Scope of the Study
Transfer switch, an electrical device that switches load between two power sources including utility power and generator power. These switches supply immediate transition between two or more power sources that helps in continuous power supply when power goes off. Favorable government initiatives pertaining to operational safety coupled with surging demand for HVAC networks across industries will offer lucrative opportunity in the growth of the transfer switch market. Moreover, evolving technological precision favored by escalating industrial expenditure will drive the demand for a reliable and safe operating environment across industries.
The market study is being classified by Type (Automatic and Manual), by Application (Industrial, Commercial and Residential) and major geographies with country level break-up.
ABB Ltd. (Switzerland), General Electric (United States), Cummins Inc. (United States), Emerson Electric Company (United States), Eaton Corporation PLC. (Ireland), Kohler Power (United States), Marathon Thomson Power System (Canada), Generac Power Systems (United States), Camsco Electric (Taiwan), Mitsubishi Electric (Japan), MTS Power Products (United States), Schneider Electric (France), Caterpillar (United States) and Siemens AG (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Eltek Power Systems (Norway), Dynagen Technologies (Canada), Reliance Controls Corporation (United States), Socomec (France) and Lex Products (United States).
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Transfer Switch market throughout the predicted period.
Segment Analysis
AdvanceMarketAnalytics has segmented the market of Global Transfer Switch market by Type, Application and Region.
On the basis of geography, the market of Transfer Switch has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Transition Mode Type, the sub-segment i.e. Open Transition Transfer Switch will boost the Transfer Switch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Ampere Type, the sub-segment i.e. 0-300A will boost the Transfer Switch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Demand for Steady & Uninterrupted Power Supply Across the World
- Continuously Growing Real Estates Sector and Increasing Demand of Electricity
Market Trend
- Rapid Adoption of Smart Grid Technology
- Increasing Popularity of Microgrid Networks Worldwide
Restraints
- Lack of Awareness of the Application of Transfer Switch in Emerging Economies
- Need Regular Maintenance
Opportunities
- The Growth in Urbanisation and Industrialisation in Both Developing and Developed Countries
- Reimbursement of Old Power Grid & Transmission System
Challenges
- Requires Seismic Test & NFPA Approval
Key Target Audience
Transfer Switch Manufacturers, Product Suppliers/Distributors, Raw Material Suppliers, End User and Others
Customization in the Report Available:
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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