The North America Automatic Transfer Switch Market would witness market growth of 9.5% CAGR during the forecast period (2023-2030).
Automatic transfer switches (ATS) automatically transition the power supply from that source to a backup source upon detecting a malfunction or failure in their primary power source. The automatic transfer switch activates a backup power source, such as an uninterrupted power supply, when a primary power grid malfunctions. ATS may also install longer-term backup power sources to run electrical equipment before power restoration, such as nearby diesel generators. Rising urbanization and industrialization worldwide are anticipated to propel market expansion throughout the forecast period.
It is possible to securely connect or disconnect various electrical sources from an electric load by employing these switches. A common component of residences and places of business, backup generators are activated in the event of a power outage. Furthermore, many factories and college campuses maintain their on-site power plants but periodically use the local grid for electricity. Electricity cannot flow in the incorrect direction from a residence's generator into the electrical grid because of these switches. This implies that while installation experts work on overhead power lines, users won't get shocked by someone else's house generator. This is one of the reasons that when a domestic generator is linked to the home's electrical panel, most electric codes require an electrical transfer switch.
Mexico's Energy Transition Law (Ley de Transición Energética) and General Climate Change Law (Ley General de Cambio Climático) say that the country wants to get 35% of its electricity from clean sources by 2024. This includes regenerating power from nuclear and other non-renewable sources in an efficient way. Therefore, due to the development of newer electricity infrastructure along with the modernization of existing ones, the regional market is expected to grow rapidly in the coming years.
The US market dominated the North America Automatic Transfer Switch Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $292.7 Million by 2030. The Canada market is experiencing a CAGR of 12% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 11% during (2023 - 2030).
Based on Switching Mechanism, the market is segmented into Contactor, and Circuit. Based on End-Use, the market is segmented into Residential, Commercial, Industrial. Based on Transition Mode, the market is segmented into Closed, Soft Load, Open, and Delayed. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Automatic Transfer Switch Market is Predict to reach $1.5 Billion by 2030, at a CAGR of 10.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric Company, Siemens AG, Generac Holdings, Inc., ABB LTD., Kohler Co., Schneider Electric SE, Caterpillar, Inc., Cummins, Inc., Eaton Corporation PLC, Vertiv Holdings Co.
By Switching Mechanism
By End-Use
By Transition Mode
By Country
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