PUBLISHER: Allied Market Research | PRODUCT CODE: 1396810
PUBLISHER: Allied Market Research | PRODUCT CODE: 1396810
The Automatic Transfer Switch Market was valued for $0.7 billion in 2022 and is estimated to reach $1.8 billion by 2032, exhibiting a CAGR of 10.1% from 2023 to 2032.
Automatic transfer switches are used for quickly and safely transitioning all electrical power that is consumed by the circuit, equipment, or systems connected to the automatic transfer switch output between normal and emergency power sources.
For the purpose of analysis, the automatic transfer switch market scope covers segmentation based on switching mechanism, transition mode, end use, and region. The report provides information on various switching mechanisms including contactor and circuit. Furthermore, the major transition modes covered in the study include soft load, closed, delayed, and open. Moreover, it outlines the details of the end use such as residential, commercial, and industrial. In addition, it analyzes the automatic transfer switch market trends across different regions such as North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
In switching mechanism, contactor is the dominant segment in 2022. However, circuit switching mechanism dominates. h the market in 2032 due to increase in the demand for circuit automatic transfer switches in various applications especially in commercial and residential. In transition mode, closed segment dominates the market throught out the forecast period. However, open transition mode is with highest CAGR, according to automatic transfer switch market size.
Based on the end-use, the residential held the highest market share in 2022, accounting for nearly half of the global automatic transfer switch industry revenue. However, the commercial segment end-use is projected to manifest highest CAGR from 2023 to 2032. Asia-Pacific is the most attractive market for automatic transfer switches due to the rise of industrial and commercial sectors in the region, especially in countries such as China and India.
Competitive analysis and profiles of the major automatic transfer switch market share players, such as ABB Ltd., Cummins Inc., Eaton Corporation, Kohler, Generac Power Systems, General Electric, Schneider Electric, Siemens, Vertiv Group Corp., and Caterpillar are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications.
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