As per Future Market Insights, the Rotary Limit Switches market is anticipated to attain a value pool of USD 900 million by 2023-end. Global demand for rotary limit switches is expected to rise at a CAGR of 6.6% to USD 1,700 million in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | USD 900 million |
| Projected Market Value in 2033 | USD 1,700 million |
| Growth Rate (2023 to 2033) | 6.6% CAGR |
Prominent Drivers Accelerating the Growth of the Rotary Limit Switches Market
Exciting Opportunities for the Rotary Limit Switches Market: Emerging Trends and New Frontiers
Transformative Trends Shaping the Future of Rotary Limit Switches Market: From Wireless Technology to Smart Factories
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According to a research study, the Rotary Limit Switches market is set to witness steady and healthy growth from 2021 to 2031 with a CAGR of 5% to 6%.
An increase in demand for heavy-duty lifting applications for construction, automation, and other industrial purposes is expected to contribute to the growth of the market.
Rotary limit switches serve a critical purpose in heavy-duty lifting applications. They also enable the easy movement of industrial machinery. Its automatic operation help in reducing labor costs and increasing operational efficiency at the site of operations which are major factors driving the growth of the market.
Moreover, rising demand from the construction and heavy machinery industry is expected to create opportunities for the market. Industrial automation transcends all manufacturing verticals to a profound extent at present and also in upcoming years.
Rotary limit switches will emerge as a key ingredient to the hardware of the control system thus benefiting the market participants to incur a healthy sales rate.
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Rotary Limit Switches are used particularly in the construction and industrial lifting plants to control gantry cranes, jib cranes, track cranes, wall-mounted jib cranes, and in winches for construction sites.
The product is used to command and control systems to manage various processes and machines, thereby reducing the chance for human intervention and the equipment needed to move stage sets or curtains. It is used on wind turbines to manage and control the pitch angle of the blades and the position of the yaw control.
India and China are expected to register higher growth in the market due to the high growth of urbanization and rapid industrialization. The region can attribute strong growth due to rising construction activities in emerging economies. A shift in trend towards automation in construction would increase sales of rotary limit switches in the region.
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The construction industry is a major contributor to the USA economy. Demand for construction services has bolstered in the country due to favorable macroeconomic conditions, increasing disposable income, increased access to credit, and relatively low-interest rates.
The construction sector's growth in the USA is driven by improvements in nonresidential construction, with infrastructure and commercial construction subsectors propelling overall sector expansion.
Some of the leading manufacturers and suppliers of Rotary Limit Switches include:
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Type 6.2. Application Type 6.3. End Use Industry 7. Global Market Analysis and Forecast, By Type 7.1. Gear Type 7.2. Encoded Type 8. Global Market Analysis and Forecast, By Application Type 8.1. Hoisting Apparatus 8.2. Wind Turbines 9. Global Market Analysis and Forecast, By End Use Industry 9.1. Automation 9.2. Construction 9.3. Stage Technology 9.4. Industrial & Others 9.5. Power Generation (Solar & Wind) 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia and the Pacific 10.5. East Asia 10.6. Middle East and Africa 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. South Asia and the Pacific Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Type, Application Type, and End Use Industry for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. NOOK Industries, Inc. 19.2. Hubbell 19.3. Altra Industrial Motion Corp 19.4. Giovenzana International B.V. 19.5. AMETEK Inc 19.6. TER Tecno Elettrica Ravasi srl 19.7. Micronor Inc. 19.8. Omega Controls Private Limited 19.9. Schneider Electric
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Rotary Limit Switches Market
