Static Transfer Switch Market Estimated to Grow at a CAGR of 7.1% During Forecast 2020 to 2025
Posted on Aug 4 2020 8:41 AM "Rising demand for uninterrupted power and adoption of smart grid technology across the globe is analyzed to drive the Static Transfer Switch Market in the forecast period." Static transfer switch (STS) is a solid-state switch based on the silicon controlled rectifier device which is forecast to reach $1.9 billion by 2025 with a CAGR of 7.1% in the forecast period. Rising demand for uninterrupted power and adoption of smart grid technology across the globe is analyzed to drive the market in the forecast period. These switches are designed to transfer supply between independent one-phase and three-phase AC power sources. Unlike traditional automatic transfer switches (ATS) and manual transfer switches, static transfer switches provide 20 times faster load transfer which ensures the uninterrupted operation of even the most sensitive electronic equipment. Moreover growing applications of static transfer switches across several industry verticals in a...