Pune, India, August, 2018 /MRFR Press Release/- Market Research Future published a Half-Cooked Research Report on Global Transfer Switch Market.
The transfer switch market size is projected to reach USD 1,667.1 Million by 2025 from an estimated USD 991.0 million, at a CAGR of ~6.34%. The transfer switch is an electric switch that switches a load among two power sources, including generator and utility power. The switch provides an easy method of transferring power supply from the grid to the generator. There are two types of transfer switch, namely, automatic transfer switch and manual transfer switch.
GLOBAL TRANSFER SWITCH MARKET, 2019–2025
Asia-Pacific held the largest share of the global transfer switch market in 2018: MRFR
The global transfer switch market has been segmented into five regions, which are Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. The market in Asia-Pacific held the largest share of the global transfer switch market in 2018, mainly due to increasing investments in power distribution, rising investments in smart grid development, demand for automotive electronics, and high growth in construction sector. The market in the region is also expected to be the fastest growing during the forecast period. The region is also expected to be the fastest growing market during the forecast period. Within Asia-Pacific, China is likely to hold the largest share during the forecast period owing to the increased investment in power sector. Similarly, countries such as Japan, India, and Australia are witnessing a growth in power distribution infrastructure. In 2018, power demand in India increased by 8% to 177 GW and is expected to reach 330-441 GW by 2040.
The market in North America is expected to be the second largest owing to an increase in the replacement demand for existing grid infrastructure. The US market is expected to dominate the North America market during the forecast period. Europe is also expected to grow at a significant rate owing to many advanced technologies being introduced by some of the key players in Europe such as Siemens, Schneider Electric, and ABB. Germany is expected to dominate in Europe due to new transfer switch projects coming up, especially designed for automotive systems. Similarly, countries such as Saudi Arabia and Brazil are the two economies, which are expected to dominate the Middle East & Africa and South America, respectively
On the basis of type, the global market is segmented as automatic transfer switch and manual transfer switch. The automatic transfer switch segment is expected to dominate the market during the forecast period as it immediately switches whenever there is a shortage or fluctuation in power. On the basis of ampere rating, the global market is segmented as 20–300 a, 301–1600 a, and 1601–4000 a. The 301–1600 a segment is expected to segment is expected to dominate the global market during the forecast period. Rapid industrialization and large-scale commercial development are expected to increase the demand of transfer switches within the 301–1600 a ampere rating. On the basis of application, the global market has been segmented as industrial, commercial, and residential. The industrial segment is expected to dominate the global pip laying vessel market during the forecast period.
The global transfer switch market is expected to grow with a ~6.34% CAGR during the forecast period.
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Scope of the Report
This report provides an in-depth analysis of the global transfer switch market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and share for North America, Asia-Pacific, Europe, the Middle East & Africa, and South America. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global transfer switch market by type, ampere rating, transition mode, application, and region.
The key players operating in the global transfer switch market are The key players operating in the global transfer switch market are ABB (Switzerland), Eaton (Ireland), Schneider Electric (France), General Electric (US), Socomec (France), Emerson Electric Co. (US), Camsco Electric Co. (Taiwan), Eltek Power Systems (South Korea), , Generac Power System (US), Siemens (Germany), Caterpillar Inc. (US), Kohler Co. (US), Russelectric (US), Camsco Electric Co. (Taiwan), and Regal Beloit (US).