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$ 270.1 Mn in 2021 and is expected to exhibit a CAGR of 9.5% during the forecast period (2020-2027).
Recent Developments:
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 270.1 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 9.5% | 2030 Value Projection: | US$ 600.2 Mn |
| Geographies covered: |
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| Segments covered: |
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| 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., Molex Incorporated |
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Restraint:
Reed Switch Device Market - Impact of Coronavirus (Covid-19) Pandemic:
According to Coherent Market Insights’ analysis, the impact of the coronavirus (COVID-19) pandemic on the reed switch device market is moderate. But, Due to the lockdown in countries such as China and India, supply chain is mainly disturbed. As we know Reed switches are largely used in the automation and robotics industry which was completely shut down.Hence, the global reed switch device market witnessed slow growth during the pandemic.
Figure 1: Global Reed Switch Device Market Share (%), By Region, 2021
Asia Pacific held a dominant position in global reed switch device market in 2021
Statistics:
Asia Pacific held dominant position in the global reed switch device market in 2021, accounting for 37.2% share in terms of value, followed by North America, Europe, Latin America, and MEA, respectively
Figure 2: Global Reed Switch Device Market (US$ Mn) Analysis and Forecast, 2017 - 2030
The global reed switch device market was valued at US$ 270.1 Mn in 2021 and is expected to reach US$ 600.2 Mn by 2030, growing at a CAGR of 9.5% between 2022 and 2030.
Major players 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
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.
The Global Reed Switch Device Market is estimated to account for US$ 600.2 Mn in terms of value by the end of 2030.
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.
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:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
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