The US market is estimated at $380 million, while China is expected to grow at a CAGR of 7.2%

transfer switch market

DUBLIN, April 17, 2024 (Globe Newswire) — “Transfer Switches – Global Strategic Business Report'' added. ResearchAndMarkets.com Recruitment.

The global transfer switch market, estimated at USD 1.6 billion in 2023, is projected to reach a revised size of USD 2.5 billion by 2030, at a CAGR of 5.7% over the analysis period 2023-2030. grow in

Automatic transfer switches, one of the segments analyzed in the report, is expected to register a CAGR of 6% and reach USD 2.1 billion by the end of the analysis period. The growth of the manual transfer switch segment is estimated at 3.9% CAGR over the next eight years.

The US transfer switch market is estimated to be USD 380 million in 2023. China, the world's second largest economy, is expected to reach a projected market size of USD 596.5 million by 2030, trending at a CAGR of 7.2% YoY. The analysis period is from 2023 to 2030.

Other notable geographic markets include Japan and Canada, which are expected to grow by 3.5% and 4.3%, respectively, from 2023 to 2030. Among Europe, Germany is projected to grow at a CAGR of approximately 3.8%.

Key attributes:

Main topics covered:

I. Methodology

II. Executive Summary

1. Market overview

• Insights into the influencer market

• Global market trajectory

• Transfer Switch – Prelude

• Classification of transfer switches based on switch type

• Classification of transfer switches based on transition mode

• Classification of transfer switches based on ampere rating

• Main application areas of transfer switch

• Transfer Switch: Current Market Scenario and Outlook

• Automatic Transfer Switches (ATS): the largest and fastest growing product type

• Manual transfer switch remains in race condition

• Developing regions showing the fastest growth and emerging as major consumers

• Global Transfer Switch Market by Regions (2019 & 2025): Developed and Developing Regions Revenue Share

• Global Transfer Switch Market – Geographic Regions Ranked by CAGR (Revenue) % from 2018 to 2025: China, Asia Pacific, Latin America, Middle East, Africa, United States, Canada, Europe, Japan

• Economic scenario and impact on the transfer switch market

• Industrial sector: Main consumers

• competitive scenario

• Recent market activity

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2. Focus on selected players

• ABB Corporation

• briggs and stratton corporation

• Cummins Co., Ltd.

• Eaton Corporation Co., Ltd.

• Generac Power Systems, Inc.

• GE power

• Kohler Power Systems

• Legal Beloit Corporation

• Schneider Electric SE

• ASCO Power Technologies

• Socomec Co., Ltd.

• Vertive Group Co., Ltd.

• Belkin International Co., Ltd.

• Cummins Co., Ltd.

• Schneider Electric APC

• GE Grid Solutions

• Raritan Americas, Inc.

• Generac Power Systems, Inc.

• Luminous Power Technologies Private Limited

• connecticut electric company

• Camsco Electric Co., Ltd.

• caller power group

• rex products

• ASCO Power Technologies

• Meiji Electric Philippines Co., Ltd.

• atomic group.

3. Market trends and drivers

• Demand for continuous power supplies increases around the world, increasing demand for transfer switches

• Projected global electricity demand (MWh): 2015, 2020, 2025, 2030, 2035

• World primary energy consumption (in billion Tu): growth trajectory from 1990 to 2040

• World Energy Consumption by Country/Region (Thu Billion) (1995, 2017, 2040): Breakdown of US, China, India, Russia, Brazil, EU, Middle East and Rest of the World

• Increased investment in smart grids accelerates market adoption

• Global spending on smart grid infrastructure in 2019, 2021 and 2023 (US$ billion)

• New opportunities identified in the renewable energy sector

• Global solar power market: solar power capacity (GW) and power generation (TWh) in 2017, 2019, 2021 and 2023

• Demand is expanding due to an increase in the number of weather-related power outages

• Cost of load failure due to power outage/outage (by specific commercial activity, US$ per hour)

• Loss due to power outage as a percentage of sales of affected companies

• Urban sprawl helps market expansion

• World urban population (millions): 2000-2050

• Growth in construction industry drives transfer switch market

• Global urbanization: urban population as a percentage of total population by geographic region in 2000, 2020, and 2050

• Global construction industry: CAGR percentage of construction output by region, 2013-2017 and 2018-2023

• Steady momentum in global mining drives market growth

• Global Mining by Material Category: Snapshot

• Transfer switches enhance their role in data center electrical infrastructure

• Reviews of selected new and upcoming mega data center projects

• Transfer switches bring relevance to airport electrical infrastructure

• Strong opportunities for transfer switches in portable generator applications

• Disaster response departments rely on generators to ensure power supply during power outages

• Standby system requirements expand transfer switch use cases

• Toggle switches in the oil and gas industry: essential to prevent downtime

• Lack of power infrastructure in developing regions drives demand for transfer switches

• Aging infrastructure in developed countries stimulates demand

• Technological innovation and development continues to expand the addressable market

4. Global market perspective

For more information on this report, please visit https://www.researchandmarkets.com/r/smlc24.

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