The global demand for Transfer Switch Market is presumed to reach the market size of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period 2021 - 2027.
A transfer switch is an electrical device or equipment that switches the load between two power sources and helps in an uninterrupted power supply if any of the sources goes off. It conveys a power supply from its primary source to a backup generator when it senses a failure or outage in the primary source until primary utility power is restored. Transfer switches are either manual or automatic. In manual transfer switches, an operator effects the transfer by throwing a switch. The Automatic transfer switches get triggered when they sense that one of the sources has lost or gained power. The controlling ability of a transfer switch may be manual or a combination of manual and automatic.
World demand for transfer switches is projected to grow with rising sudden blackouts, outages, and voltage fluctuations. Transfer switches provide a quick transition between two or more power sources that helps in an uninterrupted power supply. Thus, increasingly used in various industrial, commercial and residential activities. The rising demand for uninterrupted power supply and the adoption of smart grid technology present opportunities for the market growth of transfer switches. The automatic transfer switches segment is growing at the fastest pace during the forecast period. Automatic transfer switches can constantly monitor the supply power and instantly switch it when a shortage or variation in the power supply is detected. However, low awareness about transfer switches in some regions may act as a restraining factor for the growth of the transfer switches market.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of transfer switch. The growth and trends of transfer switch industry provide a holistic approach to this study.
This section of the transfer switch market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Transition Mode
- Automatic Transfer Switch
- Manual Transfer Switch
- Soft Load Transition Mode
- Closed Transition Mode
- Delayed Transition Mode
- Open Transition Mode
By End-Use Sector
This section covers the regional outlook, which accentuates current and future demand for the Transfer Switch market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Transfer Switch Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the transfer switch market include ABB, General Electric, Cummins, Eaton Corporation, Emerson Electric, Siemens, SOCOMEC Group, Russelectric, Caterpillar, Schneider Electric, Generac Power Systems, Eltek, Camsco Electric Company, Marathon Thomson Power System, DynaGen Technologies, Mitsubishi Electric. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information based on primary and secondary research. Secondary research has been done using various sources, including (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. Additionally, our team conducts extensive primary research with key industry participants to gather first-hand data. The data is then analyzed and validated by industry experts.
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