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Transfer Switches - Global Market Trajectory & Analytics

  • ID: 4806330
  • Report
  • September 2020
  • Region: Global
  • 668 pages
  • Global Industry Analysts, Inc
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The global market for Transfer Switches is projected to reach US$1.8 billion by 2025, driven by the growing trend of smart grid technology adoption and increasing demand for uninterrupted power. Also driving growth in the market are regulations and guidelines for buildings and electrical networks; ongoing reforms for replacement of traditional power generation technologies with more sustainable sources of energy; and rapid evolution of generator-backed power supply and power utilities. The increased focus on energy efficiency is leading to brisk expansion of smart grid networks in countries across the world, complementing business outlook for transfer switches. In the year 2019 for instance, many major countries in Western Europe, including UK, Sweden, Italy, Germany and France entered into smart grid agreements and set targets for investments of more than US$135 billion for smart grid networks expansion in the countries over the coming few years. Another growth promoting factor is the growing need for a safe and reliable working environment across many industries. Governments are also implementing more stringent rules for operational safety in industrial environments.

Transfer switches which ensure uninterrupted supply of power make operating environments safer for employees and therefore would be deployed increasingly to adhere to the governmental regulations. Market outlook is further boosted with the ongoing reforms in developing countries for increasing FDI (foreign direct investment) opportunities. Growing construction industry; increasing adoption of supplementary power sources across residential, commercial and industrial establishments; sophistication in product designs & functionalities, increasing product efficiencies and rising energy costs are other major factors spurring growth. There is also considerable governmental push towards deployment of transfer switches via programs aimed at increasing awareness regarding operational reliability and safety of transfer switches in power systems, especially in commercial buildings. Governments are also deploying more stringent building codes mandating use of devices that guarantee power safety. Automatic Transfer Switch (ATS) constitutes the largest and fastest growing product type as it offers immediate and direct switching between supplementary/standby power source and the main (utility) source and vice versa. ATSs are highly valuable to businesses which cannot afford any power interruptions to their vital equipment and tools.

The devices are typically used alongside a generator and a tap box. For commercial business, it is an effective method for sustaining access to power during planned and unplanned mechanical maintenances and during times of power outages. An ATS is equipped with the ability to automatically detect outage and instantaneously and seamlessly switch to supplementary power, in milliseconds. This rapid switch eliminates power stutters which usually create complications for industries and businesses. And when power from the utility is restored, the switch automatically reverses and returns power to main source.

Competitors identified in this market include, among others:
  • ABB Ltd.
  • Briggs & Stratton Corporation
  • Cummins, Inc.
  • Eaton Corporation Inc.
  • Generac Power Systems, Inc.
  • GE Power
  • Kohler Power Systems
  • Regal Beloit Corporation
  • Schneider Electric SE
  • Socomec, Inc.
  • Vertiv Group Corporation.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Transfer Switches - A Prelude
  • Classification of Transfer Switches Based on Switch Type
  • Classification of Transfer Switches Based on Transition Mode
  • Classification of Transfer Switches Based on Ampere Rating
  • Major Application Areas for Transfer Switches
  • Transfer Switches: Current Market Scenario and Outlook
  • Automatic Transfer Switch (ATS): Largest and Fastest Growing Product Type
  • Manual Transfer Switches Remain in Contention
  • Exhibiting Fastest Growth, Developing Regions Set to Emerge as Dominant Consumers
  • World Transfer Switches Market by Region (2019 & 2025): Percentage Breakdown of Revenues for Developed and Developing Regions
  • World Transfer Switches Market - Geographic Regions Ranked by % CAGR (Revenues) for 2018-2025: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
  • Economic Scenario and Its Impact on Transfer Switches Market
  • Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021
  • Industrial Sector: Major Consumer
  • Top 10 Countries in Terms of Manufacturing Output: 2018
  • COMPETITIVE SCENARIO
  • Transfer Switches: A Fragmented Marketplace
  • Global Competitor Market Shares
  • Transfer Switches Competitor Market Share Scenario Worldwide (in %): 2019
  • RECENT MARKET ACTIVITY
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • ABB Ltd. (Switzerland)
  • Briggs & Stratton Corporation (USA)
  • Cummins, Inc. (USA)
  • Eaton Corporation Inc. (USA)
  • Generac Power Systems, Inc. (USA)
  • GE Power (USA)
  • Kohler Power Systems (USA)
  • Regal Beloit Corporation (USA)
  • Schneider Electric SE (France)
  • ASCO Power Technologies (USA)
  • Socomec, Inc. (USA)
  • Vertiv Group Corporation (USA)
3. MARKET TRENDS & DRIVERS
  • Increasing Demand for Continuous Power Supply Worldwide Fuels Demand for Transfer Switches
  • Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
  • Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
  • Rising Investments on Smart Grids Accelerates Market Adoption
  • Global Spending on Smart Grid Infrastructure (in US$ Billion) for the Years 2019, 2021, and 2023
  • Novel Opportunities Identified in Renewable Energy Sector
  • Global Solar Power Market: Solar PV Capacity (in GW) and PV Generation (in TWh) for the Years 2017, 2019, 2021 and 2023
  • Global Wind Power Market: Cumulated Installed Capacity (in GW) for the Years 2012 through 2018
  • Rising Number of Weather-related Power Outages Drive Demand
  • Cost of Load Failures Due to Power Disruptions/Outages in US$ Per Hour by Select Commercial Activity
  • Value Lost Due to Electrical Outages as a % of Sales of Affected Firms
  • Urban Sprawl Aids Market Expansion
  • World Urban Population in Millions: 2000-2050
  • Growth in the Construction Industry to Drive the Market for Transfer Switches
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 2000, 2020 & 2050
  • Projected Increase in Construction Investments Favors Market: World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
  • Construction Industry Worldwide: Percentage CAGR of Construction Output by Region for the Period 2013-2017 and 2018-2023
  • Healthy Construction Project Pipeline Value to Build Megacities Drives Importance of Transfer Switches: Global Value of Megacity Construction Projects (US$ Billion) in 2019
  • Steady Momentum in World Mining Industry Favors Market Growth
  • World Mining Industry by Material Category: A Snapshot
  • Leading Mining Nations in the World (2018): Percentage Breakdown of Volume Production for Australia, China, Russia, USA, and Others
  • Transfer Switches Seek to Solidify Role in Data Center Electrical Infrastructure
  • Global Data Center IP Traffic in Zettabytes for the Years 2016, 2018, 2020, and 2022
  • Data Center New Floor Space Capacity Additions (in ‘000 Sq. ft.) Worldwide for the Years 2013, 2015, 2017, and 2019
  • A Review of Select New and Upcoming Mega Data Center Projects
  • Transfer Switches Gain Relevance in Airport Electrical Infrastructure
  • Robust Opportunities for Transfer Switch in Portable Generator Applications
  • Disaster Response Sector Relies on Power Generators for Ensuring Power Supply during Outages
  • Standby System Requirements Widen Use Case of Transfer Switches
  • Transfer Switches in Oil & Gas Industry: Essential to Prevent Downtime
  • Lack of Power Infrastructure in Developing Regions Drives the Demand for Transfer Switches
  • Aging Infrastructure in Developed Economies Spur Demand
  • Technology Innovations & Developments Continue to Widen Addressable Market
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
  • The United States: Dominant Consumer
  • Market Analytics
CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 44
Note: Product cover images may vary from those shown
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