Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

A reed switch is made up of two ferromagnetic blades, which is hermetically sealed in the glass tube filled with inert gas such as nitrogen, to reduce blade corrosion. These blades are provided with some physical gap in between and can be closed using suitable magnetic force that is made from permanent magnet. In order to increase the shelf life of blades, it is coated with rhodium or ruthenium. Furthermore, reed switch provides benefits such as simple construction and longer life operations, reed switches are adopted in various industries including electronics & communications, automotive, security, robotics & automation, and others.

The global reed switch device market was valued at US$ 234.7 Mn in 2019 and is expected to exhibit a CAGR of 9.2% during the forecast period (2020-2027).

Market Dynamics- Drivers

The increasing demand for reed switch devices in electric vehicles is expected to drive growth of the global reed switch device market during the forecast period

Reed switch devices are used in automobile industry at all levels from diesel engine cars to electric powered vehicles. Reed switches perform well in all parts of a vehicle, including breaking system, ignition system, emission control and monitoring system, and others. In electric and hybrid vehicles, it is used in charging systems and others.

In the recent past, the demand for electrical vehicles have been increasing, owing to the advancements in battery technology. For instance, according to Coherent Market Insights’ analysis, the global electrical vehicle market is expected to exhibit a CAGR of 22.3% during the forecast period. Thus, increasing demand for electric vehicles will drive demand for reed switch devices during the forecast period.

Statistics:

Asia Pacific held dominant position in the global reed switch device market in 2019, accounting for 37.2% share in terms of value, followed by North America, Europe, Latin America, and MEA.

Figure 1: Global Reed Switch Device Market Share (%), By Region, 2019

Reed Switch Device  | Coherent Market Insights

Market Restraints

Development of advanced technologies is expected to restrain growth of the global reed switch device market during the forecast period

Reed switch was developed in the Bell Telephone Laboratories, U.S., in 1936. Till date, it is being used in various industries as a cost-effective option for position detection. However, in the recent past, technologies such as AMR sensor have been developed, which may replace the reed switch in the near future. For instance, currently available AMR sensors in the market can provide same sensitivity as provided by reed switch, however, size of the AMR sensor drastically is reduced. Due to small size, AMR sensor can reduce the overall size of the device. Thus, development of advanced technologies is expected to restrain growth of the global reed switch device market during the forecast period.

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Reed Switch Device Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 234.7 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 9.2% 2027 Value Projection: US$ 474.3 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, Israel, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Product Type: Normally Open (A-Type), Normally Closed (B-Type), Changeover (C-Type).
  • By Application: Reed Relays, Magnetic Sensors.
  • By Distribution Channel: Direct Sales, Distributor.
  • By Industry Vertical: Electronics & Communications, Automotive, Security, Robotics & Automation, Marine & Weather, Internet of Things (IoT), Others.
  • By Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Companies covered:

Littelfuse, Inc., RMCIP, Standex Electronics, Inc., Nippon Aleph, HSI Sensing, Inc., Coto Technology USA, PIT-RADWAR S.A., PIC GmbH, STG Germany GmbH, Harbin Electric Group, Zhejiang Xurui, Zippy Technology Corp., Honeywell International Inc., and Molex Incorporated.

Growth Drivers:
  • The increasing demand for reed switch devices in electric vehicles
  • The increasing demand for solar devices
Restraints & Challenges:
  • Operating imitations of reed switch devices
  • Development of advanced technologies

Market Opportunities

Adoption of reed switch devices for smart devices is expected to create lucrative growth opportunities for market players in the global reed switch device market

Smart devices use a combination of software and hardware to improve the quality of living, various devices being used to provide services and reduce human interaction, thereby reducing the human effort. These devices also collect data, which further improves the device performance. Reed sensors are largely adopted in these devices, as reed sensors can perform various operations by consuming very less power. For instance, reed switch can perform extreme electric fluctuating tasks with the use of few fempto- amps. Furthermore, reed switch can be used in humid and explosive environment with temperature ranging from -50 °C up to 200 °C. The demand for smart devices is increasing. According to Coherent Market Insights’ analysis, the global smart devices market is expected to exhibit a CAGR of 16.2% during the forecast period. Therefore, increasing demand for reed sensors for use in smart devices is expected to create lucrative growth opportunity to the market key players.

