Switch and Sensor manufacturers were negatively impacted by the COVID-19 pandemic in several ways. Plants were forced to shut down due to mandatory lockdowns and social distancing requirements resulting in suspended operations for months at a time. In addition, international trade barriers and built-up traffic at key transportation hubs around the world caused massive delays in on time delivery of raw materials. Still, while it has been improving gradually after 3 years of the pandemic, manufacturers are still struggling to secure crucial raw material needed for their manufacturing processes.
According to Global Market Insights, the electric switch and sensor market is projected to expand at a CAGR of approximately 6% each year leading up to 2030. This number being an estimated 13 Billion USD. An increase in industrial technology such as loT, AI, and Robotics will continue to push the market forward as the industry’s leading niches.
Because of the unprecedented issues that have occurred over the last few years, companies are investing heavily in robotics and automation to ensure non interrupted production in future cases. Not only will automation help with company personnel and dependency, but it will also help to increase the output of products dramatically. The increase in the manufacturing of electronic vehicles and a rise in electrical switching technology in the health care sector will also play a key role in increasing the market value.
Senasys continues to follow this growth trend by seeing an increase in revenue from year 2021 to 2022. Senasys supports many of the industries that are seeing this growth trend. Our pneumatic switching products, Presair, supporting medical OEM’s, the CEMCO TC Firestat division being a major contributor to building construction projects in North Carolina, and a variety of other industries with our temperature switching solutions.
Senasys, Inc. was founded in 1999 in Freeport, Ill., and relocated to the Eau Claire, Wisconsin area in 2001. Their business has expanded over the years to include product lines developed in-house as well as acquisitions of components previously manufactured by companies such as Honeywell and General Electric.