Request Discount

Transfer Switch Market (Operation Type - Automatic Transfer Switch, Contactor Based Transfer Switch, Circuit Based Transfer Switch, Static Transfer Switch, and Manual Transfer Switch; Transition Mode - Soft Load Transition Mode, Closed Transition Mode, Delayed Transition Mode, and Open Transition Mode; Installation Type - Emergency Systems, Legally Required Systems, Critical Operation Power Systems, and Optional Standby Systems): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : March, 2022

  • Rep Id : ICT003085

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the transfer switch market provides in-depth analysis of segments and sub-segments in the global as well as regional transfer switch market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional transfer switch market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global transfer switch market. According to the report, the global transfer switch market is projected to grow at a CAGR of 6.56% over the forecast period of 2021-2027. The global transfer switch market was valued at USD 1.58 billion in 2021 and is expected to reach USD 2.31 billion in 2027.

 

Market Insight

A transfer switch is a mechanical device that's utilized to interchange load between two power sources either electronically or mechanically. It provides a rapid transition between multiple power sources to make sure an uninterrupted power supply. Manual transfer switches require manual access to a generator or power source, which may be flipped to revive power. On the opposite hand, automatic transfer switches (ATS) don't require external inputs and might immediately flip to generator power just in case of an influence cut. These switches offer increased reliability and safety, are cost-effective, and are less hazardous to work. These switches find wide application in industrial and commercial settings like factories, warehouses, hospitals, and schools where continuous power supply may be a necessity. The rising necessity of residential, industrial, and commercial sectors for generators because of uninterrupted power supply will increase the demand for the transfer switch globally.

 

A transfer switch is an electromechanical device that facilitates switching between two or more power sources mainly backup generators. It assures convenient and hassle-free switching and continuous power supply in industrial, commercial, and residential operations. The market drivers of the transfer switch market are entirely influenced by the power distribution & transmission industry. Growth in the related as well as complementary markets, of generators and alternate energy sources, also contribute to the growth of the transfer switch market. Sudden brownouts and voltage fluctuation, outages, blackouts, and uncertain weather conditions have led to the increase in demand for transfer switches in the market. The growing dependence on power and critical application in industries, commercial institutions, healthcare, transportation, and households is the driving factor for the transfer switch market. However, a lack of awareness among developing regions and the need for regular maintenance could hamper the growth of the transfer switch market.

 

Based on region, the world Transfer Switch Market has been segregated into North America, Asia Pacific, Europe, Middle East, and Africa. North America is projected to be the leading region in the transfer switch market, during the forecast period. The rising demand for uninterrupted power supply will propel the growth of the market in the forecast period. The Asia Pacific is anticipated to carry a large share of the worldwide transfer switch market. The market within the region is anticipated to expand at a high rate of growth, as compared to the market in other regions, due to an increase in population, urbanization, and industrialization within the region. The increasing use of the transfer switch in rapidly developing countries like India and China will boost the growth of the market in the region. Moreover, the presence of major switch manufacturers in China will drive the growth of the region in the forecast period.

 

Segment Covered

The report on the global transfer switch market covers segments such as operation type, transition mode, and installation type. On the basis of operation type, the sub-markets include automatic transfer switch, contactor based transfer switch, circuit based transfer switch, static transfer switch, and manual transfer switch. On the basis of transition mode, the sub-markets include soft load transition mode, closed transition mode, delayed transition mode, and open transition mode. On the basis of installation type , the sub-markets include emergency systems, legally required systems, critical operation power systems, and optional standby systems.

 

Transfer Switch Market


Companies Profiled:

The report provides profiles of the companies in the market such as ABB Ltd, General Electric, Cummins Inc., Eaton Corporation, Emerson Electric, Siemens, SOCOMEC Group, Russelectric, Schneider Electric, and Generac Power Systems.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the transfer switch market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


Other Reports in This Category
24 hour delivery through email
9923950043 Monday to Frieday 9am-7pm
looking for discount