Transfer Switch Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
- Transparency Market Research
- September 2027
- 0 pages
A transfer switch is an electrical equipment that switches load between two power sources such as utility power and generator power. Transfer switches are available in the manual or automatic forms. Transfer switches provide quick transition between two or more power sources which helps in uninterrupted power supply if any of the power sources goes off.
The global transfer switch market is very mature and has grown significantly since its inception. Transfer switches are used in various industrialand residential setups. Transfer switches are also available in automatic mode which has further improved its usage and practicality. Transfer switches have a huge market in Asia Pacific, North America and Europe. Middle East, Latin America and Africa also have a growing market for transfer switches.
The global transfer switches market can be segmented on the basis of type, transition mode, and geography. The different types of transfer switches include automatic transfer switches and manual transfer switches.Automatic transfer switch constantly monitors the supply power and instantly switches when it senses shortage or variation in power. Automatic transfer switches are most commonly used transfer switches.In manual transfer switch, an operator effects the transition by changing a switch. Transfer switches are segmented on the basis of various transition modes such as open transition, closed transition, delayed transition, and soft load transition. An open transition transfer switch breaks contactwith one source of power before it makes contact with another source of power. Whereas, closed transition transfer switches simultaneously makes contact with another power sources before breaking from it. Closed transition transfer switches are useful for applications requiring zero interruption of power. Delayed transition transfer switch disconnects from one source and then pauses before it connects to the alternate source. Soft loading transition transfer switch synchronizes generator power with the utility power before switching between alternate power sources.
Asia Pacific including countries such as Japan, South Korea, India and China has the largest market share of global transfer switches. Developing countries such as China and India are boosting the transfer switches market.North America and Europe also have a huge market for transfer switches. Countries such as the U.S, Germany, U.K, France and Canada have huge market share of transfer switches market. Middle East, Latin America and Africa are expected to have a decent share of transfer switches market in the coming decade.
The demand for transfer switches is growing due to abundant applications in different end use sectors. Global transfer switches market growth is reliant on the growth of power utilities and generator backed power supply.Transfer switches are used in industrial, commercial and residential facilities. Industrial usage of transfer switches is very high. Thus, growing industrial, commercial and residential activities will further boost the demand for transfer switches. In developing countries, power distribution infrastructure is still not perfect, which has led to rise in demand for transfer switches in these countries. However, lack of awareness among developing regions and the need for regular maintenance could hamper the growth of transfer switch market. Rising demand for uninterrupted power and adoption of smart grid technology across the globe provides a good growth opportunity for transfer switches market. Hence, excellent growth trajectory is predicted for transfer switches market during the forecast period.
Some of the key players in transfer switches market areABB Ltd., General Electric, Cummins Inc., Emerson Electric Company, Eaton Corporation Plc., Kohler Power Company, Marathon Thomson Power System, and Generac Power Systems Inc., among others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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