North America Transfer Switch Market Size, Share & Industry Trends Analysis Report By End Use (Residential, Industrial, and Commercial), By Type, By Transition Mode (Closed, Open, Soft Load, and Delayed), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Transfer Switch Market would witness market growth of 6.0% CAGR during the forecast period (2022-2028).
Although it is not linked to the electric utility wires, the generator powers the home's electrical load. To safeguard the generator from overload when powering loads within the home and for safety, as utility employees anticipate the lines to be dead, it is vital to isolate the generator from the distribution system.
After a further defined amount of "cool down" time during which there is no demand on the generator, the transfer switch will instruct the generator to turn off when utility power resumes for a minimum period and transfer the house back to utility power. Users can configure a transfer switch to only power essential circuits or complete electrical (sub)panels. Some transfer switches permit the prioritizing of optional circuits, including those for heating and cooling systems, or load shedding.
In the United States, a range of resources is used to produce electricity. Natural gas, coal, and nuclear energy are the three most popular. Renewable resources like wind and solar are some of the sources that are expanding most quickly. Centralized power facilities produce the majority of the country's electricity. Distributed generation is a range of technologies that produce electricity at or close to where it will be used, such as onsite solar panels, and combined heat and power produce a significantly smaller but increasing amount of the world's electricity.
The US market dominated the North America Transfer Switch Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $459.4 million by 2028. The Canada market is poised to grow at a CAGR of 8.1% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 7.8% during (2022 - 2028).
Based on End Use, the market is segmented into Residential, Industrial, and Commercial. Based on Type, the market is segmented into Manual and Automatic. Based on Transition Mode, the market is segmented into Closed, Open, Soft Load, and Delayed. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Transfer Switch Market is Estimated to reach $2.2 Billion by 2028, at a CAGR of 6.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Schneider Electric SE, ABB Group, General Electric (GE) Co., Generac Holdings, Inc., Cummins, Inc., Caterpillar, Inc., Emerson Electric Co., Eaton Corporation PLC, and Kohler Co.
Scope of the Study
Market Segments Covered in the Report:
By End Use
By Transition Mode
- Soft Load
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Siemens AG
- Schneider Electric SE
- ABB Group
- General Electric (GE) Co.
- Generac Holdings, Inc.
- Cummins, Inc.
- Caterpillar, Inc.
- Emerson Electric Co.
- Eaton Corporation PLC
- Kohler Co.
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