The market for rotary limit switches is expected to reach US$ 900 million by the end of 2023, according to Future Market Insights. The market for rotary limit switches is predicted to grow at a 6.6% CAGR to $1,700 million in 2033.
According to a research study, the Rotary Limit Switches market is set to witness a steady and a healthy growth during 2021 to 2031 with a CAGR of 5% to 6%. An increase in demand from heavy duty lifting applications from the construction, automation and other industrial purposes is expected to contribute towards the growth of the market.
What is Primarily Driving Demand for the Product
Rotary limit switches are essential in heavy-duty lifting applications. They also aid with the smooth movement of industrial equipment. Its autonomous operation helps to reduce staff costs while also improving operational efficiency at the site of operations, both of which are major drivers of market growth.
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Furthermore, the market is expected to benefit from increased demand from the construction and heavy machinery industries. With industrial automation infiltrating all manufacturing verticals to varying degrees now and in the coming years. Rotating limit switches will become an essential component of control system hardware, allowing market participants to maintain a healthy sales rate.
Growing Demand from Construction and Automation Industry to Boost the Sales of Rotary Limit Switches
Rotary Limit Switches are used particularly in the construction and industrial lifting plants to control gantry cranes, jib cranes, track cranes, wall – mounted jib cranes and in winches for construction sites.
The product is used to command and control systems to manage various processes and machines, thereby reducing the chance for human intervention and the equipment needed to move stage sets or curtains.
It is used on wind turbines to manage and control the pitch angle of the blades and the position of the yaw control.
How is Asia Pacific an Attractive Region for The Growth of the Rotary Limit Switches Market
India and China are expected to register a higher growth of the market due to the high growth of urbanization and rapid industrialization. The region can attribute to a strong growth due to rising construction activities emerging economies. A shift in trend towards automation in the construction would increase sales of rotary limit switches in the region.
U.S.A. – A lucrative Country for higher Sales
The construction industry is a major contributor to the U.S. economy. Demand for construction services has bolstered in the country due to favorable macroeconomic conditions, increasing disposable income, increased access to credit and relatively low interest rates.
The construction sectors growth in the US is driven by improvements in the nonresidential construction, with infrastructure and commercial construction subsectors propelling overall sector expansion.
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Key Players:
Some of the leading manufacturers and suppliers of Rotary Limit Switches include
- NOOK Industries, Inc.
- Hubbell
- Altra Industrial Motion Corp
- Giovenzana International B.V.
- AMETEK Inc
- TER Tecno Elettrica Ravasi srl
- Micronor Inc.
- Omega Controls Private Limited
- Schneider Electric amongst others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. T
he report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Key Segments
By Type:
- Gear Type
- Encoded Type
By Application Type:
- Hoisting Apparatus
- Wind Turbines
By End Use Industry:
- Automation
- Construction
- Stage Technology
- Industrial & Others
- Power Generation (Solar & Wind)
By Region:
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- BENELUX
- Russia
- Rest of Europe
- South Asia and Pacific
- India
- ASEAN
- ANZ
- Rest of South Asia and Pacific
- East Asia
- China
- Japan
- South Korea
- Middle East and Africa
- GCC Countries
- Turkey
- Northern Africa
- South Africa
- Rest of Middle East and Africa
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Rotary Limit Switches Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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