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PORTLAND, Ore. , Oct. 2, 2023 /PRNewswire/ -- "The automatic transfer switch (ATS) market is driven by the surge in the usage of automatic transfer switches in power and transmission industries, favorable government policies, and an increase in renewable energy integration reforms. CJX2 Contactor
Allied Market Research published a report, titled, "Automatic Transfer Switch Market by Switching Mechanism (Contactor, Circuit), by Transition Mode (Soft Load, Closed, Delayed, Open), by End-Use (Residential, Commercial, Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report. The automatic transfer switch market was valued for $0.7 billion in 2022 and is estimated to reach $1.8 billion by 2032, exhibiting a CAGR of 10.1% from 2023 to 2032.
Automatic Transfer Switch (ATS) systems, ensuring uninterrupted power during grid disruptions, are vital for operational efficiency and reduce energy waste. Growing reliance on electricity, driven by technology and digitalization, amplifies the need for reliable power transfer.
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The surge in the usage of automatic transfer switches in power and transmission industries, favorable government policies, and an increase in renewable energy integration reforms are some prime determinants that drive the growth of the global automatic transfer switch market. However, high cost, technical complexities, and cyber security concerns restrict market growth. Moreover, the adoption of ATS in the residential industry, and digital twin and advanced control algorithm technology present new opportunities in the coming years.
No. of Pages in Report
Switching Mechanism, Transition Mode, End-Use, and Region.
Surge in the usage of automatic transfer switches in power and transmission industries.
Increase in renewable energy integration reforms
High adoption of automatic transfer switches in the residential industry.
Digital twin technology and advanced control algorithms.
High costs and technical complexities
Cybersecurity concerns, maintenance, and service costs
The circuit type switching mechanism segment to maintain its leadership status during the forecast period
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. However, the circuit segment is projected to manifest a CAGR of 11.6% from 2023 to 2032, as this type of switching mechanism came into view due to an increase in the application of the Internet of Things in various residential applications.
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The closed segment to maintain its leadership status throughout the forecast period
Based on transition mode, the closed segment held the highest market share in 2022, accounting for more than one-third of the global automatic transfer switch market revenue, and is estimated to maintain its leadership status throughout the forecast period. Closed transition transfer within 5 electrical degrees is achieved passively, without control of the engine generator set. Therefore, no additional control wire runs are required between the ATS and engine generator set governor. However, the open segment is projected to manifest a CAGR of 13.2% from 2023 to 2032. In open transition, the load is disconnected from one source, before being connected to the alternate source. Most transfer switches will accomplish the transfer sequence very quickly, yet a brief power interruption is noticeable to the building occupants and is most certainly noticed by sensitive electronic equipment.
The residential segment to maintain its leadership status throughout the 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. However, the commercial segment end-use is projected to manifest a CAGR of 11.7% from 2023 to 2032, owing to the increase in the construction of commercial buildings and other corporate buildings where ATS is required.
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Asia-Pacific to maintain its dominance by 2032
Based on region, 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. Furthermore, the Asia-Pacific region is expected to witness the fastest CAGR of 10.8% from 2023 to 2032. 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 new growth opportunities for ATS in Asia-Pacific during the forecast period.
The report provides a detailed analysis of these key players in the global automatic transfer switch market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
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