Global Transfer Switch Market to Grow at a CAGR Of 7.2% During the Period 2019-2024 | Ozone Market Reports

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Ozone Market Reports projects that the Transfer Switch market size will grow from USD 1194.3 Million in 2017 to USD 1812.5 Million by 2023, at an estimated CAGR of 7.2%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.

The growth is attributed to the increasing demand in the industrial and commercial applications.Transfer switch is an electromechanical device which facilitates switching between two or more power sources mainly backup generators. It assures convenient and hassle free switching and continuous power supply in industrial, commercial and residential operations. The market drivers of the transfer switch market are entirely influenced by power distribution & transmission industry. Growth in the related as well as complementary markets, of generators and alternate energy sources, also contribute towards the growth of transfer switch market.

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By Market Players:
ABB Ltd. , General Electric , Emerson Electric Co. , Socomec , Cummins , Schneider Electric SE , Eaton , Siemens AG. , Eltek Power Systems as , Generac Power Systems , Russelectric , Caterpillar Inc. , Kohler Co. , Camsco Electric Co. , Marathon Thomson Power System , , , , ,

By Type:
Automatic, Manual, , ,

By Ampere Rating:
0-300a, 301-1600a, 1601-4000a, ,

By Transition Mode:
Soft Load, Closed, Delayed, Open,

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By Application:
Industrial , Commercial , Residential, ,

The prime objective of this report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing. Deep researches and analysis were done during the preparation of the report. The readers will find this report very helpful in understanding the market in depth. The data and the information regarding the market are taken from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the industry experts. The facts and data are represented in the report using diagrams, graphs, pie charts, and other pictorial representations. This enhances the visual representation and also helps in understanding the facts much better.

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