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Automatic Transfer Switch Market Trends

Report ID: GMI5881
Published Date: May 2023
Report Format: PDF

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Automatic Transfer Switch Market Trends

Rising demand for reliable power supply in various sectors have boosted the adoption of transfer switches to effectively switch between different power sources. The increasing frequency of extreme weather events, natural disasters, and power grid instability has highlighted the importance of backup power solutions. ATSs are a key component of backup power systems, enabling a swift and automatic transfer of power when the main source fails. This has led to a higher adoption of ATSs in both residential and commercial applications. Furthermore, these units are being integrated with smart technologies and Internet of Things (IoT) capabilities which allows remote monitoring, control, and diagnostics of the transfer switch, thereby enhancing convenience, efficiency, and predictive maintenance, which in turn propels the technology deployment across the globe.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of Global Automatic Transfer Switch (ATS) amassed around USD 1.6 billion in 2023 and is estimated to reach over USD 2.6 billion by 2032, driven by high product adoption in industries and commercial establishments.

The open transition ATS units segment held over 55% revenue share in 2022 and is expected to reach over USD 1.4 billion in revenue by 2032, attributed to their ability to prevent in-rush current and their cost-effectiveness.

The Asia Pacific market is estimated to witness significant growth at over 5% CAGR through 2032, owing to the high demand for uninterrupted power supply across various industries to reduce operational downtime.

General Electric, Vertiv Group Corp, Generac Power Systems, Inc., Kohler Co., Cummins Inc., Caterpillar, Briggs & Stratton, Eaton, Schneider Electric, ABB, Siemens, AEG Power Solutions, One Two Three Electric Co. Ltd. and Global Power Supply, LLC. are some of the top firms in the market.