Dublin, April 17, 2024 (GLOBE NEWSWIRE) -- The "Transfer Switches - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Transfer Switches estimated at US$1.6 Billion in the year 2023, is projected to reach a revised size of US$2.5 Billion by 2030, growing at a CAGR of 5.7% over the analysis period 2023-2030.
Automatic Transfer Switches, one of the segments analyzed in the report, is projected to record 6% CAGR and reach US$2.1 Billion by the end of the analysis period. Growth in the Manual Transfer Switches segment is estimated at 3.9% CAGR for the next 8-year period.
The Transfer Switches market in the U.S. is estimated at US$380 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$596.5 Million by the year 2030 trailing a CAGR of 7.2% over the analysis period 2023 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 668 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.6 Billion |
| Forecasted Market Value (USD) by 2030 | $2.5 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Transfer Switches - A 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
- Major Application Areas for Transfer Switches
- Transfer Switches: Current Market Scenario and Outlook
- Automatic Transfer Switch (ATS): Largest and Fastest Growing Product Type
- Manual Transfer Switches Remain in Contention
- Exhibiting Fastest Growth, Developing Regions Set to Emerge as Dominant Consumers
- World Transfer Switches Market by Region (2019 & 2025): Percentage Breakdown of Revenues for Developed and Developing Regions
- World Transfer Switches Market - Geographic Regions Ranked by % CAGR (Revenues) for 2018-2025: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
- Economic Scenario and Its Impact on Transfer Switches Market
- Industrial Sector: Major Consumer
- COMPETITIVE SCENARIO
- Transfer Switches: A Fragmented Marketplace
- Transfer Switches - Global Key Competitors Percentage Market Share in 2023 (E)
- RECENT MARKET ACTIVITY
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
2. FOCUS ON SELECT PLAYERS
- ABB Ltd.
- Briggs & Stratton Corporation
- Cummins, Inc.
- Eaton Corporation Inc.
- Generac Power Systems, Inc.
- GE Power
- Kohler Power Systems
- Regal Beloit Corporation
- Schneider Electric SE
- ASCO Power Technologies
- Socomec, Inc.
- Vertiv Group Corporation
- Belkin international, Inc.
- Cummins, Inc.
- APC by Schneider Electric
- GE Grid Solutions
- Raritan Americas, Inc.
- Generac Power Systems, Inc.
- Luminous Power Technologies Pvt., Ltd.
- Connecticut Electric, Inc.
- Camsco Electric Co., Ltd.
- Kohler Power Group
- Lex Products
- ASCO Power Technologies
- Meiji Electric Philippines, Inc.
- Atomic Group.
3. MARKET TRENDS & DRIVERS
- Increasing Demand for Continuous Power Supply Worldwide Fuels Demand for Transfer Switches
- Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
- Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
- Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
- Rising Investments on Smart Grids Accelerates Market Adoption
- Global Spending on Smart Grid Infrastructure (in US$ Billion) for the Years 2019, 2021, and 2023
- Novel Opportunities Identified in Renewable Energy Sector
- Global Solar Power Market: Solar PV Capacity (in GW) and PV Generation (in TWh) for the Years 2017, 2019, 2021 and 2023
- Rising Number of Weather-related Power Outages Drive Demand
- Cost of Load Failures Due to Power Disruptions/Outages in US$ Per Hour by Select Commercial Activity
- Value Lost Due to Electrical Outages as a % of Sales of Affected Firms
- Urban Sprawl Aids Market Expansion
- World Urban Population in Millions: 2000-2050
- Growth in the Construction Industry to Drive the Market for Transfer Switches
- Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 2000, 2020 & 2050
- Construction Industry Worldwide: Percentage CAGR of Construction Output by Region for the Period 2013-2017 and 2018-2023
- Steady Momentum in World Mining Industry Favors Market Growth
- World Mining Industry by Material Category: A Snapshot
- Transfer Switches Seek to Solidify Role in Data Center Electrical Infrastructure
- A Review of Select New and Upcoming Mega Data Center Projects
- Transfer Switches Gain Relevance in Airport Electrical Infrastructure
- Robust Opportunities for Transfer Switch in Portable Generator Applications
- Disaster Response Sector Relies on Power Generators for Ensuring Power Supply during Outages
- Standby System Requirements Widen Use Case of Transfer Switches
- Transfer Switches in Oil & Gas Industry: Essential to Prevent Downtime
- Lack of Power Infrastructure in Developing Regions Drives the Demand for Transfer Switches
- Aging Infrastructure in Developed Economies Spur Demand
- Technology Innovations & Developments Continue to Widen Addressable Market
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/smlc24
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