Global Push Button Switches Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Push Button Switches Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A push button is a simple type of switch that controls an action in a machine or some type of process. Most of the time, the buttons are plastic or metal. The shape of the push button may conform to fingers or hands for easy use, or they may simply be flat.

Market Overview:

The latest research study on the global Push Button Switches market finds that the global Push Button Switches market reached a value of USD 918.03 million in 2022. It’s expected that the market will achieve USD 1016.04 million by 2028, exhibiting a CAGR of 1.71% during the forecast period.

Influence of COVID-19 Outbreak on Push Button Switches Industry Development

The new crown epidemic continued to spread until September. According to the latest statistics of the WHO, there were 292,000 new cases in one day around the world, setting a new record. Therefore, epidemic prevention and control work continues on a global scale to prevent secondary epidemics from repeatedly causing greater harm. The epidemic prevention and control measures will affect the flow of people and activities, and then affect the logistics, making the production of Push Button Switches manufacturing industry suffer due to the supply of raw materials and insufficient labor.
The epidemic will promote the automation and flexible production of push button switches industry. Enterprises in the industry will tend to hire more high-tech talents and high-skilled, multi-skilled composite workers, reduce dependence on labor, and better cope with labor volatility can also reduce labor costs in the industry. At the same time, a large number of companies in the push button switches industry will pay more attention to the standardization of parts, intelligent logistics, and strengthening the anti-risk ability of the supply chain will also receive more and more attention, so as to establish a more stable production and transportation line.
First, economic activity in global continues to shrink. Affected by the spread of COVID-19, the economic indicators of the world in the first half of 2020 have been weak. The comprehensive PMI, which reflects the overall economic activity worldwide, hit record lows one after another. A large number of industries have turned to the government for assistance, stating that if there is no government bailout, more than 50% of the companies in the industry will face bankruptcy. Influencing the development of the push button switches industry on the manufacturing side.
Secondly, unemployment rates in more than two-thirds of global countries have increased and employment risks have increased. The large-scale outbreak of the epidemic and the suspension of economic activities have caused the unemployment rate worldwide to rebound again, and the youth unemployment rate has risen particularly rapidly. Obviously, if the economic shutdown continues, and rising unemployment in the region accelerates, so push button switches enterprises on a smaller scale are bound to be unsustainable. It will do a huge impact on the downstream market of the push button switches industry.

The Performance of Alternative Product Type is Getting Better and Better

With economic development and social progress, the development trend of manufacturing is very rapid. The advent of higher-tech actuators such as sensors and touch screen technology has led to the threat of substitutes for push button switches. For example, when the sensor detects that the light is dim, the sensor automatically informs the system, and the system informs the switch to turn on the light after the judgment is completed, and the light switch is the actuator, and no human control is required in this process. Compared with the push button switches, these switches are more efficient and precise in operation, thus limiting the growth of the market.
Nowadays, tactile switches have been widely used in society, and they are the replacement products of traditional button switches. Compared with traditional switches, tactile switches are more convenient to operate, beautiful in appearance, long service life, and more and more popular. The essential components in electronic products include switches. With the continuous development of electronic products, the market penetration rate of electronic products is getting higher and higher. The increase in the use of electronic products has increased the demand for the tactile switch market.

Region Overview:

From 2023-2028, China is estimated to witness robust growth prospects.

Company Overview:

The top three companies are ALPS, Panasonic, and Carling Technologies with the revenue market share of 9.31%, 7.02% and 3.58% in 2019.

ALPS

Electronic Components Business, engaged in perfecting the art of electronics through its electronic components, and mobility life creator Automotive Infotainment Business head a global network of 100 group companies that include Alps Logistics, a provider of integrated logistics services specializing in electronic components.

Panasonic Corporation manufactures electric and electronic products. The Company produces home appliances, car navigation systems, digital devices, computer peripherals, telecommunications, industrial equipment, and electronic parts. Panasonic has associated companies around the world.

Segmentation Overview:

Among different product types, Plastics Push Button Switches segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Commercial segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Push Button Switches market covered in Chapter 3:

Bourns
Carling Technologies
Kaihua Electronics
Marquardt
ABB
Siemens
ALPS
Utility Electrical
APEM
Panasonic
C&K Components
Omron
Molex
Jialong Electron
OTTO
Eaton
TE Connectivity
NKK Switches
Littelfuse
Schurter

In Chapter 4 and Chapter 14.2, on the basis of types, the Push Button Switches market from 2018 to 2029 is primarily split into:

Metal Push Button Switches
Plastics Push Button Switches

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Push Button Switches market from 2018 to 2029 covers:

Residential
Commercial
Industrial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)