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Market Overview:
The Transfer Switch size is estimated to reach $2.7 billion by 2030, growing at a CAGR of 6.6% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Transfer Switch – By Types (Automatic Transfer Switch {Circuit Based, Static, Contractor Based}, Manual Transfer Switch), By Transition Mode (Open Transition Mode, Closed Transition Mode, Delayed Transition Mode, Soft Load Transition Mode), By Ampere Rating (Less Than or Equal to 400(=400), In Between 401 to 1600, Greater than 1600 (>1600)), By Application (Industrial {Telecom, Utilities, Transportation}, Commercial, Residential), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”.
Transfer Switch: Key Takeaways
Rising Demand for Reliable Power Backup Solutions:
The increasing frequency of power outages due to aging grid infrastructure and extreme weather events is driving demand for reliable power backup systems. Transfer switches, which ensure seamless switching between primary and backup power sources, have become essential in residential, commercial, and industrial settings. Additionally, critical applications in hospitals, data centers, and manufacturing facilities prioritize power continuity, further boosting the adoption of transfer switches. The growing reliance on electrical systems for modern operations emphasizes the need for effective backup solutions, making transfer switches an integral component for uninterrupted power supply and operational efficiency.
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Scope of the Report:
Recent Developments:
- On November 15, 2023, Socomec India launched a new range of sustainable solutions, enhancing the Transfer Switch Market with advanced technologies aimed at supporting energy-efficient and reliable power management systems.
- On October 10, 2023, Power Equipment Firms unveiled new innovations in power management solutions, focusing on energy-efficient and reliable transfer switch technologies, advancing the Transfer Switch Market for critical applications.
- On March 13, 2023, Cummins introduced their UL1008 transfer switches, which are designed for superior reliability and performance in critical applications such as healthcare, data centers, and industrial facilities. These switches offer seamless power transfer between utility and generator sources, ensuring minimal downtime during power outages.
Transfer Switch: Competitive Landscape
Key companies profiled in the Transfer Switch are ABB Ltd, General Electric, Emerson Electric Co., Cummins, Schneider Electric Co., Eaton Corporation, Kohler, Russelectric, Caterpillar, Generac Power Systems, among others.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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Mr. Venkat Reddy
IndustryARC
Email: [email protected]
USA: (+1) 518-282-4727