Transfer Switches Global Business Report 2024: The U.S. Market is Estimated at $380 Million, While China is Forecast to Grow at 7.2% CAGR [Yahoo! Finance]
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Source: Yahoo! Finance
The global market for Transfer Switches estimated at US$1.6 Billion in the year 2023, is projected to reach a revised size of US$2.5 Billion by 2030, growing at a CAGR of 5.7% over the analysis period 2023-2030. Automatic Transfer Switches, one of the segments analyzed in the report, is projected to record 6% CAGR and reach US$2.1 Billion by the end of the analysis period. Growth in the Manual Transfer Switches segment is estimated at 3.9% CAGR for the next 8-year period. The Transfer Switches market in the U.S. is estimated at US$380 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$596.5 Million by the year 2030 trailing a CAGR of 7.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR. Key Attributes:
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