The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Growing demand for a consistent and continuous power supply is likely to encourage innovation in transfer switch production, boosting the market during the forecast period.

The global transfer switch market is expected to grow from $1.56 billion in 2022 to $1.69 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The global transfer switch market size is expected to reach $2.25 billion in 2027 at a CAGR of 7.4%.

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Global Transfer Switch Market Segments Include:

• By Type: Automatic Transfer Switch, Manual Transfer Switch
• By Transition Mode: Soft Load, Closed, Delayed, Open
• By End Use: Industrial, Commercial, Residential
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global transfer switch market in 2021.

Major Market Players in the transfer switch market include ABB Ltd., Siemens AG, Schneider Electric SE, General Electric Corporation, Cummins Inc., Caterpillar Inc., Eaton Corporation PLC., Kohler Co, Regal Rexnord Corporation, Cameco Corporation.

Product innovation has emerged as a major trend that is gaining traction in the transfer switch market. To maintain their market position, major businesses in the transfer switch market are inventing new revolutionary switches. For example, Schneider Electric, a French energy management and automation firm, launched TransferPacT, a new generation of modular intelligent automatic transfer switches, in February 2022. The TransferPacT is a 220V-440V PC class ATSE available in 32A-160A, 2,3,4 poles. It has increased uptime with the use of revolutionary technology that assures transfer rates of less than 500 ms. EcoStruxureTM IoT-enabled solutions collect and analyse ATSE data in real-time, providing operators with proactive maintenance analysis rather than preventive maintenance.

The Transfer Switch Global Market Report 2023  provides a transfer switch market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The transfer switch market forecast analyzes transfer switch market size, transfer switch market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A transfer switch is a switch that secures the connection or disconnection of several power sources to an electric load. This switch alternates between two power sources, such as a main power source and a backup power source. These switches are used to switch between a generator and a grid service, as well as between different generators or grid service entries.

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