Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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.
Please Choose One of them.