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Asia Pacific Transfer Switch Market Trends

Report ID: GMI6649
Published Date: Sep 2023
Report Format: PDF

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Asia Pacific Transfer Switch Market trends

In recent years, the electricity industry has witnessed remarkable growth, particularly in the Asia Pacific region, driven by factors like urbanization and the construction of commercial structures. However, the intricate nature of power grid infrastructure and frequent disruptions underscore the necessity for backup power sources. Consequently, the adoption of transfer switches in both commercial and residential settings has seen a significant upswing, propelling market expansion. Manufacturers are diligently focusing on crafting more efficient products to curtail standby losses and overall energy expenditures, further bolstering market expansion.

Furthermore, the demand for transfer switches is being propelled by advancing technologies and increased investments in the industrial sector. Industries are prioritizing the establishment of secure and reliable operational environments, leading to a heightened need for transfer switches. Government initiatives aimed at improving operational safety and the rising requirement for HVAC systems in industrial applications are expected to drive market growth. Additionally, regulatory reforms encouraging foreign direct investment (FDI) in industrial ventures will positively impact the transfer switch market. FDI plays a pivotal role in sustaining global manufacturing growth, exerting a favorable influence on the overall market outlook.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

Asia pacific transfer switch industry was valued at over USD 923 million in 2023 and is expected to reach over USD 1.51 billion by 2032, favored by the rapidly growing urbanization and industrialization.

The automatic transfer switches secured a market share of over 64% in 2022 and will exhibit a robust CAGR of over 4.5% through 2032, owing to their operational versatility and capacity to sense frequency, ensuring dependable power transfers.

China transfer switch market is anticipated to grow at a CAGR of over 5% through 2032 owing to the rapid urbanization and industrialization in the country which are leading to increased demand for reliable power supply solutions.

One Two Three Electric Co. Ltd., Generac Power Systems, Inc., Kohler Co., ABB, Legrand, Caterpillar, Siemens, Schneider Electric, Eaton, Cummins Inc., Vertiv Group Corp, AEG Power Solutions, General Electric, and Briggs & Stratton.