Transfer Switch Market By Type (Automatic Transfer Switch and Manual Transfer Switch), Transition Mode (Soft Load Transition Mode, Closed Transition Mode, Delayed Transition Mode, and Open Transition Mode), and End Use (Industrial, Commercial, and Residential): Global Opportunity Analysis and Industry Forecast, 2021–2030
The global transfer switch market size is expected to reach $2.70 billion by 2030 from $1.47 billion in 2020, growing at a CAGR of 6.70% from 2021 to 2030. A transfer switch is the switching device that transfers power from one source to the other, typically the mains power supply and a back-up generator. Transfer switch is used for quickly and safely transitioning all electrical power which is consumed by the circuit, equipment, or systems connected to the transfer switch output between those normal and emergency power sources. They enable homes, commercial businesses, and industrial facilities to make the most of their resources and connect to temporary or supplemental generators.
The prominent factors that impact the transfer switch market growth are surge in usage in power and transmission industries, favorable government policies, and the large-scale renewable integration reforms. However, high costs associate with transfer switch restricts the market growth. On the contrary, high adoption of transfer switch in residential industries is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect global transfer switch industry during the forecast period.
The transfer switch market is segmented on the basis of type, transition mode, end use, and region. By type, the market is bifurcated into automatic transfer switch and manual transfer switch. On the basis of transition mode, it is segregated into soft load transition mode, closed transition mode, delayed transition mode, and open transition mode. Depending on end use, it is separated into industrial, commercial, and residential.
Region-wise, the transfer switch market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is the most attracting market for transfer switch due to the rise of industrial and commercial sectors in the region, especially in countries such as China and India.
Competitive analysis and profiles of the major transfer switch market players, such as ABB Ltd., Cummins Inc., Eaton Corporation, Kohler, Generac Power Systems, General Electric, Schneider Electric, Siemens, Russelectric, and Caterpillar are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications.
Key Market Segments
By Type
Automatic Transfer Switch
Manual Transfer Switch
By Transition Mode
Soft Load Transition Mode
Closed Transition Mode
Delayed Transition Mode
Open Transition Mode
By End Use
Industrial
Commercial
Residential
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
ABB Ltd.
Cummins Inc.
Eaton Corporation
Kohler
Generac Power Systems
General Electric
Schneider Electric
Siemens
Russelectric
Caterpillar
List of Company Profiles
ABB Ltd.
Cummins Inc.
Eaton Corporation
Kohler
Generac Power Systems
General Electric
Schneider Electric
Siemens
Russelectric
Caterpillar
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