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Transfer Switch Market to exceed $1.8bn by 2024

Transfer Switch market size will exceed USD 1.8 billion by 2024, as reported in the latest study by Global Market Insights, Inc.

 

Rising infrastructural spending subject to pervasive commercial and residential establishments across developing economies will stimulate the transfer switch market size. Refurbishment of conventional grid infrastructure along with rapid adoption of advanced monitoring and control units will further augment the industry outlook. In 2017, East spring Investments in Hong Kong, has signed a deal to invest USD 500 million across the emerging economies infrastructure debt, parallel to the International Finance Corporation (IFC).
 

Germany transfer switch market is set to reach over 150 ‘000 units of annual installations by 2024. Rapid industrialization coupled with volant expansion of off-grid networks across the nation will boost the product demand. Ongoing diversification of manufacturing units favored by new establishments will further foster the industry growth. In 2017, Germany announced state funding of over USD 120 billion to support German based suppliers and automakers.
 

 

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Paradigm shift in context to energy conservation along with rising security of supply concerns will embellish the transfer switch market potential. Increasing focus towards energy efficiency favored by briskly expanding smart grid networks will further complement the business outlook. In 2017, Western European countries including Sweden, UK, France, Germany, and Italy have entered a smart grid agreement. The agreement lays investment targets worth USD 133.7 billion subject to the expansion of smart grid networks across the region.
 

The >1600 ampere in 2016, accounted for over 15% of the global transfer switch market. Expansion of high-tension T&D industrial infrastructure along with rapid industrialization across developing regions will positively impact the business landscape. Increasing reforms toward the operational safety coupled with high-end dependency on HVAC industrial networks will further enhance the product penetration.
 

Browse key industry insights spread across 325 pages with 666 market data tables & 12 figures & charts from the report, “ Transfer Switch Market Size By Operation (Manual, Non-Automatic, Automatic, By-pass Isolation), By Switching Mechanism (Contactor, Circuit Breaker {Molded Case, Power Case}), By Transition (Closed, Open {Delayed, In-Phase}), By Ampere Rating (≤ 400, 401 to 1600, >1600), By Installation (Emergency Systems, Legally Required Systems, Critical Operation Power Systems, Optional Standby Systems), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, France, Russia, UK, Italy, Spain, China, Japan, South Korea, India, Australia, UAE, South Africa, Saudi Arabia, Brazil, Argentina), Price Trends, Competitive Market Share & Forecast, 2017 – 2024in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/transfer-switch-market
 

The U.S. transfer switch market will witness strong growth owing to rising investments toward the upgradation of conventional grid infrastructure along with the integration of advance control and monitoring technologies. Expeditious advancements across the rail-road infrastructure propositions endorsed by the peninsula corridor electrification program will embellish the industry share. In 2017, Federal Transit Administration provisioned an investment worth USD 100 million towards the expansion of electrical infrastructure across the California’s rail networks.
 

Favorable government policies pertaining to rural electrification across the Asian and African sub-continent supported by rising investments from private and publicly held financial institutions will embellish the transfer switch market growth. The Asian Development Bank (ADB), and International Finance Corporation (IFC) across the years have continually funded rural electrification campaigns across the regions. Growing demand for electricity coupled with rapid expansion of isolated grid networks will further thrust the product penetration.
 

China transfer switch market will grow on account of ongoing reforms pertaining to establishment of a sustainable electrical network. Favorable government norms toward the replacement of fossil fuels with sustainable energy resources favored by renewable integration targets will positively drive the industry growth. In 2017, National Energy Administration of China proposed an investment worth USD 326 billion toward strengthening of renewable energy networks by 2020.
 

Eminent players across the transfer switch market include Vertiv, General Electric, Generac, Cummins, Kohler, DynaGen, Caterpillar, Eaton, Briggs & Stratton, Schneider Electric, Siemens, ABB, Russelectric, MBH Electric, Zhejiang Yuye Electric, and AEG.
 

Transfer switch market research report includes in-depth coverage of the industry with estimates & forecast both in terms of Units and USD from 2013 to 2024, for the following segments:

Transfer Switch Market, By Operation

  • Manual
  • Non-automatic
  • Automatic
  • By-pass isolation

Transfer Switch Market, By Switching Mechanism

  • Contactor
  • Circuit breaker
    • Molded case
    • Power case

Transfer Switch Market, By Transition

  • Closed
  • Open
    • Delayed
    • In-phase

Transfer Switch Market, By Ampere rating

  • ≤ 400
  • 401 to 1600
  • > 1600

Transfer Switch Market, By Installation

  • Emergency systems
  • Legally required systems
  • Critical Operations Power Systems (COPS)
  • Optional standby systems

The above information is provided on a country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Russia
    • UK
    • Italy
    • Spain
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
  • Middle East & Africa
    • UAE
    • South Africa
    • Saudi Arabia
  • Latin America
    • Brazil
    • Argentina