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Europe Transfer Switch Market Trends

Report ID: GMI7157
Published Date: Oct 2023
Report Format: PDF

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Europe Transfer Switch Market Trends

Europe transfer switch industry is experiencing notable trends, owing to the growing shift toward intelligent and automatic transfer switches that enable seamless power source transitions, making them integral to smart grid and energy management initiatives. The increasing adoption of distributed energy resources and microgrids is boosting the demand for transfer switches as they facilitate the incorporation of decentralized energy into the grid. Additionally, the integration of digital technologies, remote monitoring, and cloud-based solutions is enhancing transfer switch functionality and enabling real-time diagnostics. These trends collectively reflect the market's evolution toward more efficient, reliable, and technologically advanced transfer switches in Europe.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of transfer switch in Europe was worth USD 654 million in 2023 and is anticipated to reach USD 1.16 billion by 2032.

Automatic transfer switches segment share in Europe exceeded 65% in 2022 and is expected to witness over 5.5% CAGR from 2023 to 2032, attributed to their operational flexibility and the capability to sense frequencies, ensuring reliable power transfers.

Germany transfer switch market valuation crossed USD 100 million in 2022 and is projected to surpass USD 170 million by 2032, owing to the increasing emphasis on energy efficiency and grid stability in the country.

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