Static Transfer Switches: Market Introduction
Increasing demand for electricity globally is facilitating numerous growth opportunities for static transfer switches market in recent past. With the growth of generator backed power supply and power utilities, the demand for static transfer switches is also expected to increase during forecast period.
If any of the power sources between single phase and three phase goes off, then in such cases static transfer switches proves to be very effective in order to provide uninterrupted power supply. As, these switches are capable of providing 20 times faster load transfer as compare to traditional automatic transfer switches and manual transfer switches, hence this helps uninterrupted power supply. Due to this demand for these switches is increasing rapidly.
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Considering the importance of static transfer switch for supply of back-up power to the critical application in various industries such as IT, healthcare, manufacturing and telecommunication sector, static transfer switch market is expected to grow considerable pace during the forecast period (2020-2030).
There are some restraining factors which needs to be considered because these factors could affect the growth of market. Lack of awareness about static transfer switches among some developing regions and need for regular maintenance could be the factors restraining the growth of static transfer switches market.
Static transfer switches market is experiencing mixed results due to COVID-19 outbreak
COVID-19 has affected many industries such as construction, automotive and also manufacturing industry. Governments of many countries have imposed a lockdown as a result of which industries are dealing with the problems such as halted production activity and disrupted supply chain.
Also, operations in power plants in many countries across the globe was halted. These factors have impacted the growth of static transfer switches market. However, there is more demand for static transfer switches from healthcare industry due to COVID-19 outbreak.
Segmentation analysis of static transfer switches market:
Static transfer switches market is bifurcated into five major categories: phase type, ampere rating, end use, distribution channel and region.
On the basis of phase type, the global market for static transfer switches is categorized as:
- Single phase
- Three phase
On the basis of ampere rating, the global market for static transfer switches is categorized as:
- Less than 500 A
- 501-1000 A
- 1001-2000 A
- More than 2000 A
On the basis of End use, the global market for static transfer switches is categorized as:
- Commercial buildings
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On the basis of sales channel, the global market for static transfer switches is categorized as:
- Conventional Store
- Online Channels
- Direct Sales
Based on the region, the global market for static transfer switches is segmented as:
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Static transfer switches market: Regional Outlook
East Asia and South Asia is expected to dominate static transfer switches market considering the development in the countries such as China and India.
These regions are witnessing considerable growth in the automotive and power sector and technological upgradation in these regions is driving the growth of static transfer switches market. Therefore, these regions are expected to create noteworthy opportunities for static transfer switches manufacturers.
Also, North America region is expected contribute immensely in the growth of static transfer switches market. Technological advancements in the countries such as US helping the market to grow at considerable rate in North America region.
Key players in static transfer switches are working on key strategies to gain more market share:
Key players in static transfer switches are using various strategies such as new product launches, partnerships, investment in R&D activities and acquisitions. For instance, in 2017 ABB Company which operations mainly in robotics, power and electrical equipment has launched extension of Cyberex SuperSwitch 4 digital static transfer switch (DSTS).
This static transfer switch is designed with true fault tolerance effect and it is capable of detecting the power quality with optimum efficiency and reliability. Therefore, with such advancements in the product, the demand for static transfer switches is expected to increase which will ultimately help the market to grow.
Also, Schneider Electric, one of the key player in the market has been continuously trying to innovate its product offerings by investing high amount in R&D activities. These advanced static transfer switches are high in redundancy and also very reliable for automatic transfer between power sources.
Other key players in the static transfer switches market include Cummins, Honeywell, Emerson, Eaton corporation, Generac, APC, Delta Electronics, PDI Corp., Socomec and Vertiv.
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