Transfer Switch Market to exhibit commendable growth prospects from 2017 to 2024

One of recent precedents that made for interesting debates across the electrical space is that of the transfer switch market behemoth, Schneider Electric SE, declaring its decision of purchasing ASCO Power Technologies. The latter, a perpetually important player in transfer switch industry, has established quite a name in this business space, having accounted for an annual revenue of more than USD 465 million in 2016. The deal underlines the strategies of M&As adopted by key companies for consolidating their position in the global arena in addition to enhancing their product spectrum. The French transfer switch market player, Schneider Electric SE, seems to have strategically planned the takeover of ASCO from Vertiv, the infrastructure company, in an all-cash transaction worth around USD 1.25 billion. Amidst the many deals prevalent in the competitive landscape of transfer switch market, this billion-dollar alliance is deemed to have a particularly strong impact on the business growth.

Being incorporated as an inherent part of Schneider Electric is not the only contingency ASCO has been through in recent years. Schneider’s acquisition of the transfer switch industry giant comes on the heels of its 2016 partnership with the Wauwatosa-based Briggs & Stratton Corp., which aimed at collaborating with ASCO to engineer and develop automatic transfer switches for its new line of commercial generator offerings. Briggs’s decision of planning to manufacture automatic switches may be based on the fact that transfer switches designed to be automatically operational depict flexible functionality and high frequency sensing capabilities.

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On these grounds, Global Market Insights, Inc., has claimed transfer switch market size from automatic operations to have held the largest share of the overall revenue in 2016. This technology boasts of supreme power reliability and highly effective compatibility with permanently installed stand-by generators, owing to which automatic operations have been forecast to account for the largest share of transfer switch industry revenue by 2024.

The regional landscape of transfer switch market: In a nutshell

• U.S., Held over 70% of North America market share, The Federal Transit Administration: USD 100 million to expand electric infrastructure in California’s rail networks.
• Germany, May cross 150,000 units of annual installations by 2024, State funding: USD 120 billion to support German based suppliers and automakers.
• China, May exceed USD 200 million by 2024, The National Energy Administration of China: USD 326 billion to strengthen renewable energy networks by 2020.

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Transfer switch industry is replete with the introduction of uniquely designed products, subject to the ever-growing demand across fire-alarms, communication, HVAC networks, signaling, and security. Eaton for instance, in 2015, had introduced a novel automatic transfer switch (ATS) for data centers across the American belt, called the eATS30 Monitored platform. Eaton’s flagship product, in the event of power failure, was designed to switch over to an alternating power source, which allowed for the availability of consistent uptime for single power-sourced equipment. The eATS30 is also designed to work in tandem with other power solutions of the transfer switch market giant, UPSs (uninterruptible power systems) and PDUs (power distribution units).
Eaton’s product experimentation and launch stands as an indicator of the fact that companies partaking in transfer switch industry share are consistently attempting to bring forth innovative products that can be utilized effectively in legally required systems, emergency systems, optional standby systems, and critical operation power systems.

Transfer switch market is inherently defined by a plethora of R&D investments toward the development of control technologies. A proportional amount of these investments, it is observed, is being provided by governmental organizations and regulatory bodies. In 2017, for instance, Blackstone, supported by the Saudi Arabian government, has made a proposition to invest around USD 40 billion across the U.S. infrastructure sector.

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By virtue of the implementation of extensive research and development programs, companies in transfer switch industry have unearthed the reason behind the demand for tailored products, subject to which they have been attempting to generate high-end switches to be used with profound efficiency in a variety of commercial arenas. Adhering to the same, the requirement for high-grade facilities has also experienced a surge, on the grounds of which transfer switch market firms have commenced the expansion of their production facilities across myriad geographies. The tactic of these companies to fulfill the escalating demand for product integration is one of many crucial factors that will drive transfer switch industry share, which is forecast to witness an annual installation of around 5 million units by 2024.

About Global Market Insights:

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