In 2017, it was worth a US$ 330 Mn. Increasing at a growth rate of over 3.42%, the sales of control foot switches reached 2.27 M Units in 2017, improving from 1.98 M Units achieved in 2013.
Raw material costs are a key variable that influence the performance of manufacturers as per the price trend analysis provided in the report.
Global Control Foot Switches Market: Drivers and Restraints
Control foot switches are used in a number of applications such as riveting presses, riveting machines, wrapping machines, machine tools, spinning lathes, spinning machines, and shearing machines. End users are usually offered with a wide range of products in the global control foot switches market.
Advancement in technology is envisaged to open up new opportunities in the global control foot switches market. It triggers the launch of new products in the market as manufacturers increase the adoption of advanced technology.
Availability of advanced features such as safety lock plus manual release, AS-Interface connection, emergency stop button, increased degree of protection (IP 67), hinged protective shroud, and bistable switching are foretold to augment the demand in the global control foot switches market.
However, the cost of expensive products is predicted to slightly restrict the growth of the global control foot switches market.
Global Control Foot Switches Market: Forecast by Product and Application
On the basis of type of product, the global control foot switches market is classified into triple-pedal, double-pedal, and single-pedal.
By application, the global control foot switches market sees a classification into medical, commercial, industrial, and others.
The report provides thorough analysis of all the segments of the global control foot switches market mentioned above.
Global Control Foot Switches Market: Forecast by Region
The research analysts have offered deep insights into the regional growth of the control foot switches market. According to the report, Europe was the leading market for control foot switches in terms of consumption. In 2016, it accounted for a close to 37.86% of the global consumption by revenue.
While other markets collected a small share of the total consumption in 2017, North America, Europe, and Asia Pacific secured larger shares, i.e. 26.81%, 28.91%, and 38.38% respectively.
In terms of revenue, Europe ranks first and also takes the leading position in the global control foot switches market.
Global Control Foot Switches Market: Key Players
The global control foot switches market is relatively concentrated, according to the industry structure analysis provided in the report. There are different types of players operating in the market, from large multinational to small, privately-owned companies. On the basis of revenue, 60.00% of the market was accounted for by the top five manufacturers of control foot switches.
Some of the leading players profiled in the report are Siemens, Marquardt, Linemaster, Stryker, and Schneider Electric.
Full Report Overview@ https://www.qyresearch.com/index/detail/207442/global-control-foot-switches-sales-market