This is the latest offering from Fior Markets with the title Global Transfer Switches Market Growth 2019-2024 which delivers a close watch on the demand, production, top manufacturers, key regions, report product type, end-use applications forecasting 2019-2024. The report is viewed with interest since if offers from various perspectives and regions. key aspects including advertising drivers, challenges, openings, future guide, key patterns, player profiles, procedures, and esteem chain are empowered further in the report.
This report studies the Transfer Switches market. The transfer switch (TS) is an electrical device that allows the transfer of power sources to the load. This superior switching methodology means that if one power source fails, the TS switch connects the load to the back-up power source. The switch market comprises of two transfer switches, namely the automatic transfer switch (ATS) and manual transfer switch (MTS).
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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 Asia-Pacific transfer switch market held the largest market share in 2016. The market in China accounts the Second share in this region. Rapid industrialization is driving the market growth in this country. Also, some of the world’s largest transfer switch manufacturers are present in China.
The need for the installation of transfer switch is more seen in the industrial sector as most of the industrial end users rely on continuous power. The sector comprises mainly power rental companies, utilities, telecom & IT (datacenters) and construction & manufacturing, mining industries, oil & gas, automotive, & pharmaceuticals industries. In terms of value, the industrial segment accounted for the largest share in the global transfer switch market, followed by commercial and residential.
According to this study, over the next five years the Transfer Switches market will register a 5.8% CAGR in terms of revenue, the global market size will reach US$ 1100 million by 2024, from US$ 780 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Transfer Switches business, shared in Chapter 3.
Major players in the report included are: Vertiv, GE, Eaton, Cummins, KOHLER, ABB, Briggs & Stratton, GENERAC, Socomec, Thomson Power Systems
A chapter-wise format in the form of numbers, graphical representations are given in the report. The worldwide market for Transfer Switches is expected to grow at a CAGR of roughly xx% over the next seven years, will reach xx million US$ in 2024, from xx million US$ in 2019.
Market product type (share, demand, growth, production supply analysis): Automatic Transfer Switches, Manual Transfer Switches
Market main application (share, demand, growth, production supply analysis): Industrial, Commercial, Residential
The report provides a detailed breakdown of the market region-wise and categorizes it at various levels. Regional segment analysis displaying regional production volume, consumption volume, revenue, and growth rate from 2019-2024 covers: Americas (United States, Canada, Mexico, Brazil), APAC (China, Japan, Korea, Southeast Asia, India, Australia), Europe (Germany, France, UK, Italy, Russia, Spain), Middle East & Africa (Egypt, South Africa, Israel, Turkey, GCC Countries).
The economic conditions and other economic indicators are considered during the compilation of this report to pre-evaluate their influence on the market, helping to make strategic and informed forecasts about the market scenarios. The report is one kind of important constituent that continues to gain demand from all corners of the globe. This market study is a beneficial tool for its buyer to raise its profitability of investment as well as discover new dimensions and form informed decisions.
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