Fast-paced advancements in the switchgear industry lead to obsolete technology as inventories become nonmoving articles or dead stock. Manufacturers should be mindful when introducing new technology, as this can result in extensive product waste and an increased carbon footprint for the planet. According to a report by IMARC, the global transfer switch market size has reached US$ 1.7 billion in 2023. IMARC Group expects the market to reach US$ 2.9 billion by 2032, exhibiting a growth rate of 5.6 per cent during 2024-2032. Experts in the industry share details of the various aspects of the switchgear innovations with the EPR Magazine.
Technological innovations and evolution
The Indian government focuses on advanced power grids and improved data systems, which opens opportunities for R&D and advanced products in the switchgear industry. Switchgear systems have IoT integration, communicable solutions, compact designs, versatile connectivity, and enhanced features. Such innovations have improved the scope for every industry to advance its electrical systems and machines. These switchgear components reduce power loss, are eco-friendly, can help the planet in the long run, and have an improved product life cycle.
The transfer switches are predominantly used in data centres, commercial buildings, hospitals, and residential settings. Transfer switches link power sources and the equipment they serve, minimising downtime and ensuring continuous power supply. These switches are segmented into automatic transfer switches and manual transfer switches.
This story is from the August 2024 edition of EPR Magazine (Electrical & Power Review).
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This story is from the August 2024 edition of EPR Magazine (Electrical & Power Review).
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