DUBLIN, July 27, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/5tg8m6/transfer_switch) has announced the addition of the "Transfer Switch Market by Type, Transition Mode, Ampere Rating, Applications and Region - Global Trends and Forecasts to 2020" report to their offering.
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.
Transfer switch is an electromechanical device which facilitates switching between two or more power sources mainly backup generators. It assures convenient and hassle free switching and continuous power supply in industrial, commercial and residential operations. The market drivers of the transfer switch market are entirely influenced by power distribution & transmission industry. Growth in the related as well as complementary markets, of generators and alternate energy sources, also contribute towards the growth of transfer switch market.
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 Asia-Pacific transfer switch market held the largest market share in 2014. The market in China accounts the largest 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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Transfer Switch Market, By Type
8 Transfer Switch Market, By Ampere Rating
9 Transfer Switch Market, By Transition Mode
10 Transfer Switch Market, By Application
11 Transfer Switch Market, By Region
12 Competitive Landscape
13 Company Profiles
- ABB Ltd.
- Camsco Electric Co.
- Caterpillar Inc.
- Eltek Power Systems as
- Emerson Electric Co.
- Generac Power Systems
- General Electric
- Kohler Co.
- Marathon Thomson Power System
- Schneider Electric SE
- Siemens AG.
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SOURCE Research and Markets