Westford, USA, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Littelfuse, an industrial technology manufacturing company in the global electromechanical switch market has announced the completion of its acquisition of the leading designer and manufacturer of high-performing electromechanical switches, C&K Switches. Littelfuse finalized this acquisition at an enterprise value of $540 million. C&K is a leading manufacturer, which has annualized over $200 million in sales.
The electromechanical switch market has been on a reliable and steady growth trajectory since it hit $4.2 billion a few years ago. The leap of USD 1 billion in only a year was another astounding case that strengthened the trajectory of this growth. The products are becoming high in demand with their vast utilization in household products to the aerospace and IoT (Internet of Things), and the growth in reliance on automation and machinery in production.
Get sample copy of this report:
https://skyquestt.com/sample-request/electromechanical-switch-market
How is the electromechanical switch industry faring with mergers and acquisitions?
Global electromechanical switch market is growing as more and more mergers and acquisitions take place to improve the value in product supply and cost-effectiveness. Recently, Yunhanxincheng Internet and Technology Co., Ltd. collaborated with C&K announcing them as their authorized distributor. C&K leads the market of switches, having 8.5 million switch combinations and assembling over 55,000 standard products.
If recent trends are anything to go by, it can be seen that Yunhanxincheng has become a one-stop shopping site for electronic components, after it invested in an SMT factory in 2018 in addition to electronic components distribution, for better servitude to its clients.
In January 2022, Motion Industries, Inc., an industrial technology distributor of maintenance, repair, and operation replacement parts finalized its acquisition of Kaman Distribution Group with an enterprise value of $1.3 million in the global electromechanical switch market. The acquisition is set to serve the purpose of accelerating Motion’s concentration on core industrial products and services. This acquisition will also cater to their electro-mechanical components to MRO and OEM customers, which was KDG’s initial service.
To boost manufacturing capabilities and improve efficiency, Saitama Murata Manufacturing changed the name of one of its two Vietnamese subsidiaries by merging them into a single company, Murata Manufacturing Vietnam CO., Ltd in April 2022.
What are the recent developments in the market?
Electromechanical products never go out of style and new developments are redundant when it comes to the electromechanical switch market. Recently in May 2022, Menlo Microsystems launched “Ideal Switch” which functions at energy less than a milliwatt, can withstand extreme temperatures, and perform billions of operations in a second. In May, C&K too unveiled their new KSC Extra Durable (KSC TE) switch which has an exceptionally long life when compared to its size and force range. This product is said to cater to the elevator, industrial, and gaming industries. IN July C&K developed SDS ULC (Ultra-low Current) switches which are designed to consume minimal power on battery-powered devices. Its utility ranges in various sectors including IoT, consumers, smoke detection, medical sector, networking, and so on.
Browse summary of the report and Complete Table of Contents (ToC):
https://skyquestt.com/report/electromechanical-switch-market
What other competition is expected in the market?
Due to a growth in the electromechanical switch market with the rising demand for the proliferation of IoT, a hike in the use of the automotive industry as well as the automation industry, demand for wearable devices, and miniaturization of devices has seen a similar spike. New innovative technologies like AI and sensors are increasing the demand for MEM components like switches. Robert Bosch GmbH announced an investment of USD 296 million in February 2022 to accelerate the production of semiconductors due to the global shortage in supply.
There is an increase in the demand for automated switches in the electromechanical switch market occupancy switches. However, there are various challenges that come with these switches, for instance, safety is compromised in terms of fire hazards, and consuming power even when the applications are turned off to sense the presence of people. According to Sky Quest’s research, it can be seen that due to the demand for automated switches which lessens the loss of electricity and switches off power when not required, the automated switches industry has a huge gap that requires to be filled.
Besides, these Dual-In Line Packages or "DIP" switch products are expected to see an annual rise in demand. A similar fate is expected of pushbutton switches used in diverse sectors like appliances, telecommunication, automotive transportation, and power tools. Rocker switches are expected to see a positive growth trajectory, especially in North America, where the demand for these switches increases in the telecommunications and consumer electronics sectors.
The gradual encompassing of smart home devices has led to the increase in the demand for tactile switches with IP67 that provide water and dust proofing. Starting from robot cleaning devices ti Tvs to health monitors all sectors are adopting these smart devices as a part of the Internet of Things (IoT). A lot of scope remains unexplored in this segment of the global electromechanical switch market.
From Sky Quest’s study, it is expected that the average price of electromechanical switches will decline in the future. The average price of the products has declined in the preceding years due to technological development. It will continue the trend as there is expected to be an increase in mature manufacturing technology and the cost of raw materials. This product also faces a substitute threat, with the rise of high technologies.
SkyQuest has published report on global electromechanical switch market. The report provides a detailed analysis about market analysis, value chain, supply chain, market dynamics, latest trends, growth opportunities, market forecast, and company profiles, among others.
Speak to Analyst for your custom requirements:
https://skyquestt.com/speak-with-analyst/electromechanical-switch-market
Key Players of Global Electromechanical Switch Market:
- Alps Alpine CO., LTD (Japan)
- ITT Industries (US)
- Panasonic (Japan)
- Omron (Italy)
- Electroswitch Corp. (US)
- TE Connectivity (Switzerland)
- OTTO (US)
- Carling Technologies (Turkey)
- Havells (India)
- NKK Switches (Canada)
Related Reports in SkyQuest’s Library:
Global Narcotics Scanner Market
About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
Address:
1 Apache Way, Westford, Massachusetts 01886
Phone:
USA (+1) 617-230-0741
Email: sales@skyquestt.com
