Maharashtra, India -- (SBWIRE) -- 02/05/2019 -- Transfer Switches Market
Summary
This report studies the Transfer Switches market. The transfer switch (TS) is an electrical device that allows the transfer of power sources to the load. This superior switching methodology means that if one power source fails, the TS switch connects the load to the back-up power source. The switch market comprises of two transfer switches, namely the automatic transfer switch (ATS) and manual transfer switch (MTS).
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The worldwide market for Transfer Switches is expected to grow at a CAGR of roughly 5.8% over the next five years, will reach 1100 million US$ in 2024, from 780 million US$ in 2019.
Scope of the Report:
Sudden brownouts and voltage fluctuation, outages, blackouts, and uncertain weather conditions have led to the increase in demand for transfer switch in the market. The growing dependence on power and critical application in industries, commercial institutions, healthcare, transportation, and households is the driving factor for transfer switch market.
The Asia-Pacific transfer switch market held the largest market share in 2016. The market in China accounts the Second share in this region. Rapid industrialization is driving the market growth in this country. Also, some of the world's largest transfer switch manufacturers are present in China.
The need for the installation of transfer switch is more seen in the industrial sector as most of the industrial end users rely on continuous power. The sector comprises mainly power rental companies, utilities, telecom & IT (datacenters) and construction & manufacturing, mining industries, oil & gas, automotive, & pharmaceuticals industries. In terms of value, the industrial segment accounted for the largest share in the global transfer switch market, followed by commercial and residential.
Market Segment by Manufacturers, this report covers
Vertiv
GE
Eaton
Cummins
KOHLER
ABB
Briggs & Stratton
GENERAC
Socomec
Thomson Power Systems
Market Segment by Type, covers
Automatic Transfer Switches
Manual Transfer Switches
Market Segment by Applications, can be divided into
Industrial
Commercial
Residential
Key Regions for this market: North America, Europe, APAC, Latin America, and the Middle East & Africa.
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Major Features:
The report provides a thorough analysis of some of the significant factors, which include cost, capacity, capacity utilization rate, production, revenue, production rate, consumption, import/export, supply/demand, gross, market share, CAGR, and gross margin. Besides, the report provides a comprehensive study of the key influencing factors and market inclinations, in addition to the relevant market segments and sub-segments.
Technological Advancements
The latest and advanced technologies used in the Transfer Switches Market can be helpful for collaborative seminars, meetings, lectures, and training for industry professionals. Furthermore, in order to introduce advanced products or solutions, leading competitors are expected to concentrate on product innovation through continuous investments in product development.
Key Benefits:
1.The research report provides a detailed analysis of the Transfer Switches Market along with the current and future growth prospects so as to shed light on the prominent investment pockets.
2.Information regarding key growth factors, constraints, and opportunities, along with their impact analysis on the Transfer Switches Market is provided.
3.Porter's fives forces analysis elaborates the effectiveness of buyers and suppliers operating in the market, globally and regionally.
4.The qualitative and quantitative analysis of the market from 2019 to 2024 is provided to put forth the market potential.
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Overall, this Transfer Switches market research report depicts thorough overview of the market, which, in turn, will help the industry participants, consultants, equipment manufacturers, as well as the existing key players searching for potential growth opportunities and the stakeholders to align their market-centric strategies in view of the on-going and projected trends in the coming years.
Key questions answered in the report include:
What will the market size and the growth rate by the end of the forecast period?
What are the key industry trends impacting the growth of the market?
What are the key factors driving and restraining the Transfer Switches market?
What are the challenges to market growth?
What are the market opportunities and threats faced by the key players in the market?
Who are the leading competitors functioning in the market for Transfer Switches?
What are the key outcomes of Porter's five forces analysis of the Transfer Switches market?
Conclusion:
The report concludes with the profiles of major players in the Transfer Switches Market. The foremost market performers are accessed on the basis of various parameters such as company overview, product portfolio, and do on., as well as the latest development trends of the Market.
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