Market Overview:
The global underwater switches market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for underwater switches in oil and gas, military and defense, telecommunication, and power industries. Additionally, the growing awareness about safety and security is also propelling the growth of this market. However, factors such as high installation cost may restrain the growth of this market during the forecast period. Based on type, limit switches are expected to hold a major share of the global underwater switches market during 2018-2030 owing to their wide usage across various applications such as oil and gas industry, military and defense sector etc.
Product Definition:
Underwater Switches are switches that are designed to be installed underwater. They are typically used in applications where there is a need to control water flow or activate equipment remotely.
Limit Switches:
A limit switch is a safety device used to protect equipment from damage. It consists of two metal plates, normally closed by a stem and normally open by an elbow. When the force applied to the elbow is greater than or equal to the force applied to the stem, then it trips a mechanism causing an electrical connection between terminals and interrupting current flow through switches.
Proximity Switches:
Proximity switches are electronic devices used to remotely operate equipment or machinery. They are mainly used in the oil & gas industry for controlling processes such as flow, injection and pressure control. The device works on the principle of magnetic attraction and is usually installed in proximity to the machine part which needs to be operated.
Application Insights:
Oil and gas emerged as the dominant application segment in terms of revenue share in 2017. The underwater switches market is witnessing significant growth due to rising demand for oil and gas from various end-use industries including transportation, power generation, manufacturing, etc. Limit switches are used to prevent overfilling of pipelines or tanks which may lead to leakage or accidents. Proximity switches are used for turning on/off valves based on the position of vessels at a certain distance away from each other thus avoiding collision when they approach each other closely while moving through narrow channels.
Telecommunication emerged as another prominent application segment with a revenue share of 15% in 2017 owing to extensive use underwater cables across harbors, canals and waterways around the world for data transmission purposes thus making them prone to damage if not installed correctly resulting in increased demand for telecommunication under water installations worldwide over the forecast period.
Regional Analysis:
Asia Pacific dominated the global underwater switches market in 2016 and is expected to continue its dominance over the forecast period. The region accounted for a revenue share of more than 35% in 2016 owing to increasing demand from oil and gas, military and defense, water management, telecommunication industries. China is one of the major countries investing heavily in undersea cables as these cables help transfer large amounts of data very quickly; this has led to an increase in investments by Chinese companies such as Huawei Technologies Co., Ltd., Zhejiang Geely Holdings Limited, China Telecom Corporation Limited (CTC) among others.
Europe underwater switch market was valued at USD X million in 2016 owing to growing demand from oil and gas industry for drilling operations that involve long cable runs below water surface. North America also contributed significantly towards growth of global underwater switches market due to presence of telecommunication companies such as AT&T Inc.; Verizon Communications Inc.; Bell Canada; Telus Corp.
Growth Factors:
- Increasing demand for automation in various industries
- Rising demand for energy-efficient and eco-friendly devices
- Growing popularity of underwater switches in smart homes and buildings
- Proliferation of Internet of Things (IoT) and connected devices
- Advances in switch technology
Scope Of The Report
Report Attributes
Report Details
Report Title
Underwater Switches Market Research Report
By Type
Limit Switches, Proximity Switches
By Application
Oil and Gas, Military and Defense, Telecommunication, Power Industry
By Companies
SEACON, Hydracon Subsea, Baran Advanced Technologies, Global Ocean Design, Shinyang Technology, NKK Switches, Aquatec Group, Euroswitch
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
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Underwater Switches Market Report Segments:
The global Underwater Switches market is segmented on the basis of:
Types
Limit Switches, Proximity Switches
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
Oil and Gas, Military and Defense, Telecommunication, Power Industry
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:
- SEACON
- Hydracon Subsea
- Baran Advanced Technologies
- Global Ocean Design
- Shinyang Technology
- NKK Switches
- Aquatec Group
- Euroswitch
Highlights of The Underwater 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:
- Limit Switches
- Proximity Switches
- By Application:
- Oil and Gas
- Military and Defense
- Telecommunication
- Power Industry
- 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 Underwater 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
- Identifying Appropriate Advertising Appeals
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?
Underwater switches are devices that can be used to remotely control underwater vehicles. They are typically installed in areas where there is a high risk of collision with marine life, such as around oil rigs and other industrial sites.
Some of the major companies in the underwater switches market are SEACON, Hydracon Subsea, Baran Advanced Technologies, Global Ocean Design, Shinyang Technology, NKK Switches, Aquatec Group, Euroswitch.
The underwater switches market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Underwater 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 Underwater Switches Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Underwater 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 Underwater 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 Underwater Switches Market Size & Forecast, 2020-2028
4.5.1 Underwater Switches Market Size and Y-o-Y Growth
4.5.2 Underwater Switches Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Limit Switches
5.2.2 Proximity Switches
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Oil and Gas
6.2.2 Military and Defense
6.2.3 Telecommunication
6.2.4 Power Industry
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Underwater 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 Underwater 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Limit Switches
9.6.2 Proximity Switches
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 Market Size Forecast by Applications
9.10.1 Oil and Gas
9.10.2 Military and Defense
9.10.3 Telecommunication
9.10.4 Power Industry
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Limit Switches
10.6.2 Proximity Switches
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 Market Size Forecast by Applications
10.10.1 Oil and Gas
10.10.2 Military and Defense
10.10.3 Telecommunication
10.10.4 Power Industry
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Limit Switches
11.6.2 Proximity Switches
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 Market Size Forecast by Applications
11.10.1 Oil and Gas
11.10.2 Military and Defense
11.10.3 Telecommunication
11.10.4 Power Industry
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Limit Switches
12.6.2 Proximity Switches
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 Market Size Forecast by Applications
12.10.1 Oil and Gas
12.10.2 Military and Defense
12.10.3 Telecommunication
12.10.4 Power Industry
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Limit Switches
13.6.2 Proximity Switches
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) Market Size Forecast by Applications
13.10.1 Oil and Gas
13.10.2 Military and Defense
13.10.3 Telecommunication
13.10.4 Power Industry
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 Underwater Switches Market: Competitive Dashboard
14.2 Global Underwater Switches Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SEACON
14.3.2 Hydracon Subsea
14.3.3 Baran Advanced Technologies
14.3.4 Global Ocean Design
14.3.5 Shinyang Technology
14.3.6 NKK Switches
14.3.7 Aquatec Group
14.3.8 Euroswitch