Figure 2: Global Reed Switch Device Market Value (US$ Mn), 2017 - 2027

Reed Switch Device  | Coherent Market Insights

The global reed switch device market was valued at US$ 234.7 Mn in 2019 and is expected to reach a value of US$ 474.3 Mn by 2027 at a CAGR of 9.2% between 2020 and 2027.

Global Reed Switch Device Market- Impact of Coronavirus (Covid-19) Pandemic

According to Coherent Market Insights’ analysis, the impact of coronavirus (COVID-19) pandemic on the reed switch device market is moderate. Due to lockdown in countries such as China and India, supply chain is mainly disturbed. Reed switches are largely used in the automation and robotics industry. Due to coronavirus (COVID-19) pandemic, manufacturing industries are shifting toward automation and robotics, which will further increase the demand of reed switch devices in the manufacturing industry.

Competitive Landscape

Key companies operating in the global reed switch device market include Littelfuse, Inc., RMCIP, Standex Electronics, Inc., Nippon Aleph, HSI Sensing, Inc., Coto Technology USA, PIT-RADWAR S.A., PIC GmbH, STG Germany GmbH, Harbin Electric Group, Zhejiang Xurui, Zippy Technology Corp., Honeywell International Inc., Molex Incorporated, and others.

These key market players are focusing on research and development of new products to capture new markets.

Key Developments

  • Key companies in the market are focused on acquisition, in order to gain a competitive edge in the market. For instance, in February 2017, Standex Electronics, Inc., a U.S.-based reed switch device manufacturing company, acquired Oki Sensor Device Corporation, a Japan-based electronic components manufacturing company. Through this acquisition, Standex Electronics, Inc. could expand its presence in the Asia Pacific market.
  • Key manufacturers are focused on launching new products, in order to enhance their product portfolio. For instance, in March 2020, Pickering Electronics Ltd, a U.K.-based electronic manufacturing company, launched ‘series 131 miniature SIL reed relays’, which is the company’s smallest high voltage reed relay.

A reed switch is made of two ferromagnetic blades, which are hermetically sealed in a glass tube filled with inert gas such as nitrogen to reduce blade corrosion. These blades are protected from corrosion and other environmental parameters using rhodium or ruthenium. Reed switch devices are mainly divided into three types, normally open (A-Type), normally closed (B-Type), and changeover (C-Type). As per its application, type of reed switch device changes.

Market Dynamics

Reed switch device are mainly used to detect the opening of a door, when used as proximity sensor. Normally open reed switch device is used when the door is closed so that when the door opens, magnetic field changes and circuit becomes complete, which will trigger the alarm. Due to its simple construction and low cost operation, it remains as a good alternative for other proximity  sensors. Increasing demand for security devices across the globe will drive growth of the global reed switch device market during the forecast period. According to Coherent Market Insights’ analysis, the global security door market is expected to register a CAGR of 7.2% over the forecast period.

Due to government initiatives to reduce carbon footprints, governments across the globe are providing incentives for electric vehicles. For instance, the government of Norway provides various advantages to electric car owners and sellers such as no sales tax for electric car companies to sell vehicles in Norway, annual tax reduction to electric car owners, and others. Due to these factors, the electric vehicle market is expected to witness growth over the forecast period. Reed switch device is used in electric vehicles at charging points. Increasing demand for electric vehicle will, in turn, increase demand for reed switch devices.  

