The global automotive oil pressure switch market is expected to be valued at US$ 9.6 Billion in 2032 and exhibit steady growth at a CAGR of 5.8% in the forecast period from 2022 to 2032. It is anticipated to reach US$ 3.1 Billion in 2022. The surging demand for electric vehicles, multi-functionality of switches, and rising investments in the railways sector are likely to drive the sales of automotive oil pressure switches in the upcoming years.
| Report Attribute | Details |
| Automotive Oil Pressure Switch Market Estimated Base Year Value (2021) | US$ 2.7 Billion |
| Automotive Oil Pressure Switch Market Expected Market Value (2022) | US$ 3.1 Billion |
| Automotive Oil Pressure Switch Market Anticipated Forecast Value (2032) | US$ 9.6 Billion |
| Automotive Oil Pressure Switch Market Projected Growth Rate (2022-2032) | 5.8% CAGR |
Automotive oil pressure switches are used to examine the oil pressure and are installed in the oil circuit of the engine. These are capable of turning off automatically or send warning lights.
Real-time information is provided to create awareness among drivers when the oil pressure falls below the critical pressure within an engine. This information further helps in improving the overall life of the vehicle, as well as prevent the damage caused to the engine.
The increasing usage of these switches in various industries operating systems, such as instrumentation systems, compressed gas systems, and HVAC. These switches consist of a membrane, piston, diaphragm, and bourdon tube that moves or deforms in accordance with the pressure level exerted by the system.
The high demand for automotive oil pressure switches in compressed air systems, water pumping systems, and similar other applications is anticipated to boost the market. These are set to be extensively used for cutting power efficiently into motors in case of low level or low line pressure.
Automotive oil pressure switch connectors have numerous advantages when used in battery-operated pumps, such as prolonged battery life, more convenience, and high system longevity. The continuously rising number of new vehicle registrations across the globe would also positively influence the global market.
Automotive oil pressure switches have limited monitoring capabilities as these cannot send the measured pressure valve in remote locations. This factor may obstruct the automotive oil pressure switch market size. Latest oil pressure sensors also have certain problems, including oil leakage. It may hamper the growth in this market.
North America is projected to emerge dominant by generating the largest automotive oil pressure switch market share in the assessment period. The increasing number of railway infrastructure modernization projects in the U.S. and Canada is expected to be one of the major factors propelling the market.
In addition to that, ongoing manufacturing activities in the automotive sector are likely to bolster the regional market. The growing sales and production of electric vehicles owing to rising concerns regarding the environment is another crucial factor that is estimated to augur well for the North America market.
The rapid expansion of the manufacturing sector in emerging economies, such as India and China is projected to accelerate the Asia Pacific automotive oil pressure switch market growth in future years. The surging demand for passenger cars in South Korea and Japan is also expected to drive the regional market.
The presence of some of the renowned companies across developing countries is also set to augment the market. Besides, the increasing usage of these switches in pharmaceutical, oil and gas, and chemical industries is another factor that is expected to drive the Asia Pacific market.
Some of the leading companies present in the global automotive oil pressure switch market are Bitron Industrie S.p.A, Amphenol Advanced Sensors, Pressure Switches, Inc., Francisco Albero S.A.U., Tecmark Corporation, and Standard Motor Products, Inc. among others.
Prominent companies are engaging in strategic business expansions and product launches to strengthen their positions across the global market. Some of the other key players are increasingly focusing on collaborations and joint ventures to co-develop innovative products in the market.
| Report Attribute | Details |
| Growth Rate | CAGR of 5.8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
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The global automotive oil pressure switch market is anticipated to surpass US$ 9.6 Billion in 2032.
North America is set to dominate the automotive oil pressure switch market in the forecast period.
Bitron Industrie S.p.A, Amphenol Advanced Sensors, Pressure Switches, Inc., Francisco Albero S.A.U., Tecmark Corporation, and Standard Motor Products, Inc. are some of the reputed companies in the automotive oil pressure switch market.
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