Transfer Switch Market Research Report: Information, by Type (Automatic transfer switch and manual transfer switch), Ampere Rating (20A-300A, 301A-1600A and 1601A-4000 A), Transition Mode (Soft load transition mode, closed transition mode, delayed transition mode and open transition mode), Application (Industrial, commercial and Residential) and Region (North America, Europe, Asia-Pacific, the Middle East & Africa and South America) - Forecast till 2030

Transfer Switch Market Overview:

Transfer Switch Market is projected to be worth USD 2.02 billion, registering a CAGR of 6.40% during the forecast period (2022 - 2030). The market was valued at USD 1.52 billion in 2020.

The only major factor is uninterrupted power supply which has increased the demand for the transfer switch in the market. Abu Dhabi Investment Authority (ADIA) has invested $495 in Greenko Energy Holdings (India) to set a power storage project which will have a power capacity of 2.4GW and it has provided the power to many households and various industries. This has given a ray of hope to many other countries as well that can project and provide uninterrupted power with this technology and can increase the back-up. Chinese companies invested for the same cause with the pipeline worth $78.1 billion and have seen significant growth of the Transfer Switch Market.

COVID-19 Analysis for Transfer Switch Market:The pandemic has hit the electronic industries so intensely. The Transfer Switch Market was gaining a lot of momentum in the global market. After the first lockdown wave, there was an unevenness in the market that led to the severe downfall. The outbreak of the COVID 19 global pandemic is also negatively influenced the global inflows overall. The most vulnerable areas of service owing to the adverse effects of coronavirus are chemicals, aircraft, automobiles, and the field of electronics as well. 

The COVID 19 has both short long-term impacts that lead to the crisis on the industry chain, especially on the market channels. The volume value and the prices of the market have dipped during the pandemic. The main restraint was that the regular maintenance of the device has been hampered and that too made it a severity at a global level and impacted the Transfer suit for distributors and manufacturers. Several small-scale industries have landed during this time and have given a boost to the demands as well and now it is developing more amongst the local regions as well.

Transfer Switch Market Competitive Landscape:The abundant claims in different end-use sectors have increased the demand for the Transfer Switches. The growth of the Global Transfer Switch Market is dependent on the rise of power utilities and generator backup power supplies. The organic and inorganic growth strategies have been launched in the Transfer Switch market and this has been seen so fiercely in this forecast. The organic strategies to grow the Transfer Switch Market are new product launches, product approvals, and others such as patents and organizing events to make the product expansion in the market. On the other hand, the inorganic growth strategic activities are witnessed in the market by the acquisitions, and partnerships & collaborations. The strategies like this paved the way for the Transfer Switch Market for the expansion of business and the end-users are also paying more interest that is giving the market players significant competition.

Companies who are engaged in providing the latest technology with the best quality of products will rise with their appreciable performance and constant growth. Below are the Key Players of the complete competitive landscape of the Transfer Switch Worldwide Market:

• ABB (Switzerland)


• Siemens (Germany)


• Eaton (Ireland)


• General Electric (US)


• Emerson Electric Co. (US)


• Socomec (France)


• Cummins (US)


• Eltek Power Systems (South Korea)


• Schneider Electric (France)


• Generac Power System (US)


• Caterpillar Inc. (US)


• Kohler Co. (US)


• Russelectric (US)


• Camsco Electric Co. (Taiwan)


• Regal Beloit (US)


• Eltek Power Systems (South Korea)

Transfer Switch Market Dynamics:

The demand for Transfer Switches has been growing rapidly due to ample usage in the different sectors that are industrial, commercial, and residential facilities. The most usage is in the industrial sector and is still for developing with the increase in the demand for uninterrupted power.

Drivers:

• Growing demand for continuous and steady power supply


• Increasing adoption of smart grid technology

Restraints:

• Require regular maintenance

Challenges:

The Transfer Switch is required or the end-user and is needed for the continuous power supply. The generator needs to be purchased along with the Transfer Switch.  The transfer switch may cost less when purchased with the generator. Also, now with the upgraded technique, it is preferred that the ATS should stay connected until utility power drops out.

Technology Analysis:The industries that are trusted for the power solutions have given the best products and for that matter, the Transfer Switch Market and the ATS have given the maximum benefits to the stalk holders.

Most of the top brands offer a wide selection of automatic transfer switches (ATS) and the Transfer Switches ranging from 160 to 1600 Amperes. Due to its great features and better functionality, it has been a suitable device for various applications like industrial plants, docks, airports, data centers, hospitals, factories, and a wide range of other facility types. Thus, it requires continuous power sources such as a generator or a backup utility feed when their normal power source becomes unavailable. So, the Transfer Switch is a setup for all diverse industries.

Transfer Switch Market Segment Overview:

This report has classified the market into different segments based on type, ampere, transition mode, and application. The below segments have made the study and the analysis of the market more understandable in the terms of growth and viable opportunities for the market. The market forecast will always depend more upon the topography of the region.

By Type:

• Manual


• Automatic Transfer Switch

By Energy:

• Low (less than 300A)


• Medium (300A-1600A)


• High (more than 1600A)

By Application:

• Residential


• Commercial


• Industrial

By Transition Mode:

• Open Transition Mode


• Closed Transition Mode


• Soft Load Transition Mode


• Delayed Transition Mode

By Geography:

• North America (NA) – US, Canada & Rest of North America


• Europe (EU) – UK, Germany, France & Rest of Europe


• Asia Pacific (APAC) – China, Japan, India & Rest of APAC


• Latin America (LA) – Brazil & Rest of Latin America


• Middle East & Africa (EMEA) – Middle East and Africa

Transfer Switch Market Regional Analysis:

In this report, an overview of qualitative and quantitative information has been provided for the market and usage in the industries. At a global level, the market size and the forecast estimates have been changed since 2017 till now. The major regions to develop and provide market higher values of shares are North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (EMEA), and South America. Global Transfer Switch Market by each region is later sub-segmented by respective countries and segments.

Recent Developments in Transfer Switch Market:

The rise in the market is attained by the adoption of the GRID TECHNOLOGY and increasing investments in the technology, due to which the global market for Transfer Switches have sustainably grown, Especially countries like the US, India, and China have contributed the most in the market to make this technology work and has provided it to several other countries as well. It has given a positive and a very fruitful result to the Global Transfer Switches Market.

In industries, commercial sectors, and the residential sectors we have a rapid increase, and dependence on electric generators and uninterrupted power supply has made supplementary benefit to the market across various regions. Also, the government policies to pertain to the operationality of the device safety with heating ventilation and air conditioning has further stimulated the market growth. The enhanced product variants and more efficient devices will propel the market as the market growth has been increased with other factors that resulted in the focus on the research and development (R&D) activities to develop enhanced product variants.

The Transfer Switch is an electromechanical device that is used to interchange load between two powers mechanically or electronically. It provides uninterrupted power between the multiple power sources. Also, it helps in rapid transition between the sources and maintains stability as well. However, Automatic Transfer Switches (ATS) can immediately turn over to the generator power and will not require any external input.

Report Overview:

Global Transfer Switch Market Analysis study and research show a focus of the global market trend analysis. The report aims to provide an optimum overview of Transfer Switch with detailed market segmentation by type, transition mode, ampere rating, and application. It also analyzed the factors affecting the Transfer Switch Market from both ends be it demand or the supply side and further evaluated the market dynamics affecting the market during the forecast period i.edrivers, restraints, opportunities, and recent developments.