ALBANY, N.Y., Dec. 16, 2021 /PRNewswire/ — Transparency Market Research, New York
Rocker Switch Market: Overview
The expanding applications of rocker switches in display monitors, surge protectors, and computer power supplies, and consistent efforts of manufacturers to develop innovative products and designs are key factors boosting business opportunities in the global rocker switch market. The popularity of rocker switches is increasing, owing to their multi-position and multi-pole functionalities. Companies are developing more dependable rocker switches to attract more customers.
The analysts at Transparency Market Research (TMR) note that the surge in the sales of commercial vehicles globally is projected to generate remarkable demand opportunities in the rocker switch market. Hence, the market is estimated to expand at a CAGR of 3.4% during the forecast period from 2021 to 2031.
The TMR study highlights that market players are likely to witness value-grab opportunities in Asia Pacific in the forthcoming years due to increase in investments by regional government authorities in the development of electric vehicle infrastructure. Moreover, the surge in automotive applications of rocker switches is ensuring profitable prospects for market players in the Asia Pacific region.
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Rocker Switch Market: Key Findings
- Increase in Adoption of Electric Vehicles Creates Attractive Business Avenues for Market Players
Due to the eco-friendly and cost-effective nature of electric vehicles, there is a notable growth in their adoption across the globe. Moreover, the lightweight feature of rocker switches and the unique style are boosting the use of rocker switches in electric vehicles. As a result, companies operating in the rocker switch market are experiencing notable business opportunities. Furthermore, in initiatives by governments of several nations to encourage the use of electric vehicles is expected to fuel the sales of rocker switches in the years ahead.
- Surge in Sales of Commercial Vehicles Fuels Demand for Dust-proof Rocker Switches
Generally, commercial vehicles are used for long-distance travelling, which may create problems in components due to dust. In order to avoid such issues, many commercial vehicle manufacturers are increasing the use of dust-proof rocker switches, which provide protective casing connected without screws. The dust-proof structure does not allow dust to enter the switches. Moreover, these are wider, broader, and easy-to-operate two-pin switches.
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Rocker Switch Market: Growth Boosters
- Growth in demand for rocker switches, such as heated seat switches, power door lock switch, power window controls, and rear window defogger grids, across various automobile systems due to their easy operation is expected to offer lucrative prospects to the players in the global rocker switch market
- Automobile manufacturers are preferring rocker switches to conventional gear sticks, thereby boosting market expansion
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Rocker Switch Market: Competition Landscape
- In order to maintain a leading position in the market for rocker switches, several manufacturers are focusing on new product launch activities. Besides, many players are increasing efforts to advance the quality of products they offer.
- Major players in the global rocker switch market are using the strategy of acquiring their competitors in order to lessen the competition and gain major market share
Rocker Switch Market: Key Players
Some of the players profiled in the rocker switch market are:
- Omron Corporation.
- ABB, Ltd.
- Eaton Corporation
- TE Connectivity
- Emerson Electric Co.
- Honeywell International Inc.
- Sensata Technologies, Inc.
- Carling Technologies
- Everel Group S.p.A.
- Leviton Manufacturing Co. Inc.
- OTTO Engineering Inc
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Global Rocker Switch Market: Segmentation
Rocker Switch Market, by Type
- Single-pole Rocker Switch
- Multi-pole Rocker Switch
Rocker Switch Market, by Application
- Automotive (Commercial Vehicles and Passenger Vehicles)
- Aerospace
- Heating, Ventilation, and Air conditioning (HVAC)
- Instrumentation
- Printers
- Vending Machines
- Others
Rocker Switch Market, by Region
- North America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- South America
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