Transfer Switch Market Size, Share & Industry Analysis, By Type ( Automatic Transfer Switch, Manual Transfer Switch ), By Application ( Residential, Commercial, Industrial ) and regional Forecast, 2024-2032

Region :Global | Report ID: FBI104023 | Status : Ongoing

KEY MARKET INSIGHTS

Rapid urbanization and industrialization have increased the demand for uninterrupted power supply. Frequent power outage causes a loss in productivity. In a bid to avoid power outage, several companies are installing back-up generator system for reliable power supply. All generators require a transfer switch to divert power from the utility company to the back-up generator in the event of a power outage. A transfer switch is essential in safely diverting electricity supply from the utility company to the back generator. Several institutions like hospitals, government buildings, commercial plazas, and schools are equipped with a power generator for reliable and uninterrupted power supply. Henceforth, the transfer switch is essential in safely handling power supply in case of a power outage.

The transfer switch market segmented based on type and application. Type is further bifurcated into an automatic transfer switch (ATS) and manual transfer switch. The automatic transfer switch dominates the market due to its prompt response in case of a power outage or variation in supply. A residential and industrial sector may account for the largest market share the high installation of the generator system.

The massive economic growth throughout the world has increased the demand for uninterrupted power supply in a bid to combat frequent power outage, many industries, and residential towers adopting a back-up generator. In recent times, information and communication technology flourishing across the world which require a continuous power supply that may boost the market. Transfer switch requires frequent maintenance for the reliable operation that may inhibit the growth of the market.

Key Market Driver -

High demand for uninterrupted power supply and extensive installation of generator

Key Market Restraint -

Frequent maintenance

Key Players Covered:

Some of the leading conglomerates in the transfer switch market are GE, Generac Power Systems, Siemens, Briggs & Straton, Schneider Electric, Eaton, Cummins Inc., ABB, Kohler Power, Caterpillar Inc., and Camsco Electric Co., Ltd among others.

Regional Analysis:

The global transfer switch market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America forecasted to exhibit robust growth owing to large scale adoption of emergency back power, i.e., generator. Many industries and commercial buildings own back-up power system to avoid any power outage. Also, the expansion of information and communication technology, which requires an uninterrupted power supply, may offer lucrative growth for the market. In Europe, transfer switches gaining momentum in residential and industrial sectors. Germany, UK, Italy, France, and Russia, among others, are massively investing in microgrid infrastructure and renewable energy that would help to leverage the transfer switch market. The emerging economies in APAC, such as India, China, and Japan, among others, exhibit high potential for the transfer switch market. Increasing demand for uninterrupted power supply from residential and industrial sectors may boost the market in APAC. In the Middle East & Africa, UAE, Saudi Arabia, and Qatar, among others, extensively investing in district cooling projects. For the reliable and uninterrupted power supply, several companies adopting a generator in which transfer switch is essential for efficient operation.

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Segmentation

ATTRIBUTES	DETAILS
By Type	Automatic Transfer Switch Manual Transfer Switch
By Application	Residential Commercial Industrial
By Geography	North America (USA and Canada) Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe) Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific) Latin America (Brazil, Mexico and Rest of Latin America) Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

Key Industry Developments

In December 2018, Aggreko secured a $200 million Tokyo Olympics power contract to supply a temporary power supply for the event.

In June 2018, ABB recently unveiled an updated version of 1600A Cyberex Super Switch 4. It provides safety for data centers with its user-friendly interface, improved serviceability, and superior system performance.

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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