Global Reed Switch Device Market Growth 2023-2029

Global Reed Switch Device Market Growth 2023-2029

Reed Switch Device consists of a pair of ferromagnetic reeds, which overlap at their free ends (contact area) at a very small distance and are hermetically sealed in a glass tube. When in the presence of a magnetic field, the reeds become magnetized to opposite polarity, thus attracting each other and closing contact. Like many other great inventions, reed switches were born at Bell Laboratories, invented there in the mid-1930s by Walter B. Elwood. Today, reed switches are still in common uses.

LPI (LP Information)' newest research report, the “Reed Switch Device Industry Forecast” looks at past sales and reviews total world Reed Switch Device sales in 2022, providing a comprehensive analysis by region and market sector of projected Reed Switch Device sales for 2023 through 2029. With Reed Switch Device sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Reed Switch Device industry.

This Insight Report provides a comprehensive analysis of the global Reed Switch Device landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Reed Switch Device portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Reed Switch Device market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Reed Switch Device and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Reed Switch Device.

The global Reed Switch Device market size is projected to grow from US$ 308.1 million in 2022 to US$ 571.8 million in 2029; it is expected to grow at a CAGR of 571.8 from 2023 to 2029.

Global Reed Switch Device key players include OKI, Littelfuse (Hamlin), RMCIP, Standex-Meder, etc. Global top four manufacturers hold a share over 60%.

Japan is the largest market, with a share about 50%, followed by China, and Europe, both have a share over 30 percent.

In terms of product, Form A is the largest segment, with a share over 60%. And in terms of application, the largest application is Reed Relays, followed by Magnetic Sensors.

This report presents a comprehensive overview, market shares, and growth opportunities of Reed Switch Device market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Form A

Form B

Form C

Other

Segmentation by application

Reed Relays

Magnetic Sensors

Other

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

OKI

Littelfuse (Hamlin)

RMCIP

Standex-Meder

Nippon Aleph

HSI Sensing

Coto

PIT-RADWAR

PIC

STG

Harbin Electric Group

Zhejiang Xurui

Key Questions Addressed in this Report

What is the 10-year outlook for the global Reed Switch Device market?

What factors are driving Reed Switch Device market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Reed Switch Device market opportunities vary by end market size?

How does Reed Switch Device break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.