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Global Automotive Oil Pressure Switches Market to Grow at a CAGR of 3.8% During 2022-2027, Aided by the Rising Focus to Optimise Automobile Performances

According to a new report by EMR titled, ‘Global Automotive Oil Pressure Switches Market Report and Forecast 2022-2027’, the global market for automotive oil pressure switches is estimated to grow at a CAGR of 3.8% in the forecast period of 2022-2027.

The growing requirement for optimising the performance of automobiles is augmenting the market for automotive oil pressure switches. As the escape of pressure in vehicles can lead to repair issues and serious performance problems, the demand for efficient automotive oil pressure switches is surging. The market is also being driven by the increasing focus on engine health and performance maintenance, the demand for optimal engine oil care is growing, which is boosting the deployment of automotive oil pressure switches.

The rising demand for automotive oil pressure switches that can endure harsh wear and tear conditions is significantly contributing to the growth of the market. With the increasing production of automobiles to meet their growing demand, the incorporation of automotive oil pressure switches is surging, which is aiding the market. Moreover, the growing utilisation of automotive oil pressure switches as sensors or actuators to enable the activation of oil warning lights in heavy commercial vehicles is expected to provide impetus to the growth of the market in the forecast period.

Some of the leading companies in the market are Sensata Technologies, Inc. (NYSE: ST) and Standard Motor Products, Inc. The latter offers an oil pressure switch that indicates loss in the pressure of engine oil and provides accurate readings to enable smooth operations of engines. The ceramic and high-temperature sensors offer excellent durability and resistance to oil leakage and rupture. It also undergoes computer-controlled calibration testing to ensure the accuracy of the reading oil pressure in the engine of the vehicle. Moreover, the switch includes pre-applied thread sealant for easy installation. Such innovative offerings by the leading companies are positively impacting the growth of the market.

Market Analysis by Type, Application, Sales Channel, and Region:

  • The market, on the basis of type, can be divided into normally open type (NO), normally closed type (NC), and normally open and closed type (NOC).
  • Based on application, the market can be divided into passenger car, light commercial vehicle, and heavy commercial vehicle.
  • The major sales channels of automotive oil pressure switches include manufacturer/distributor/service provider and aftermarket.
  • The regional markets for automotive oil pressure switches include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing car ownership in developing countries like India and China, among others, is surging the demand for automotive oil pressure switches, hence bolstering the market.
  • The market for automotive oil pressure switches is being propelled by rapid urbanisation, increasing disposable incomes, technological advancements, and infrastructural growth.
  • The growing manufacturing and demand for new vehicles across the globe are propelling the market for automotive oil pressure switches.
  • The market growth of automotive oil pressure switches can be attributed to the increasing use of electronic components in automobiles.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for automotive oil pressure switches for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, applications, sales channels, and major regions of automotive oil pressure switches.
  • The market report also analyses the trade data by covering the major importing and exporting countries. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global automotive oil pressure switches market are Bitron Industrie S.p.A, Tecmark Corporation, Standard Motor Products, Inc., Amphenol Automotive Connection Systems (Changzhou) Co., Ltd, Francisco Albero SAU, SUCO Robert Scheuffele GmbH & Co. KG, and Sensata Technologies, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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