Reed Switch Market Size, Share, Opportunities, And Trends By Type (Waterproof Reed Switch, Electric Reed Switch, Magnetic Reed Switch, Others), By Application (Security Alarms, Measurement Devices, Speedometer, Consumer Electronics, Others), And By Geography - Forecasts From 2023 To 2028

The reed switch market is expected to grow at a CAGR of 8.78% from US$518.999 million in 2021 to US$935.272 million by 2028.

A reed switch is an electromechanical device that utilizes the principle of magnetism to activate an electrical circuit. It comprises two ferromagnetic reeds enclosed within an airtight glass capsule. When a magnetic field is introduced, the reeds are attracted to each other, causing their electrical contacts to meet and complete the circuit. Reed switches come in various forms, including waterproof, electrically operated, and magnetically actuated versions. Their versatility has led to their widespread adoption in diverse applications, such as security systems, measuring instruments, speedometers, and consumer electronics. The rising demand for dependable, low-power, and economical switching solutions across a broad spectrum of applications is propelling the demand for reed switches, fueling market expansion.

Increasing use in the automotive industry

The expansion of the automotive industry has emerged as a pivotal catalyst for the reed switches market, with a myriad of applications enhancing vehicle functionality. One of the primary drivers is the escalating automotive production, wherein reed switches play a crucial role in various applications such as power windows, automatic door locks, and windshield wipers. The surge in demand for advanced technology and automation in vehicles has created a positive outlook for the automotive reed switches market. Technological advancements stand out as a key contributing factor, as the adoption of cutting-edge sensor technologies in vehicles fuels the demand for reed switches across diverse applications.

During the fiscal year spanning from April 2021 to March 2022, the Indian automotive industry witnessed a remarkable surge in the export of various vehicle categories, reflecting a robust growth trajectory. Notably, the export figures for Passenger Vehicles experienced a substantial upswing, escalating from 404,397 units to an impressive 577,875 units. This marked a substantial positive growth of 42.9%, underscoring the expanding global demand for Indian-made passenger vehicles. Simultaneously, the Commercial Vehicle segment demonstrated a noteworthy surge, with exports surging from 50,334 units to 92,297 units during the same period. This surge in commercial vehicle exports signifies an increasing global recognition of the reliability and quality of Indian commercial vehicles. The Three-Wheeler category also contributed to this export surge, with a notable increase from 393,001 units to 499,730 units, indicative of a growing international market for Indian three-wheeled vehicles.

It is projected that the reed switch market in the USA will grow steadily. 

The integration of reed switches in the automotive industry, which supports applications like position sensing, is driving the reed switch market in the United States. The need for reed switches is increasing as a result of the electronics industry's rapid improvements in the United States, especially in smartphones and smart home appliances. With reed switches playing such a crucial part in IoT devices, the country's leadership in IoT adoption drives the industry considerably.

The U.S. reed switch market is closely related to the automotive industry because of its vital role as a sensor for automotive applications. Advances in automotive technology, such as the emergence of electric and driverless cars, which boost the requirement for sophisticated sensors, fuel the development of the reed switch industry. As per the Bureau of Transportation Statistics, the production of motor vehicles increased from 8,818 thousand units in 2020 to 9,157 thousand units in the year 2021. Furthermore, the domestic sales in 2020 and 2021 were 11,571 and 11,831 thousand units respectively.

The rise of the electronics sector drives the need for dependable and small-sized components, which in turn propels the reed switch market. Reed switches, which profit from the trend of miniaturization and growing integration, find crucial applications in IoT devices, automotive electronics, and diverse electronic systems. For instance, according to the United States International Trade Commission, imports of computers, accessories, and components rose by $15.2 billion (12.0%) between 2019 and 2020. The main sources of this growth in imports were South Korea, China, Taiwan, and Thailand. The biggest gains in this analysis were in printed circuit board assemblies, up $4.2 billion or 29.4%, and laptop computers and processors, up $10.6 billion or 26.4 percent.

Market Key Developments

• In September 2021, HSI Sensing, the leading innovator in bespoke reed switch and sensor technology engineering and precise production celebrated the grand opening of its new production facility and warehouse for Genisco Filter Corp, a subsidiary. The former Madison, Wisconsin-based Genisco Filter Corp. was an expert in the creation and production of EMI/RFI filters.
• In February 2021, the global manufacturer of cutting-edge technologies for power control, sensing, and circuit protection, Littelfuse, Inc. unveiled an expanded line of reed relay products that offers input/output isolation voltage of 2500 VRMS, supports loads up to 300 Vdc, and extends voltage capabilities to include AC ratings. There are two packaging options for these tiny reed relays: single in-line (SIL) and dual in-line (DIL).

Segmentation:

• By Type
  • Waterproof Reed Switch
  • Electric Reed Switch
  • Magnetic Reed Switch
  • Others
• By Application
  • Security Alarms
  • Measurement Devices
  • Speedometers
  • Consumer Electronics
  • Others
• By Geography
  • North America
    • By Type
    • By Application
    • By Country
      • United States
      • Canada
      • Mexico
  • South America
    • By Type
    • By Application
    • By Country
      • Brazil
      • Argentina
      • Others
  • Europe
    • By Type
    • By Application
    • By Country
      • UK
      • Germany
      • France
      • Spain
      • Others
  • Middle East and Africa
    • By Type
    • By Application
    • By Country
      • Saudi Arabia
      • UAE
      • Israel
      • Others
  • Asia Pacific
    • By Type
    • By Application
    • By Country
      • China
      • Japan
      • India
      • South Korea
      • Others