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Keylock Switches Market By Product Type (Compensating, Semi-Oscillating, Fully-Oscillating), By Material (Steel, Aluminum, Others), By Operation (Hydraulic, Pneumatic, Mechanical), By Capacity (Below 20 Tons, 21 Tons To 44 Tons, 45 Tons & Above) - Growth, Future Prospects, And Competitive Landscape, 2019 - 2027

Paradigm Shift in the Manufacturing Industry and Automation of Production Equipment Is Driving the Keylock Switches Market

Globally, the keylock switches market is expected to grow with a CAGR of 4.0% during the forecast period from 2019 to 2027. The keylock switches are ideally used to manage the safety of industrial environments with utmost simplicity. Factors such as the increasing importance of operational efficiency, equipment and machinery safety, and production equipment automation are driving the growth of the keylock switches market. Also, companies operating in this field are developing new and innovative products that are adding to the existing product line.

Furthermore, technological advancements and increasing demand for keylock switches in the manufacturing plants comprising heavy machinery are also enhancing the growth of this market. Moreover, the increasing range of end-use applications, miniaturization of devices, and extraordinary demand for safer equipment are fueling this market's growth. However, the availability of alternative low-cost options is expected to restrain the growth of the keylock switches market during the forecast period.

Market Synopsis

Double-Pole Switch Segment Dominated the Global Market

In 2018, the double-pole keylock switch led the keylock switches market by holding a market share of over 60%. The double-pole keylock switches offer low-cost key-operated security in contradiction to unplanned or unauthorized access. The industrial applications of double-pole keylock switches are increasing rapidly based on the growing industrial sector. The importance of safety and security is high in the end-use industries and, thus, is expected to drive the growth of the keylock switches market during the forecast period.

North America to Dominate the Market by Region

North America held the largest market share of more than 38% in the global keylock switches market in 2018. Increasing developments in the consumer electronics and appliances industry and telecommunication industry in this region are fueling the growth of this market. However, developing regions such as China, Brazil, and India offers numerous growth opportunities for the key players based on technological advancements, and the developing manufacturing sector. This is projected to enhance the market in the Asia-Pacific region.

Some of the prominent players operating in the keylock switches market include TE Connectivity, CWT, C&K, E-Switch, Grayhill Inc., Crouzet, CTS Electronic Components, Apem (IDEC), Omron, Wurth Electronics, NKK Switch, Nidec Copal Electronics, Hartmann, ALPS, and ITW Group.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The keylock switches market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global keylock switches market based on type, application, and geography. Key segments covered in the report are as follows:

Segmentation Type Segment (2017–2027; US$ Bn)

  •   Single-Pole Keylock Switch
  •   Double-Pole Keylock Switch

Application Segment (2017–2027; US$ Bn)

  •  Consumer Electronics and Appliance
  •  Telecommunications
  •  Industrial and Medical
  •  Others

Geography Segment (2017–2027; US$ Bn)

  •  North America (the U.S., Rest of North America)
  •  Europe (U.K., Germany, France, Rest of Europe)
  •  Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  •  Rest of the World (the Middle East & Africa, Latin America)

Unique data points of this report

  • Statistics on keylock switches penetration and spending worldwide
  • Recent trends across different regions in terms of adoption of keylock switches for various applications.
  • Notable developments going on in the keylock switches market
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

Frequently asked questions :

The market for Keylock Switches Market is expected to reach US$ XX Bn in 2027.

The Keylock Switches Market is expected to see significant CAGR growth over the coming years, at 4.0%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

SAF Holland, JOST Werke AG, Guangdong Fuwa Engineering Group Co., Ltd., Sohshin Co. Ltd., Zhenjiang Baohua Semi-Trailer Parts Co. Ltd, Fontaine Fifth Wheel are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Oct 2019
Category:  Consumer Goods
Report ID:   59983
Report Format:   PDF
Pages:   120
Rating:    4.4 (56)
Delivery Time: 24 Hours to 48 Hours   
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