Rocker Switch Market
Rocker Switch Market (Type: Single-pole Rocker Switch and Multi-pole Rocker Switch; and Application: Automotive [Commercial Vehicles and Passenger Vehicles], Aerospace, Heating Ventilation, and Air Conditioning [HVAC], Instrumentation, Printers, Vending Machines, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
- Electronics & Semiconductors
- 197 Pages
Multipurpose Ability, More Reliability of Rocker Switches Grow Popular Worldwide
Rocker switches are used in various applications, including surge protectors, display monitors, computer power supplies, and other devices. A rocker switch with autonomous circuitry can have a light activated on the front of the switch in both the on and off positions, which allows the switch to be found easily in the dark. With dependent circuitry, the light is activated only when the switch is on. The continuous developments in the design for the rocker switch are expected to increase the demand for the global rocker switch market during the forecast period.
The rocker switches are used for their multi-pole and multi-position functionality. The market holds options such as round shape, narrow width, strong construction, bevelled frames, and recessed switch guards to limit accidental actuation, splash-proof rubber boots, and sub miniature sizes for a space-saving small footprint, making rocker switch a more reliable choice for consumers. Moreover, manufacturers operating in the automobile sector are also substituting traditional gear sticks with rocker switches. The rising demand for commercial vehicles is also driving the demand for the rocker switch market in the upcoming future.
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Suspension of Global Trade, Supply Chain Affected Rocker Switch Production during COVID-19 Pandemic
The outbreak of the coronavirus disease of 2019 (COVID-19) has led to lockdowns in major countries of the world. Several sectors including automotive, aviation, consumer electronics, chemical, pharmaceuticals, and oil & gas have been largely affected by stringent regulations implemented to contain the spread of the virus. Along with these sectors, end-use industries of the rocker switches, including aerospace, HVAC, and instrumentation also witnessed a fall in the demand for rocker switches, thus impacting the global market negatively. Moreover, the impact is expected to take a while to recover, owing to shortage of electronic equipment and instrument services, hampering of production facilities and supply chains, and decreasing stock market prices.
The key players in the rocker switch market have had to adjust their production planning and operations, as COVID-19 shifts demand for major switch applications. Regionally, the rocker switch market is affected the most in Asia Pacific countries including China, Taiwan, South Korea, and Japan, being the world production center over the past two to three decades. Furthermore, labor shortages in COVID-19 also affected production and testing plants, which hampered the growth rate for the global rocker switch market. However, with the pandemic in its end phase in major nations, industries are expected to increase production to meet the demand.
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Asia Pacific to Lead Rocker Switch Market with Largest Share
Most industrial switch systems require a space where communications occur between the human and the machine. This is usually known as an operator interface, and switches form a vital component in these areas, allowing the operator to turn components on and off quickly. However, if the switches in an operator interface are not optimally chosen, it can negatively affect the functionality of the machinery. Thus, rocker switches are among the most used switches with many of them providing a positive click signal to let the user know the switch has changed position successfully. Rocker switches are popular for use in gadgets such as computer printers, UPS, SMPS, etc. Rocker switches can be engaged or disengaged with a small force due to which it is becoming popular in most consumer electronics applications. This factor is also driving the rocker switch market.
Growing presence of end users and key players and rapid technological advancements in North America are expected to increase the region's market share in the near future. In addition, rise in investments by governments in electric vehicle infrastructure and increase in usage of rocker switches in automotive applications in Asia Pacific are ensuring a steady demand in the region. Overall, the global rocker switch market is estimated to exceed the value of US$ 11.4 Bn by 2031, expanding at a CAGR of 3.4% during the forecast period.
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Most automotive businesses around the world are adopting dust-proof rocker switches, as longer vehicle travel may lead to issues in components. The protective casing that is connected without screws prevents the dust from entering the switch, making it a convenient option for vehicles and electronic components in the long run. The growing popularity of these switches is likely to drive the global rocker switch market during the forecast period.
Rocker Switch Market: Overview
- According to Transparency Market Research’s latest research report on the global rocker switch market for the historical period of 2017–2019 and the forecast period of 2021–2031, increase in application areas of rocker switch such as aerospace, automotive, HVAC, instrumentation, and others, and rise in adoption of rocker switch in consumer electronics are major factors expected to boost the global rocker switch market during the forecast period
- The rocker switch market has been segmented based on type, application, and region. In terms of type, the single-pole rocker switch segment is projected to expand at a CAGR of 3.6%, owing to its use in various applications such as appliances, computers, and peripherals. Furthermore, it offers attractive actuator styling and multiple options.
- Based on application, the global rocker switch market has been classified into automotive, aerospace, HVAC, instrumentation, printers, vending machines, and others. The automotive segment is estimated to expand at a CAGR of 3.7% from 2021 to 2031 due to increase in usage of rocker switch in engineering vehicles and SUVs for power door lock, heated seats, and other controls. The rocker switch is widely utilized in instrumentation, due to which the instrumentation segment is projected to expand at a CAGR of 3.5% for the period 2017 to 2031.
