logo

Asia Pacific Transfer Switches Market Size (2024 - 2029)

The Asia Pacific transfer switches market is experiencing growth driven by increasing urbanization and industrialization, which heighten the demand for modern electrical infrastructure. The shift towards renewable energy sources, accelerated by the pandemic, has further boosted the need for transfer switches, essential for ensuring reliable power supply across various industries. Investments by vendors in innovative transfer switch technologies are contributing to the market's expansion. However, the market's growth is tempered by safety concerns, as improper operation of these switches can lead to hazards such as electrical shocks, fires, and mechanical risks.

Home Market Analysis Technology, Media and Telecom Research Electronics Research Electronic Components Research Active Electronics Research Switch Research Asia Pacific Transfer Switches Market Market Size

Market Size of Asia Pacific Transfer Switches Industry

Asia Pacific Transfer Switches Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.67 %
Market Concentration Medium

Major Players

Asia Pacific Transfer Switches Market Key Players

*Disclaimer: Major Players sorted in no particular order

APAC Transfer Switches Market Analysis

The Asia Pacific transfer switches market (hereafter referred to as the market studied) was valued at USD 461.35 million in 2020. It is expected to reach USD 724.82 million by 2026, registering a CAGR of 6.67% during 2021-2026 (hereafter referred to as the forecast period). The pandemic led to a growth in the initiatives toward renewable energy, which pushes the demand for transfer switches. During the COVID-19 pandemic, allied utilities turned their attention from coal-based generation to renewables.

  • Transfer switches are devices that allow users to transfer between different power sources, most commonly backup generators. It provides numerous industries with assurance, simplicity, and hassle-free continuous and switching power supply. As a result, their growth is influenced and reliant on the power and transmission industries.
  • The increasing urbanization and industrialization are developing the need for transfer switches. According to the World Bank, the urbanization rate in Vietnam increased from 36.63% in 2019 to 37.34% in 2020. In addition, in Indonesia, the urbanization rate increased from 55.99% in 2019 to 56.64% in 2020. The increase in urbanization creates a need for modern electrical infrastructure, driving the growth of the market.
  • The propelling investments by the vendors operating in the market are also triggering the market's growth. In May 2021, Cummins Inc. introduced its power transfer equipment for mission-critical and life-saving applications, the PowerCommand X-Series transfer switches.
  • Available in automatic and non-automatic configurations, the new switches are designed for versatility and offer current ratings from 40 to 3000 amps. They are suitable for a broad range of applications, including commercial retail facilities, healthcare centers, and large data centers. Additionally, the PowerCommand X-Series transfer switches incorporate a newly designed high endurance mechanism (HEM) engineered to accommodate very large current loads for extended periods with no failure or loss of control.
  • Further, despite several innovations, these switches are still susceptible to various hazards if not appropriately operated with safety precautions. Electrical shock and burns, fire and explosions, heat build-up, and mechanical hazards are some of the hazards that these switches can cause. Hence, these factors act as certain restraining factors in the studied market.

APAC Transfer Switches Industry Segmentation

A transfer switch is a critical component of any emergency or standby power system. When the normal (preferred) source of power is lost, a transfer switch quickly and safely shifts the load circuit from the normal source of power to the emergency (alternate) source of power. The Asia Pacific Transfer Switches are segmented by Applications (Industrial, Commercial, Residential) and by Type ( Manual, Automatic) and Country.

By Application
Industrial
Commercial
Residential
By Type
Manual
Automatic
By Country
China
Japan
South Korea
South East Asia
Australia and New Zealand
Rest of Asia Pacific
Need A Different Region Or Segment?
Customize Now

Asia Pacific Transfer Switches Market Size Summary

The Asia Pacific transfer switches market is experiencing significant growth, driven by increasing urbanization, industrialization, and a shift towards renewable energy sources. Transfer switches, which facilitate the seamless transition between different power sources, are becoming essential in various sectors, including healthcare, data centers, and commercial facilities. The demand for these devices is further propelled by the region's rapid urban development, which necessitates modern electrical infrastructure. The market is characterized by the introduction of advanced products, such as Cummins Inc.'s PowerCommand X-Series and Schneider Electric's TransferPacT series, which offer enhanced features and reliability for critical applications. Despite the growth, the market faces challenges related to safety hazards associated with transfer switch operations.

The market landscape is moderately consolidated, with numerous players holding minimal shares, contributing to its fragmented nature. Key companies like ABB Ltd, Schneider Electric SE, and Siemens AG are actively investing in innovative solutions to capture market share. The region's electricity demand is rapidly increasing, particularly in Southeast Asia, driven by the rising ownership of household appliances and air conditioning units. This surge in demand is encouraging investments in both residential and utility-scale energy storage systems. Additionally, initiatives like those by the Australian Renewable Energy Agency are fostering the development of large-scale storage solutions. The market's growth is further supported by strategic partnerships and investments in renewable energy projects across the region, aiming to enhance grid flexibility and support the transition to cleaner energy sources.

Explore More

Asia Pacific Transfer Switches Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Assessment of the Impact of COVID-19 on the Industry

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitutes

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Application

      1. 2.1.1 Industrial

      2. 2.1.2 Commercial

      3. 2.1.3 Residential

    2. 2.2 By Type

      1. 2.2.1 Manual

      2. 2.2.2 Automatic

    3. 2.3 By Country

      1. 2.3.1 China

      2. 2.3.2 Japan

      3. 2.3.3 South Korea

      4. 2.3.4 South East Asia

      5. 2.3.5 Australia and New Zealand

      6. 2.3.6 Rest of Asia Pacific

Asia Pacific Transfer Switches Market Size FAQs

The Asia Pacific Transfer Switches Market is projected to register a CAGR of 6.67% during the forecast period (2024-2029)

ABB Ltd , Schneider Electric SE , Cummins Inc. , Generac Power Systems Inc.​ and Siemens AG​ are the major companies operating in the Asia Pacific Transfer Switches Market.

Asia Pacific Transfer Switches Report Snapshots

Asia Pacific Transfer Switches Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)