Transfer Switch Market worth $1,470.9 Million by 2020

(IT-NEWSWIRE.COM, December 22, 2017 ) The Global Transfer Switch Market is estimated to reach $1,470.9 Million by 2020 at a projected CAGR of 6.6% during the forecast period. The growth is attributed to the increasing demand in the industrial and commercial applications. Automatic transfer switches continuously monitors the supply power and immediately switches whenever it sense shortage or fluctuation in power. Its market is growing at a fast pace and is rapidly expanding into new geographies. The automatic transfer switch market contributes to nearly 80% of the global transfer switch market share, whereas rest goes to manual transfer switch. Automatic transfer switch is widely used to ensure safe operations and are well synchronized with the primary and secondary source of power. The automatic transfer switch market is sub-segmented into static transfer switch, contactor based transfer switch and circuit based transfer switch.

Sudden brownouts and voltage fluctuation, outages, blackouts, and uncertain weather conditions have led to the increase in demand for transfer switch in the market. The growing dependence on power and critical application in industries, commercial institutions, healthcare, transportation, and households is the driving factor for transfer switch market. The figure below shows the global transfer switch market by region in the year 2014.

The industrial segment accounted for the largest share in the global transfer switch market. The industrial sector comprises mainly power rental companies, utilities, telecom & IT (datacenters) and construction & manufacturing, mining industries, oil & gas, automotive, & pharmaceuticals industries.

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Objectives of the study:
• To define, describe, and forecast the Global Transfer Switch Market by Type , Transition mode , Ampere Rating, Applications and region
• To strategically analyze the Global Transfer Switch Market with respect to individual growth trends, future prospects, and contribution of each segment to the market
• To strategically profile key players and comprehensively analyze their market shares and core competencies

Key Player Analysis:
Some of the major players operating in this market are ABB Ltd. (Switzerland), General Electric (U.S.), Cummins Inc. (U.S.), Emerson Electric Co. (U.S.), Eaton Co. Plc. (Ireland), Marathon Thomson Power System (Canada), and Generac Power Systems (U.S).

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Scope of the report:
On the type:
• Automatic
o Contactor Based
o Circuit Based
o Static Transfer switch
• Manual
On the basis of Applications:
• Industrial
o Power Utilities
o Transportation
o Telecom & IT
o Others
• Commercial
• Residential

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Transfer Switch Market worth $1,470.9 Million by 2020