Reed Switch Device Market

The global Reed Switch Device market was valued at 22.71 Million USD in 2021 and will grow with a CAGR of 8.81% from 2021 to 2027, based on Research newly published report.

The prime objective of Reed Switch Device Market is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, Reed Switch Device Market covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

Reed Switch Device 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.In the last several years, the Reed Switch Device industry has enjoyed a double-digit production growth rate annually. In 2016, the global production of Reed Switch Device is about 1.5 billion units. In the next five years, the global production of Reed Switch will maintain an annual growth rate more than 10%. In 2021, the global production of Reed Switch Device is expected to beyond 2.7 billion units. The market concentration degree is relative high, as the top 10 manufacturers occupied more than 90% of the total market. The cooperation between companies is more and more, despite fierce competition. Due to the global economy recovery trend, investors are still optimistic about this area. In Asia, Japan is the largest supplier of Reed Switch Device, as the largest manufacturer, OKI located in Japan. In Europe and USA, the manufacturers can supply excellent products with good performance. While the price from USA and Europe is also higher than in Japan. China domestic Reed Switch Device industry developed faster than the global market. Besides, some manufacturers built plants in China, due to the low cost of labor and materials.

By Market Verdors:

• OKI
• Littelfuse (Hamlin)
• RMCIP
• Standex-Meder
• Nippon Aleph
• HSI Sensing
• Coto
• PIT-RADWAR
• PIC
• STG
• Harbin Electric Group
• Zhejiang Xurui

By Types:

• Form A
• Form B
• Form C

By Applications:

• Reed Relays
• Magnetic Sensors

Key Indicators Analysed

• Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market?s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
• Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
• Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
• Opportunities and Drivers: Identifying the Growing Demands and New Technology
• Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

Key Reasons to Purchase

• To gain insightful analyses of the market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the market.
• Besides the standard structure reports, we also provide custom research according to specific requirements.