Global Magnetic Reed Switch Market Growth 2019-2024

Magnetic Reed Switch 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.
The main market players are OKI, Littelfuse, RMCIP, Standex-Meder, Nippon Aleph, HIS Sensing, Coto, PIT-RADWAR, PIC, STG, Harbin Electric Group, Zhejiang Xurui Company and etc.

North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Magnetic Reed Switch. Europe also plays important roles in global market, with market size of 39 million USD in 2017 and has a market share about 14.5%. The Asia-Pacific will occupy for more market share in following years, especially in Japan (with a revenue market share 30.7%) and China (with a revenue market share 16.3%).

Demand is driven by demographics and the health of the economy. The profitability of individual companies depends on their ability to bid accurately, secure contracts, and control costs. Large companies enjoy economies of scale in financing and the ability to offer a broad range of services in many locations. Smaller companies can compete effectively by specializing in particular services or focusing on certain geography. The industry is fragmented.

Despite fierce competition, due to the global recovery trend, investors are still optimistic about this area; more new investment will enter into this field in future.


According to this study, over the next five years the Magnetic Reed Switch market will register a 12.0% CAGR in terms of revenue, the global market size will reach US$ 530 million by 2024, from US$ 270 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Magnetic Reed Switch business, shared in Chapter 3.

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

This study considers the Magnetic Reed Switch value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Form A
Form B
Form C
Other
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Reed Relays
Magnetic Sensors
Other

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Oki
Littelfuse (Hamlin)
Standex
RMCIP
Nippon Aleph
HSI Sensing
Coto
PIT-RADWAR
PIC
STG
Harbin Electric Group
Zhejiang Xurui

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Magnetic Reed Switch consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Magnetic Reed Switch market by identifying its various subsegments.
Focuses on the key global Magnetic Reed Switch manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Magnetic Reed Switch with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Magnetic Reed Switch submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.