Selbyville, Delaware,, Nov. 12, 2023 (GLOBE NEWSWIRE) --
The automatic transfer switch market valuation is expected to reach USD 2.5 billion by 2032, as reported in a research study by Global Market Insights Inc.
As reliability and the need for uninterrupted power supply is at the forefront of today's world, the adoption of automatic transfer switches (ATS) is on the rise. Businesses and critical infrastructure heavily rely on power to function, even a momentary power disruption can result in significant financial losses and safety risks. Moreover, the increasing occurrence of extreme weather events, grid instability, and an expanding data center sector are further propelling the demand for reliable power transfer solutions. ATS systems play a pivotal role in ensuring business continuity and safeguarding sensitive equipment by rapidly switching between power sources, thereby reducing downtime and minimizing losses.
The automatic transfer switch market from circuit segment will grow significantly through 2032 as the switching mechanism provides a robust and efficient way of switching power sources. Circuit based ATS systems offer enhanced control, flexibility, and customization options. They are more durable and have a longer lifecycle compared to other switching mechanisms, making them the preferred choice for critical applications. These are smart ATS systems that enable remote monitoring and control, thereby enhancing overall power management capabilities.
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Closed transition segment is anticipated to witness substantial growth during 2023 to 2032 as it ensures a seamless transition between power sources without any momentary power interruptions. In applications where even the briefest power outage is unacceptable, such as healthcare facilities or data centers, closed transition ATS systems are becoming increasingly popular. These systems synchronize both power sources before making the transfer, eliminating the risk of inrush currents and ensuring a continuous and stable power supply. Closed transition switching is gaining prominence as businesses increasingly prioritize power quality and reliability.
Europe automatic transfer switch market will record strong CAGR from 2023 to 2032 as the region continues to make heavy investments in modernizing the power infrastructure with a focus on reducing greenhouse gas emissions and enhancing energy efficiency. This has led to increased adoption of ATS systems, as they play a crucial role in managing and transferring power efficiently. Furthermore, the region's extensive industrial and commercial sectors, combined with stringent regulations regarding power reliability, are driving the demand for ATS solutions in Europe.
Some of the key players in the global automatic transfer switch market are AEG Power Solutions, General Electric, Schneider Electric, Vertiv Group Corp, ABB, Kohler Co., Cummins Inc., Siemens, Caterpillar, Briggs & Stratton, Eaton, One Two Three Electric Co. Ltd, Generac Power Systems, Inc., and Global Power Supply, LLC. These companies are working on strategies like partnerships, new product launches, and mergers to have a strong standing in the market.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Automatic transfer switch industry 3600 synopsis, 2019 - 2032
Chapter 3 Automatic Transfer Switch Market Insights
3.1 Industry ecosystem analysis
3.1.1 Vendor matrix
3.2 Regulatory landscape
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 COVID- 19 impact on the industry outlook
3.5 Growth potential analysis
3.6 Porter's Analysis
3.7 PESTEL Analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
