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Automatic Transfer Switch Market | Asia-Pacific Fastest Growing by South Korea, China, Singapore, Japan
According to a new report published by Allied Market Research, the automatic transfer switch market was valued at $0.7 billion in 2022, and is estimated to reach $1.8 billion by 2032, growing at a CAGR of 10.1% from 2023 to 2032.An Automatic Transfer Switch (ATS) is an electrical device used to automatically switch the power supply between two sources in order to provide uninterrupted power to a load, such as a building, facility, or equipment. The two sources typically consist of a primary power source (often the utility power grid) and a backup power source (such as a generator or an alternate power feed).
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Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global automatic transfer switch market revenue, and is likely to dominate the market during the forecast period.
The Asia-Pacific region presents significant growth potential in the ATS industry. Emerging markets, such as India, China, and Southeast Asian countries, have witnessed rapid industrial growth which will lead to increased demand for ATS. The increase in investment toward renewable energy sources is a factor that is anticipated to offer automatic transfer switch market opportunities in Asia-Pacific during the forecast period.
Top Vendors
ABB Ltd., Cummins Inc., Eaton Corporation, Kohler, Generac Power Systems, General Electric, Schneider Electric, Siemens, Vertiv Group Corp, and Caterpillar
Automatic transfer switches are commonly used in critical applications where even a brief power outage could have serious consequences, such as data centers, hospitals, telecommunications facilities, and emergency response centers.
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ATS enhance the reliability of power distribution systems and help maintain operational continuity during electrical disturbances or failures. Automatic transfer switches enable power supply between backup generators, providing convenience and assurance to industries. As demand for power increases, so do the usage of these devices.
The ATS monitors the voltage or frequency of both power sources and in the event of a power loss or significant deviation from the desired parameters it swiftly and automatically transfers the load from the primary source to the backup source. This seamless transition ensures a continuous supply of power to the connected load without any interruption.
The automatic transfer switch market growth is expected to be restrained by high costs and technical complexities, including components, manufacturing technologies, and integration of alternative technologies like energy storage systems and IoT sensors.
Cybersecurity concerns and higher maintenance costs are also expected due to the vulnerability of ATS systems to hacking and the need for specialized expertise and replacement components.
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Based on the switching mechanism, the contactor segment held the highest market share in 2022, accounting for more than half of the global automatic transfer switch market revenue. The rapid expansion of industrial sectors, which includes manufacturing plants, creates a substantial demand for ATS for normal operation of the high voltage process.
By switching mechanism, the market is bifurcated into contactor and circuit. On the basis of transition mode, it is segregated into soft load, closed, delayed, and open. Depending on end use, it is separated into residential, commercial, and industrial.
Based on transition mode, the closed segment held the highest market share in 2022, accounting for more than one-third of the global market revenue, and is estimated to maintain its leadership status throughout the automatic transfer switch market forecast period.
Based on the end-use, the residential held the highest market share in 2022, accounting for nearly half of the global automatic transfer switch market revenue, and are estimated to maintain their leadership status throughout the forecast period. This is mainly due to the increase in the utilization of consumer electronics goods for various comfort which led to the demand for the smooth operation of power flow and control.
Read More Information: https://www.alliedmarketresearch.com/automatic-transfer-switch-market-A200264
The automatic transfer switch (ATS) market is witnessing robust growth driven by increasing demand for uninterrupted power supply solutions across critical sectors, including healthcare, data centers, and telecommunications.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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