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Transfer Switch Market Share

Report ID: GMI2037
Published Date: May 2023
Report Format: PDF

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Transfer Switch Market Share

Notable companies operating in the transfer switch market include

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

Key companies in the transfer switch industry are focusing on bulk manufacturing and making substantial investments in research and development to develop advanced protection and control technologies. Additionally, these companies are also prioritizing the production of high-end customized products and expanding their manufacturing facilities to meet the growing demand for flexible product integration. These strategic initiatives have become crucial in shaping the competitive landscape of the industry.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of transfer switch was reached USD 2.4 billion in 2023 and is estimated to reach over USD 4.2 billion by 2032, attributed to ongoing reforms aimed at replacing conventional power generation technologies with sustainable energy sources, particularly in developed economies.

The automatic operation segment held over 65% market share in 2022 and is expected to grow at a CAGR of over 5% through 2032, owing to product benefits such as operational flexibility and frequency sensing capabilities, which provide reliable power transfer.

Asia Pacific market is anticipated to record a CAGR of over 5.5% during 2023 and 2032, backed by soaring population growth and rapid urbanization, resulting in fast infrastructure development and growing demand for reliable electricity.

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