Key Trends as a Decision Maker You Absolutely Need to Know about the “Transfer Switches” Market
The global market for Transfer Switches will reach US$1.8 billion by 2025 as energy demand is anticipated to pick up pace in the post COVID-19 period and efforts would be gradually refocused on energy efficiency and sustainability.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Transfer Switches market. Report segmentation includes Switch Type (Automatic, Manual); Ampere Rating (0-300A, 301-1600A, 1601-4000A); Transition Mode (Soft Load, Closed, Delayed, Open); and Application (Industrial, Commercial, Residential).
14 June 3:18 A.M., California/Marketwire/ - According to the new market research report, the global market for Transfer Switches is projected to reach US$1.8 billion by 2025, driven by the growing trend of smart grid technology adoption and increasing demand for uninterrupted power. Also driving growth in the market are regulations and guidelines for buildings and electrical networks; ongoing reforms for replacement of traditional power generation technologies with more sustainable sources of energy; and rapid evolution of generator-backed power supply and power utilities. The increased focus on energy efficiency is leading to brisk expansion of smart grid networks in countries across the world, complementing business outlook for transfer switches. In the year 2019 for instance, many major countries in Western Europe, including UK, Sweden, Italy, Germany and France entered into smart grid agreements and set targets for investments of more than US$135 billion for smart grid networks expansion in the countries over the coming few years. Another growth promoting factor is the growing need for a safe and reliable working environment across many industries.
Governments are also implementing more stringent rules for operational safety in industrial environments. Transfer switches which ensure uninterrupted supply of power make operating environments safer for employees and therefore would be deployed increasingly to adhere to the governmental regulations. Market outlook is further boosted with the ongoing reforms in developing countries for increasing FDI (foreign direct investment) opportunities. Growing construction industry; increasing adoption of supplementary power sources across residential, commercial and industrial establishments; sophistication in product designs & functionalities, increasing product efficiencies and rising energy costs are other major factors spurring growth. There is also considerable governmental push towards deployment of transfer switches via programs aimed at increasing awareness regarding operational reliability and safety of transfer switches in power systems, especially in commercial buildings. Governments are also deploying more stringent building codes mandating use of devices that guarantee power safety.
Automatic Transfer Switch (ATS) constitutes the largest and fastest growing product type as it offers immediate and direct switching between supplementary/standby power source and the main (utility) source and vice versa. ATSs are highly valuable to businesses which cannot afford any power interruptions to their vital equipment and tools. The devices are typically used alongside a generator and a tap box. For commercial business, it is an effective method for sustaining access to power during planned and unplanned mechanical maintenances and during times of power outages. An ATS is equipped with the ability to automatically detect outage and instantaneously and seamlessly switch to supplementary power, in milliseconds. This rapid switch eliminates power stutters which usually create complications for industries and businesses. And when power from the utility is restored, the switch automatically reverses and returns power to main source.
Key Competitors Covered in the Report
Briggs & Stratton Corporation
Eaton Corporation Inc.
Generac Power Systems, Inc.
Kohler Power Systems
Regal Beloit Corporation
Schneider Electric SE
Vertiv Group Corporation
Geographies Analyzed in the Report
Europe (France, Germany, Italy, UK, Spain, Russia, Rest of Europe)
Asia-Pacific (Australia, India, South Korea, Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, UAE, Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 4148. Among this pool, 747 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 124 unique participations, a total of 56 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
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