- In terms of revenue, the global rocker switch market is expected to exceed the value of US$ 11.4 Bn by 2031, expanding at a CAGR of 3.4% during the forecast period
Rising Demand for Rocker Switches in Automobile Industry: Key Driver
- Various automobile systems such as power door lock switch, heated seat switches, rear window defogger grids, and power window controls contain rocker switches, owing to their ease of use. These rocker switches can be used to indicate on or off status, which makes them suitable for dashboard functions such as auxiliary and lights. Additionally, rocker switches need minimum force to engage and hence, they are used in interior applications.
- Manufacturers operating in the automobile sector are also replacing rocker switches with traditional gear sticks. For instance, the newly launched electric car of “BMW iX xDrive50” comes with drive selection rocker switch that replaces the traditional gear stick. Moreover, the rising demand for commercial vehicles is fueling the demand for rocker switches. These factors are propelling the rocker switch market.
Advantages Offered by Rocker Switches
- Various advantages are offered by rocker switches as compared to traditional switches. These include reliability and simplicity. Moreover, the rocker switch is wider in size and available in different shapes, which makes them easy to wipe clean.
- Manufacturers are focusing on new product launches for better performance and quality. For instance, in 2020, Esbee launched a new pro rocker switch that is simple to use, reliable, cost-effective, and performs better without compromising on quality. It comes with tall button, which is isolated from terminal area. These advantages are expected to propel the rocker switch market.
Rocker Switch Market: Competition Landscape
- Detailed profiles of providers of rocker switch have been given in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global rocker switch market are
- ABB, Ltd.
- Omron Corporation.
- TE Connectivity
- Eaton Corporation
- Honeywell International Inc.
- Emerson Electric Co.
- Carling Technologies
- Sensata Technologies, Inc.
- Leviton Manufacturing Co. Inc.
- Everel Group S.p.A.
- OTTO Engineering Inc.
Rocker Switch Market: Key Developments
- Key providers of rocker switch, such as ABB, Omron Corporation., TE Connectivity, Eaton Corporation, and Honeywell International Inc. are focusing on enhancing the performance and quality of rocker switch to attract more customers
- Some other key developments in the global rocker switch market are highlighted below:
- In February 2021, Carling Technologies announced the launch of ‘Mpower’, which is a digital switching platform made of digital rocker switch modules. It delivers simple, intuitive control over the rising complex systems. MPower is a scalable and programmable solution for monitoring and control systems.
- In 2020, ABB launched the electrical installation solutions for buildings, which consists of different new products for light switches and socket outlets such as rocker switch frames, millennium-1 gang premium rocker switches, millennium-triple rocker switches, millennium-premium rocker frames, half/double rocker switches, etc.
- In November 2019, Carling Technologies introduced a new HR-series IP68 Halo illuminated rocker switch that can be utilized in marine, on-off highway, lawn equipment, golf carts, etc.
- In April 2019, TE Connectivity entered into an agreement to acquire the Kissling Group of companies, a provider of high-power relays and ruggedized switches used in the commercial vehicle, transportation, industrial, military and aviation sectors
- In the global rocker switch market report, we have discussed individual strategies, followed by company profiles of providers of rocker switch. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global rocker switch market.
Rocker Switch Market – Scope of Report
A new study on the global rocker switch market is published by Transparency Market Research (TMR). It presents detailed information on key market dynamics, including drivers, trends, and challenges for the global rocker switch market as well as its structure. TMR’s study offers valuable information on the global rocker switch market in order to illustrate how the market is expected to expand during the forecast period i.e. 2021–2031.
Key indicators of market growth, which include value chain analysis and compound annual growth rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the global rocker switch market.
An extensive analysis of business strategies adopted by leading market players is also featured in TMR’s study on the global rocker switch market. This can help readers understand key factors responsible for growth of the global rocker switch market. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the global rocker switch market. This data would guide market players in making apt decisions in the near future.
Key Questions Answered in TMR’s Study on Rocker Switch Market
- What would be the Y-o-Y growth trend of the global rocker switch market between 2021 and 2031?
- What is the influence of changing trends in the type segment on the global rocker switch market?
- Would Asia Pacific continue to be the most dominant regional market for providers of rocker switch over the next few years?
- Which factors would hinder the global rocker switch market during the forecast period?
- Which are the leading companies operating in the global rocker switch market?
A unique research methodology is utilized by TMR to conduct a comprehensive research on the global rocker switch market and arrive at conclusions on future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.
Secondary research sources referred to by analysts during the production of the report on the global rocker switch market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to production of TMR’s study on the global rocker switch market as a primary research source.
These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global rocker switch market. Access to an extensive internal repository as well as external proprietary databases allowed this report to address specific details and questions about the global rocker switch market with accuracy. The study also uses a top-down approach to assess the numbers for each segment and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on future prospects for the global rocker switch market more reliable and accurate.
Rocker Switch Market – Segmentation
TMR’s study of the global rocker switch market segments the market based on type, application, and region. Changing market trends and other crucial market dynamics associated with segments of the global rocker switch market have been discussed in detail in TMR’s study.