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Bypass Switch Market Trends

  • Report ID: GMI9253
  • Published Date: Apr 2024
  • Report Format: PDF

Bypass Switch Market Trends

Bypass switch integration with smart technology is becoming more and more prevalent as more devices are connected to the Internet of Things (IoT). IoT-enabled bypass switches can provide remote management and monitoring, enabling IT specialists and facility managers to control and monitor their power systems from any location. This integration decreases the requirement for on-site maintenance, increases operational efficiency, and speeds up system response times. Bypass switches are playing a bigger part in energy management systems as companies look for ways to optimize and control their energy use. Businesses can track and manage power usage more effectively by using the valuable data that energy monitoring bypass switches can provide. The incorporation of increasingly complex sensors and analytics capabilities into bypass switches is being driven by this trend.

The rapid expansion of electric vehicle (EV) charging stations as part of the global push toward electrification of transport also presents a new market for bypass switches. According to an IEA Report, France installed over 74,000 slow chargers and 9,700 fast chargers in 2022. In EV charging stations, bypass switches are crucial for maintaining power supply continuity and safety, particularly during maintenance operations or power system upgrades. Bypass switches in these installations ensure that maintenance or upgrades can be performed without disrupting the charging process, which is crucial for station operability. As more electric vehicles hit the road, the need for reliable & continuous power supply at charging stations becomes more critical, driving the demand for advanced bypass switches that can handle high currents and voltages typical of EV charging.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size for bypass switch was valued at over USD 2 billion in 2023 and will grow at over 6.5% CAGR between 2024 and 2032, driven by the expansion of data centers.

The automatic switches mode of operation segment in the bypass switch industry will grow at over 6.5% CAGR from 2024 to 2032, as they can be controlled remotely and configured to respond automatically.

Asia Pacific market held a revenue share of over 30% in 2023 and will grow rapidly till 2032, due to promotion of renewable energy projects.

ABB Ltd., Siemens AG, Eaton Corporation plc, Siemens AG, RAD Data Communications Ltd., Schneider Electric, and ARIA Technologies Inc. among others.

Bypass Switch Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 285
  • Countries covered: 21
  • Pages: 250
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