Research Nester published a report titled “Surge Protection Devices Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global surge protection devices market in terms of market segmentation by type, power rating, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global surge protection devices market is estimated to occupy a sizeable revenue by growing at a CAGR of ~5% during the forecast period, i.e., 2022 – 2030, owing to the rising demand for protection systems for electronic devices, and growing utilization of consumer electronics around the world. Apart from these, rising economic developments in developing nations, and escalating adoption of high technology equipment such as LCD, laptops and washing machines are also expected to drive market growth in the coming years.
The market is segmented by type, power rating and end-user. Based on type, the plug-in segment is anticipated to grab the largest market share during the forecast period on the back of the ability of plug-in devices to effectively protect equipment from indirect lightning strikes. Additionally, by end user, the industrial segment is projected to grab the largest share over the forecast period attributing to the rising need for servers, data centers and communication systems in industries, and increasing application of industry 4.0 initiative for electric machinery and automobiles to facilitate remote maintenance and diagnostics.
Geographically, the global surge protection devices market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the early adoption of advanced technology, and high consumption of electricity in residential and commercial sectors in the region. Moreover, the market in Asia Pacific is assessed to grow by a noteworthy rate in the future owing to the escalating focus on using clean energy, and growing investments in smart grid technologies and smart cities in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Demand for Protective Systems for Electronic Devices to Drive Market Growth
With the growing usage of electrical equipment globally, there is a mounting requirement to improve the power quality levels and reliability of electric systems. This is giving rise to the hike in demand for surge protection as it can save expensive electronic items and equipment from being damaged, which in turn is predicted to drive market growth in the near future.
However, availability of low-quality products is expected to operate as key restraint to the growth of the global surge protection devices market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global surge protection devices market which includes company profiling of ABB, Ltd., Siemens AG, Eaton Corporation, Plc, Schneider Electric, Emerson Electric Company, Vertiv Group Corporation, Legrand SA, Hubbell Incorporated, Littlefuse, Inc, Mersen Corporate Services SAS, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global surge protection devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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