About Transfer Switch
A transfer switch shifts electrical loads or distribution systems between two power sources; it is an essential part of standby or emergency power system. Transfer switches are used in a broad range of applications, such as data centers, hospitals, diagnostic, and other health care centers, factories, warehouses, and other commercial set-ups such as financial institutions. These facilities require uninterrupted power supply for continuous operations, and therefore, use auxiliary power source, such as a generator or backup utility feed. In the case of power failure from the primary supply, the transfer switch shifts all the equipment that is connected to main supply to the auxiliary power source. Thus, transfer switches form an essential component of the electrical systems in facilities requiring a continuous power supply.
Technavio’s analysts forecast the global transfer switch market to grow at a CAGR of 6.92% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global transfer switch market for 2016-2020. To calculate the market size, the report considers the demand for transfer switches from the end-users industries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Transfer Switch Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Transfer Switch Market: ABB, Cummins, Eaton, Emerson Electric, and General Electric.
Other Prominent Vendors in the market are: Camsco Electric, Generac, Kohler, Mitsubishi Electric, MTS Power Products, Russelectric, Schneider Electric, Lex Products, Caterpillar, and Dynagen Technologies.
Commenting on the report, an analyst from Technavio’s team said: “Transfer switches are employed in charging stations for EVs. With the rise in production of EVs and HEVs, we expect an increased construction of these charging stations, which will drive the demand for transfer switches.”
According to the report, the market is driven by the demand for transfer switches from data centers, telecom power systems, and healthcare facilities. The telecom industry is a major end-user of transfer switches. The telecom companies aim at ensuring continuous service to the customers, for which the telecom towers are required to have a constant and sufficient access to power supply. Therefore, this sector offers significant potential for market growth of transfer switches.
Further, the report states that fluctuating prices of raw materials have become a major concern for vendors as these hamper their plans while forecasting demand and developing and executing manufacturing plans and inventory management. Such fluctuations can also result in reduced profit margins for vendors
ABB, Cummins, Eaton, Emerson Electric, General Electric, Camsco Electric, Generac, Kohler, Mitsubishi Electric, MTS Power Products, Russelectric, Schneider Electric, Lex Products, Caterpillar, Dynagen Technologies.