Transfer switch Market Size, Share, Growth Report 2030
Transfer Switch Market was valued at US$ 1.50 Bn. in 2022. Global Transfer Switch Market size is expected to grow at a CAGR of 6.90 % through the forecast period.
Transfer switch is an electrical device that switches load among two power sources including generator and utility power. Transfer switches are either manual or automatic. These switches supply immediate transition between two or more power sources that helps in continuous power supply when power goes off. Transfer switch has many end user applications in residential and industrial sectors.
Rising demand for continuous and steady power supply drives the growth of transfer switch market. Increasing acceptance of smart grid technology in the developed regions also contributes to the growth of transfer switch market. However, lack of implementation and awareness regarding use of transfer switch in developing countries may hinder the market expansion. Moreover, regular maintenance of transfer switch is a major challenge for the transfer switch market. Nevertheless, rapid industrialization and increasing urbanization is expected to provide impetus growth for transfer switch market in the near future.
The report provides a comprehensive view on the transfer switch market we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the transfer switch market has also been included. The study encompasses a market attractiveness analysis, wherein product segments are benchmarked based on their market size, growth rate and general attractiveness. The report also analyzes several driving and restraining factors and their impact on the transfer switch market during the forecast period.
Based on type the transfer switch market is segment as manual and automatic transfer switch. Automatic transfer switch market dominated the transfer switch market owing to continuously observe the supply power and instantly switches when it sense lack or variation in power. Transfer switches are available in different ampere range such as below 300A, in between 300A to 1600A and higher than 1600A. On the basis of transition mode the transfer switch market can be segmented as open, closed, delayed and soft load transition made. Number of applications in transfer switch market includes residential, commercial and industrial. Industrial segment emerged as potential segment due to high end user applications for transfer switch.
Geographically, transfer switch market segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia Pacific accounted for the highest share of overall market owing to rapidly developing trend in industrial and commercial sectors.
Transfer Switch Market Key Players
1. GE
2. Vertiv (US)
3. Generac Power Systems (US)
4. Kohler Co. (US)
5. Cummins Inc. (US)
6. Caterpillar Inc. (US)
7. DynaGen Lending (Canada)
8. Briggs & Stratton (US)
9. Eaton (Ireland)
10. Schneider Electric (France)
11. ABB (Switzerland)
12. Siemens (Germany)
13. AEG (US)
14. ELTEK Group (Norway)
15. Hager Group (Germany)
16. Russelectric, A Siemens Business (US)
The report segments of the transfer switch market into:
Transfer switch Market: Type Segment Analysis
- Manual Transfer Switch
- Automatic Transfer Switch
Transfer switch Market: Ampere based Segment Analysis
- Low (less than 300A)
- Medium (300A-1600A)
- High (more than 1600A)
Transfer switch Market: Transition Mode Segment Analysis
- Open Transition Mode
- Closed Transition Mode
- Soft Load Transition Mode
- Delayed Transition Mode
Transfer switch Market: Application Segment Analysis
- Residential
- Commercial
- Industrial
Transfer switch Market: Regional Segment Analysis
- North AmericaU.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- Middle East & Africa
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