In 2017, world gross
electricity production was augmented by 2.5% than in 2016. Increasing access to
electricity around the world, especially in Asian countries such as India, is
rising the requirement for reliable electricity delivery. Competitive business
models coupled with efficient electricity supply enhances adaptability and
innovation in manufacturing and office environments. Growing dependence on
electronic and electric equipment in industries and residences is increasing
the significance to mitigate power supply fluctuations to prevent the failure
of electronic equipment. Power supply issues such as sags and spikes in power
supply and power outages are one of the overwhelming threats in the industrial
and manufacturing sectors. In the modern industry, increasing levels of
automation are impacting power cuts to a greater extent. Even temporary flicker
of power supply can result in the wastage of expensive raw material and a
mind-boggling array of glitches to the equipment. Therefore, these myriad power
problems in the industrial as well as in the residential sectors are growing
the demand for the transfer switch market. Owing to its fastest switching property,
a static transfer switch is used in electric power sources for large loads to
perform instantaneous switching. Due to this property, time consumption for
switching is saved thereby making it an apt semiconductor element in the
industrial power sources. Subsequently, stringent maintenance and effective use
of static transfer switches (STS), both manual transfer switch and automatic
transfer switch are used to keep the critical power supply systems intact. As a
result, the static transfer switch market is thriving with the demand rising to
manage critical power applications.
The rising levels of
automation in the industries are considerably amplifying the static transfer
switch market growth. Furthermore, the Static Transfer Switch Market size was
valued at $640.35 million in 2018 and rising at a CAGR of 8.4% over the forecast period 2019-2025.
IoT and Increasing
Electricity Consumption Collectively Boosting the Growth of the Static Transfer
Switch Market in Residential Sector
The residential sector
is a dominant end-user of the static transfer switch market and the application
is experiencing a growth rate of 10.28% during the aforementioned period. A
static transfer switch offers seamless applications in the residential sector.
The growing sophistication of IoT devices in the residential environment
leading to the proliferation of smart homes and devices is augmenting the STS
market demand in this sector. Complete redundancy and exceptional reliability
of these switches are used in the uninterrupted power supply of these devices.
Therefore, IoT is a driving factor for the dominance of the static transfer
switch market in the residential vertical.
Another factor
boosting the growth of the static transfer switch market is electricity
consumption and its higher prices in the residential segment. For instance, in
the U.S, during January-May, energy consumption estimated in 2019 was about
9,362 trillion Btu which constituted about 22% of the total energy consumption
from all sectors of that country. Besides, in the U.S, electricity prices in
the residential sector alone increased by 2.3% during 2018-2019. However,
the higher retail price of electricity in the residential sectors when compared
to other verticals generates a huge amount of sales. Owing to this huge
expenditure, energy-efficiency is a key parameter in the residential sectors
which is significant to the countries. In highly-sensitive electronic
appliances, static transfer switch, especially soft-loading transfer switch
ensures effective implementation of load transfer to discard the overloading
and under-loading effects thereby providing the uninterrupted power supply.
This saves energy-consumption of the consumer electronic appliances used in the
residential segment. Consequently, energy-efficiency and higher electricity
consumption demand of the residential sector is acting as a growth driver to
boost the static transfer switch market demand.
End-Users of APAC
Constituting the Proliferation in Static Transfer Switch Market Sales
APAC static transfer
switch market share dominated the global marketplace and occupied a share of
about 35.5% in 2018. Being a sought-after element for the end-users such as
electronics and telecommunications reigning the APAC countries, the static
transfer switch market demand is rising in this region. Besides, APAC countries
such as India, China, and South Korea are emerging in the Information
Technology sector which is proliferating the demand for the static transfer
switch market in the datacenters. The need for resilience in critical
installations along with ongoing safety is crucial parameters in the
datacenters. Along with that, unplanned downtime due to power outages is a
critical parameter driving the losses in the manufacturing and IT companies.
These issues are addressed by the static transfer switch equipped in a
datacenter and telecommunication systems. As a result, the static transfer
switch market growth is surging with the demand from end-users of APAC.
Key Players Dominance
in the Global Static Transfer Switch Market Share
Companies occupying a
dominant part in the global static transfer switch market share are ABB,
Cummins Corporation, Honeywell International Inc., Emerson Electric Co., Eaton
Corporation Inc., Generac Power Systems, APC by Schneider Electric, Delta
Electronics, Inc., Schneider Electric SE, Power Distribution, Inc., SOCOMEC
Group S.A., and Vertiv Co. Companies’ strategies are shaping their focus to
innovate STS solutions in the end-user applications, especially in automotive
and IT.
Few of the innovations
from the industry players include:
· => In 2018, ABB, a Swiss-Swedish multinational
corporation headquartered in Zurich operating in heavy machinery, electrical
and power equipment, automation, and technology, launched the extension of
Cyberex® SuperSwitch®4 digital static transfer switch (DSTS). Designed with a
‘true’ fault tolerance effect, this new product ensures power quality detection
with optimum reliability and efficiency. It boasts zero power failure
achieved by patented transfer algorithms and mitigates load imbalances making
them apt for industrial and commercial applications.
· => In 2018, Power Continuity Ltd., expertise in
building automatic critical power protection solutions, collaborated with
SOCOMEC Group S.A., to provide multiple STS configurations to its automotive
client. The company required a maximum efficiency generator transfer switch
which ensures a reliable track record along with no power failure. This allowed
Power Continuity to collaborate with Socomec STATYS transfer systems. Their
combination offered reliable STS systems which offer rapid transfer rate in
mission-critical applications.
· => In 2018, Power Distribution, Inc., a pioneer
in offering intelligent power solutions, power transformation, and power
distribution for mission-critical applications recently launched 1200A
WaveStar® TFA (True Front Access) Static Transfer Switch (STS) which uses
silicon-controlled rectifiers. This new product retains the same footprint
of 800 AMP STS while significantly boosts the power load transfer. This enables
IR scanning and touch-screen display power monitoring capabilities by allowing
front access in commonly used electronic appliances to enhance workforce safety
in the datacenter applications.
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Related Reports:
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Market
https://www.industryarc.com/Report/15002/disconnect-switch-market.html
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https://www.industryarc.com/Report/121/Safety-Sensors-Market.html
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