solenoid Switches Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Solenoid Switches Market Size Forecast by Type
5.2.1 24V
5.2.2 110 V
5.2.3 240V
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Solenoid Switches Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Solenoid Switches Market Size Forecast by Applications
6.2.1 Manufacturing Industry
6.2.2 Power Industry
6.2.3 Construction
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Solenoid Switches Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Solenoid Switches Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Solenoid Switches Analysis and Forecast
9.1 Introduction
9.2 North America Solenoid Switches Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Solenoid Switches Market Size Forecast by Type
9.6.1 24V
9.6.2 110 V
9.6.3 240V
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Solenoid Switches Market Size Forecast by Applications
9.10.1 Manufacturing Industry
9.10.2 Power Industry
9.10.3 Construction
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Solenoid Switches Analysis and Forecast
10.1 Introduction
10.2 Europe Solenoid Switches Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Solenoid Switches Market Size Forecast by Type
10.6.1 24V
10.6.2 110 V
10.6.3 240V
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Solenoid Switches Market Size Forecast by Applications
10.10.1 Manufacturing Industry
10.10.2 Power Industry
10.10.3 Construction
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Solenoid Switches Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Solenoid Switches Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Solenoid Switches Market Size Forecast by Type
11.6.1 24V
11.6.2 110 V
11.6.3 240V
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Solenoid Switches Market Size Forecast by Applications
11.10.1 Manufacturing Industry
11.10.2 Power Industry
11.10.3 Construction
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Solenoid Switches Analysis and Forecast
12.1 Introduction
12.2 Latin America Solenoid Switches Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Solenoid Switches Market Size Forecast by Type
12.6.1 24V
12.6.2 110 V
12.6.3 240V
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Solenoid Switches Market Size Forecast by Applications
12.10.1 Manufacturing Industry
12.10.2 Power Industry
12.10.3 Construction
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Solenoid Switches Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Solenoid Switches Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Solenoid Switches Market Size Forecast by Type
13.6.1 24V
13.6.2 110 V
13.6.3 240V
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Solenoid Switches Market Size Forecast by Applications
13.10.1 Manufacturing Industry
13.10.2 Power Industry
13.10.3 Construction
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Solenoid Switches Market: Competitive Dashboard
14.2 Global Solenoid Switches Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Omron
14.3.2 IDEM Inc
14.3.3 Siemens
14.3.4 Schneider Electric
14.3.5 Schmersal
14.3.6 ABB
14.3.7 KSS
14.3.8 Johnson Electric
14.3.9 Euchner
14.3.10 Telemecanique
14.3.11 Omron
14.3.12 Banner
14.3.13 Pilz
14.3.14 Bernstein Safety
14.3.15 Mecalectro