Key features of the study:

  • This report provides an in-depth analysis of the global reed switch device market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by leading players
  • It profiles leading players in the global reed switch device market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global reed switch device market include Littelfuse, Inc., RMCIP, Standex Electronics, Inc., Nippon Aleph, HSI Sensing, Inc., Coto Technology USA, PIT-RADWAR S.A., PIC GmbH, STG Germany GmbH, Harbin Electric Group, Zhejiang Xurui, Zippy Technology Corp., Honeywell International Inc., Molex Incorporated, and others
  • These key market players are focusing on collaborating with other market leaders to launch new products to meet the increasing consumer requirements
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global reed switch device market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global reed switch device market

Detailed Segmentation:

  • Global Reed Switch Device Market, By Product Type:
    • Normally Open (A-Type)
    • Normally Closed (B-Type)
    • Changeover (C-Type)
  • Global Reed Switch Device Market, By Distribution Channel:
    • Direct Sales
    • Distributor
  • Global Reed Switch Device Market, By Industry Vertical:
    • Electronics & Communications
    • Automotive
    • Security
    • Robotics & Automation
    • Marine & Weather
    • Internet of Things (IoT)
    • Others
  • Global Reed Switch Device Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • Littelfuse, Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • RMCIP
    • Standex Electronics, Inc.
    • Nippon Aleph
    • HSI Sensing, Inc.
    • Coto Technology USA
    • PIT-RADWAR S.A.
    • PIC GmbH
    • STG Germany GmbH
    • Harbin Electric Group
    • Zhejiang Xurui
    • Zippy Technology Corp.
    • Honeywell International Inc.
    • Molex Incorporated

 *Browse all the market data tables and figures on “Global Reed Switch Device Market- Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Application
      • Market Snippet, By Distribution Channel
      • Market Snippet, By Industry Vertical
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New System Launch/Approvals
  4. Impact of COVID-19 Pandemic on Global Reed Switch Device Market
    • Short Term and Long Term Impact, by Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East and Africa
  5. Global Reed Switch Device Market, By Product Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Normally Open (A-Type)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Normally Closed (B-Type)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Changeover (C-Type)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Reed Switch Device Market, By Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Reed Relays
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Magnetic Sensors
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Reed Switch Device Market, By Distribution Channel, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Direct Sales
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Distributor
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  8. Global Reed Switch Device Market, By Industry Vertical, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Electronics & Communications
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Automotive
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Security
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Robotics & Automation
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Marine & Weather
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Internet of Things (IoT)
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  9. Global Reed Switch Device Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Industry Vertical, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Industry Vertical, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Spain
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Industry Vertical, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Industry Vertical, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Industry Vertical, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country/Region, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  10. Competitive Landscape
    • Company Profiles
      • Auto Parts Warehouse
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • RMCIP
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Standex Electronics, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Nippon Aleph
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • HSI Sensing, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Coto Distribution Channel USA
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • PIT-RADWAR S.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • PIC GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • STG Germany GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Harbin Electric Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Zhejiang Xurui
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Zippy Distribution Channel Corp.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Honeywell International Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Molex Incorporated
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  11. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse XX market data tables and XX figures on “Global Reed Switch Device Market-forecast to 2027”.

Frequently Asked Questions

The global reed switch device market was valued at US$ 234.7 million in 2019 and is expected to exhibit a CAGR of 9.2% between 2020 and 2027.
The distributor segment held the largest market share among distribution channel, contributing 52.2% in terms of value in 2019. This is owing to increasing demand for solar devices in the global market.
The major factor driving growth of the global reed switch device market is the increasing demand for reed switch devices in electric vehicles.
Major factor hampering growth of the reed switch device market is development of advanced technologies.
In 2019, Asia Pacific region held the largest market share in the reed switch device market.
Some of the key players operating in the market include Littelfuse, Inc., RMCIP, Standex Electronics, Inc., Nippon Aleph, HSI Sensing, Inc., Coto Technology USA, PIT-RADWAR S.A., PIC GmbH, STG Germany GmbH, Harbin Electric Group, Zhejiang Xurui, Zippy Technology Corp., Honeywell International Inc., Molex Incorporated, and others.
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