Market Overview:
The global transfer switch market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for automatic and manual transfer switches from industrial, commercial, and residential applications. Additionally, the growing demand for reliable power supply systems is also fueling the growth of the global transfer switch market.
Product Definition:
A transfer switch is a device used to connect two electrical circuits. It allows one circuit to be disconnected from an energized source and connected to another source.
Automatic:
An automatic transfer switch is a safety device used to safely connect and disconnect power from an electric supply source. They are widely used in industries such as oil & gas, chemicals, pulp & paper and food processing owing to their ability to operate without human intervention.
The global automatic transfer switch market size was valued at USD 1.6 billion in 2016.
Manual:
Manual transfer switches are used to change the electrical load from one circuit to another. These switches are widely used in industries such as manufacturing, power plants, and construction. The working principle of these devices is based on a lever system or solenoid system which consists of two conductors connected by an armature through a magnetic field. The current flow between the two terminals changes according to the position of the armature which controls electricity usage in various applications.
Application Insights:
The market is segmented by application into industrial, commercial and residential. The industrial transfer switch market was dominated by North America in 2017 owing to the presence of major electrical utilities in the region. Industrial applications include power generation plants, oil & gas facilities, pulp & paper mills and steel manufacturing facilities among others. These industries require a large number of electricity boards for their operations as they are highly automated and require multiple switching devices connected via transfer switches to control numerous loads at one time. Transfer switches are used extensively across these industries as they automate routine tasks such as load-leveling that would otherwise be performed manually thereby increasing productivity and efficiency across these sectors globally over the forecast period.
Regional Analysis:
Asia Pacific is expected to be the largest regional market over the forecast period. The region’s growth can be attributed to increasing industrialization and rising adoption of automation across various industries in countries, such as China, India, Japan and South Korea. In addition, growing commercial construction activities in emerging economies are also anticipated to drive the demand for global transfer switches market over the forecast period.
The Asia Pacific was followed by Europe with a revenue share of around 25% in 2017 owing to high demand from residential applications for lighting systems and other appliances that consume large amounts of energy on a daily basis. Moreover, technological advancements related to power distribution are further expected fuel regional product demand during the forecast period.
Growth Factors:
- Increasing demand for uninterrupted power supply: The Transfer Switch market is witnessing increasing demand from various industrial and commercial sectors for uninterrupted power supply. This is driving the growth of the market.
- Growing investments in data centers: The Transfer Switch market is witnessing growing investments in data centers, which is fueling the growth of the market.
- Rising number of electrical outages: The number of electrical outages across the globe is rising, which is leading to an increase in demand for transfer switches as a backup solution, thereby propelling the growth of this market.
- Proliferation of smart grids: Smart grids are helping to improve grid reliability and efficiency, which is resulting in an increase in adoption rates of transfer switches, thereby driving this market’s growth prospects further upward. 5) Technological advancements: Ongoing technological advancements are resulting in innovative products being launched into the Transfer Switchmarket, thus providing impetus to itsgrowth prospects
Scope Of The Report
Report Attributes
Report Details
Report Title
Transfer Switch Market Research Report
By Type
Automatic, Manual
By Application
Industrial, Commercial, Residential
By Companies
ABB, General Electric, Emerson, Socomec, Cummins, Schneider Elect, Eaton, Siemens, Eltek, Generac, ABB, Caterpillar, Kohler, Camsco, Marathon Thomson Power System
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
175
Number of Tables & Figures
123
Customization Available
Yes, the report can be customized as per your need.
Global Transfer Switch Market Report Segments:
The global Transfer Switch market is segmented on the basis of:
Types
Automatic, Manual
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Industrial, Commercial, Residential
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- General Electric
- Emerson
- Socomec
- Cummins
- Schneider Elect
- Eaton
- Siemens
- Eltek
- Generac
- ABB
- Caterpillar
- Kohler
- Camsco
- Marathon Thomson Power System
Highlights of The Transfer Switch Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Automatic
- Manual
- By Application:
- Industrial
- Commercial
- Residential
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Transfer Switch Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A transfer switch is a device that allows you to move electrical power between two or more circuits. This can be helpful if you have an excess of one type of electricity, and need to use the power in another circuit.
Some of the key players operating in the transfer switch market are ABB, General Electric, Emerson, Socomec, Cummins, Schneider Elect, Eaton, Siemens, Eltek, Generac, ABB, Caterpillar, Kohler, Camsco, Marathon Thomson Power System.
The transfer switch market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Transfer Switch Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Transfer Switch Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Transfer Switch Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Transfer Switch Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Transfer Switch Market Size & Forecast, 2020-2028
4.5.1 Transfer Switch Market Size and Y-o-Y Growth
4.5.2 Transfer Switch Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Automatic
5.2.2 Manual
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Industrial
6.2.2 Commercial
6.2.3 Residential
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Transfer Switch Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Transfer Switch Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Automatic
9.6.2 Manual
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Industrial
9.10.2 Commercial
9.10.3 Residential
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Automatic
10.6.2 Manual
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Industrial
10.10.2 Commercial
10.10.3 Residential
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Automatic
11.6.2 Manual
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Industrial
11.10.2 Commercial
11.10.3 Residential
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Automatic
12.6.2 Manual
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Industrial
12.10.2 Commercial
12.10.3 Residential
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Automatic
13.6.2 Manual
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Industrial
13.10.2 Commercial
13.10.3 Residential
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Transfer Switch Market: Competitive Dashboard
14.2 Global Transfer Switch Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 General Electric
14.3.3 Emerson
14.3.4 Socomec
14.3.5 Cummins
14.3.6 Schneider Elect
14.3.7 Eaton
14.3.8 Siemens
14.3.9 Eltek
14.3.10 Generac
14.3.11 ABB
14.3.12 Caterpillar
14.3.13 Kohler
14.3.14 Camsco
14.3.15 Marathon Thomson Power System
