Transfer Switch Market Outlook – 2027 

The global transfer switch market is experiencing a significant growth, and is expected to grow considerably in the next few years. Transfer switch is an electrical equipment that switches load between two sources. These sources are power sources which include generator and utility sources. These switches are of two types either automatic or manual. These switches help in constant power supply when power cut as they provide abrupt shift among power sources. 

Thus, they find their applications in emergency systems, critical operations power systems, optional standby systems, and legally required systems in industries such as commercial and residential. Innovations in the smart grid technology will pave the way for better and improved market. 

The global transfer switch market is segmented on the basis of type, transitions mode, ampere rating, application, end user, and region. Based on type, the transfer switch market is bifurcated into automatic transfer switch and manual transfer switch. In terms of transitions mode, the market is categorized into closed, open, soft load, and delayed. On the basis of ampere rating, the market is divided into 0-300A, 301A-1.6kA, and 1.6kA-4kA. 

In terms of application, the market is categorized into critical operation power systems, emergency systems, optional standby systems, and legally required systems. On the basis of end user, the market is segregated into commercial, industrial, and residential. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global transfer switch industry include ABB Ltd., Marathon Thomson Power Systems, Cummins Inc., Eaton Corporation PLC, Emerson Electric Company, Generac Power Systems, General Electric, Kohler power, DynaGen, Siemens, and Others. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market. 

Top Impacting Factors 

The major driving factors for the growth of the market are increasing demand for steady and continuous power supply. The other growth factors are rising investments towards industrial expansion, integration of advanced switching technologies and rising demand for sustainable electrical network. But lack of awareness and implementation regarding transfer switches in developing countries and regular maintenance of transfer switch may hinder the market growth. However, increasing acceptance of smart grid technologies, increasing urbanization and rapid industrialization will drive the market further. 

New Product Launches to Flourish the Market

A new line of power series ‘transfer switches’ was launched by Generac Power Systems in 2015. These switches were suitable for single-engine diesel generators which range from 750kW to 2MW. It has capabilities up to 5000 A and also includes 14 different platforms. It also has features which are essential in mission critical applications such as open and delayed transition, short time ratings and others. Thus, this product flourished the market because it provided higher flexibility, reliability and safety from paralleling two sources of power. 

Surge in Usage in Power and Transmission Industries

Transfer switches are the devices which enable switching between various power sources which are mainly backup generators. It provides assurance, convenience and hassle free continuous and switching power supply to various industries. Thus, their surge is influenced and dependent on power & transmission industry. 

However, as there is increase in the demand for power by many industries, it has led to surge in the demand and usage of transfer switches in these industries. Also, the outages, uncertain weather conditions, voltage fluctuations and blackouts which lead to ceasing of various processes or production activities has led to increase in usage of Transfer Switches in industries.

Key Benefits of the Report

• This study presents the analytical depiction of the global transfer switch market forecast along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global transfer switch market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global transfer switch market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global transfer switch market analysis based on competitive intensity and how the competition will take shape in coming years. 

Market Scope and Structure Analysis

COVID-19 Scenario Analysis 

• Global transfer switch market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors. 
• Global factories have struggled to integrate new transfer switches as workers have stayed in their homes, which disrupted the global supply chains. 
• The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for transfer switches are gradually going to increase.  
• This COVID-19 lockdown would help companies think about more advanced transfer switches to enhance efficiency.

Transfer Switch Market Key Segments

Questions Answered in the Transfer Switch Market Research Report

• Which are the leading market players active in the transfer switch market?
• What would be the detailed impact of COVID-19 on the transfer switch market size?
• How current transfer switch market trends would influence the industry in the next few years?
• What are the driving factors, restraints, and opportunities in the global market?
• What are the projections for the future that would help in taking further strategic steps?