A transfer switch is an electrical equipment that switches load between two power sources such as utility power and generator power. Transfer switches are available in the manual or automatic forms. Transfer switches provide quick transition between two or more power sources which helps in uninterrupted power supply if any of the power sources goes off. 

The global transfer switch market is very mature and has grown significantly since its inception. Transfer switches are used in various industrialand residential setups. Transfer switches are also available in automatic mode which has further improved its usage and practicality. Transfer switches have a huge market in Asia Pacific, North America and Europe. Middle East, Latin America and Africa also have a growing transfer switch market.

The global transfer switch market can be segmented on the basis of type, transition mode, and geography. The different types of transfer switches include automatic transfer switches and manual transfer switches.Automatic transfer switch constantly monitors the supply power and instantly switches when it senses shortage or variation in power. Automatic transfer switches are most commonly used transfer switches.In manual transfer switch, an operator effects the transition by changing a switch. Transfer switches are segmented on the basis of various transition modes such as open transition, closed transition, delayed transition, and soft load transition. An open transition transfer switch breaks contactwith one source of power before it makes contact with another source of power. Whereas, closed transition transfer switches simultaneously makes contact with another power sources before breaking from it. Closed transition transfer switches are useful for applications requiring zero interruption of power.  Delayed transition transfer switch disconnects from one source and then pauses before it connects to the alternate source. Soft loading transition transfer switch synchronizes generator power with the utility power before switching between alternate power sources.

Asia Pacific including countries such as Japan, South Korea, India and China has the largest market share of global transfer switches. Developing countries such as China and India are boosting the transfer switch market.North America and Europe also have a huge market for transfer switches. Countries such as the U.S, Germany, U.K, France and Canada have huge market share of transfer switch market. Middle East, Latin America and Africa are expected to have a decent share of transfer switch market in the coming decade. 

The demand for transfer switches is growing due to abundant applications in different end use sectors. Global transfer switch market growth is reliant on the growth of power utilities and generator backed power supply.Transfer switches are used in industrial, commercial and residential facilities. Industrial usage of transfer switches is very high. Thus, growing industrial, commercial and residential activities will further boost the demand for transfer switches. In developing countries, power distribution infrastructure is still not perfect, which has led to rise in demand for transfer switches in these countries.  However, lack of awareness among developing regions and the need for regular maintenance could hamper the growth of transfer switch market. Rising demand for uninterrupted power and adoption of smart grid technology across the globe provides a good growth opportunity for transfer switch market. Hence, excellent growth trajectory is predicted for transfer switch market during the forecast period. 

Some of the key players in transfer switch market areABB Ltd., General Electric, Cummins Inc., Emerson Electric Company, Eaton Corporation Plc., Kohler Power Company, Marathon Thomson Power System, and Generac Power Systems Inc., among others.

This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include 

  • North America 
  • Asia Pacific 
  • Europe
  • Middle East and Africa
  • Latin America

This report provides comprehensive analysis of 

  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for upcoming years 

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis. 

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  • This report provides pin-point analysis for changing competitive dynamics
  • It provides a forward looking perspective on different factors driving or restraining market growth 
  • It provides a six-year forecast assessed on the basis of how the market is predicted to grow 
  • It helps in understanding the key product segments and their future
  • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
  • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments 
  • It provides distinctive graphics and exemplified SWOT analysis of major market segments 

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Transfer Switch Market

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