Global Automotive Oil Pressure Switch Market: Introduction
The automotive oil pressure switch is designed to measure the integrity of the lubrication system of the engine. The oil pressure switch reflects all the changes in engine oil pressure, on the dashboard of the vehicle via oil pressure gauge or light. Therefore, when the oil pressure fall below the critical pressure within the engine will be displayed to the driver. Hence, the damage caused to the engine can be prevented and also helps in enhancing the overall life of the vehicle. This implies that automotive oil pressure switch is the most important component used in an automobile for safety application. Furthermore, with the increasing production of automobiles owing to continuously rising demand is projected to support the growth of automotive oil pressure switch market during the forecast period.
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Global Automotive Oil Pressure Switch Market: Dynamics
Sales of automotive oil pressure switch is directly dependent on automotive production and continuously increasing vehicle parc. The automotive industry in the recent past has witnessed moderated growth owing to unstable economic condition of the market. Although, the automotive production is further expected to increase at a modest CAGR of 3% – 3.5% in the coming future. The production trends varies for region to region, will be higher in emerging countries when compared with developed economies. This can be attributed to rapid urbanization and stable economic conditions of the respective region. Moreover, with the continuously addition of the new fleet of vehicles ever year, the aftermarket of automotive oil pressure switch is also going to witness marginal growth opportunities during the forecast period.
Global Automotive Oil Pressure Switch Market: Segmentation
Global automotive oil pressure Switch market can be segmented on the basis of product type, type, diaphragm material, vehicle type, sales channel and region.
On the basis of product type, the global automotive oil pressure switch market is segmented as:
- Normally Open Type (NO)
- Normally Closed Type (NC)
- Normally Open & Closed Types (NOC)
On the basis of type, the global automotive oil pressure switch market is segmented as:
- Pre Adjusted Type
- Adjustable Type
On the basis of diaphragm material, the global automotive oil pressure switch market is segmented as:
On the basis of vehicle type, the global automotive oil pressure switch market is segmented as:
- Passenger Car
- Light Commercial Vehicles
- Heavy Commercial Vehicles
On the basis of sales channel, the global automotive oil pressure switch market is segmented as:
- Original Equipment Manufacturer (OEM)
Global Automotive Oil Pressure Switch Market: Regional Outlook
Globally, the automotive industry is predominately dominated by Asia Pacific region. The region is holding significant shares in the global automotive oil pressure switch market. Additionally, the region is also projected to grow with healthy pace and maintain its prominence throughout the projected period of time. The significant increase in the population of the region mainly of China and India is creating new demand for automobiles every year, making the automotive oil pressure switch market lucrative in the region. Furthermore, the presence of leading manufacturers of automobiles in the European region is making the region to hold noteworthy share in the global automotive oil pressure switch market. Germany to lead the overall demand for automotive oil pressure switch in the European market. The market in Latin America is also anticipated to hold significant potential owing to the positive outlook of the automotive market of Brazil. Therefore, Brazil to drive and holds healthy share in the Latin America automotive oil pressure switch market in the future.
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Global Automotive Oil Pressure Switch Market: Market Participants
In the global market of automotive pressure switch market, there are significant number of manufacturers present in the market across the globe. Moreover, the list of some of the manufacturers engaged in the production and sales of automotive oil pressure switch are mentioned below:
- Amphenol Advanced Sensors
- Francisco Albero S.A.U.
- Bitron Industrie S.p.A
- Standard Motor Products, Inc.
- Tecmark Corporation
- Pressure Switches, Inc.