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Between 2023 and 2030, the surge protection devices market is projected to generate $5.38 billion at a 7% CAGR. The increasing number of modern electrical and electronic devices deployed in homes and businesses necessitates surge protectors to prevent damage. Alternative energy programmes are being aggressively pursued across the globe, and rising operational expenses due to power quality issues and the resulting frequent equipment failure are also projected to drive demand. The capacity of surge protectors to reduce energy consumption by devices is also anticipated to play a significant role in propelling the market forward throughout the forecast period.
A surge protector is a device that prevents damage to electrical appliances from sudden spikes in voltage. A surge protector is a device that seeks to reduce the voltage transmitted to electrical equipment by either blocking the excess voltage or shorting it to ground. The surge protector is a crucial component of the electrical installation protection systems utilised by telephone, communication, and electrical power supply networks.
It is predicted that the market would expand rapidly during the next few years. The industry is expected to grow as a result of public safety policy changes being implemented by governments around the world. In the United States, for instance, the National Electrical Code is developed and supported by the National Fire Protection Association (NFPA) in Quincy, Massachusetts, and is revised every three years to account for advances in electrical technology. Surge protection for the entire home is required under the updated 2020 edition of the code. The new regulation applies only to newly constructed homes, but the updated service panel allows it to be used in older homes as well. The new national electrical code mandates the use of surge protectors to protect electrical equipment like computers and home appliances from damaging power spikes.
The rising popularity of "smart" power strips is the main factor propelling the industry forward. Power strips with Wi-Fi are widely popular among consumers because to their convenient automated features, such as the ability to set timers and monitor energy consumption. Therefore, several manufacturers are working to include Wi-Fi capabilities into power strips. high price of repairs Due to the high expense of maintaining the SPD device, the market has been slowed by the necessity of installing the luminaire for optimal SPD performance. It is important to check the SPD's components such the wiring, gas discharge tubes, cartridges, and LEDs on a regular basis. The cost of maintaining SPDs is thus increased by replacement. Surge protector plug-ins can be connected to either the appliance or a grounded electrical outlet. The market is expected to expand as a result of the increasing need for surge protection devices in industrial settings, particularly in relation to lighting circuits, motor controllers, and power distribution. A number of major market players supply surge protection products and contribute to the expansion of the industry.
The growth of the electronic device market and the adoption of high voltage gear and tools in factories are two major drivers of the surge protection industry. However, the market expansion is hampered by the expensive cost of maintaining surge protection equipment. Market expansion is also anticipated to benefit from emerging economies' increasing industrialisation and the adoption of protection systems for high-tech equipment. The electrical power supply, communication, and telephone networks all rely on electrical installation protection systems, which include surge protection devices. Overvoltage protection, often known as high voltage protection, is the primary function of this device. By blocking or shorting off the excessive voltage, a surge protector protects an electrical gadget from damage. Protecting low-voltage distribution systems from a direct lightning strike into an overhead power supply line or an external lightning protection system is only one of the ways in which surge protectors shine.
The market for commercial complexes is expected to grow at a healthy CAGR over the next several years. Commercial activity in developing economies like India is expanding rapidly because of government initiatives like Make in India and Startup India. It is anticipated that commercial sector competition will increase in particular as a result of such stimulating activities. As a result, businesses are predicted to increase their use of SPDs over the coming years in order to protect their equipment, avoid unplanned downtime, cut expenses, and boost profits. Good news for the industry as a whole is that electrical designers are placing a premium on making sure commercial SPDs are installed in accordance with code.
Report Coverage
Global Surge Protection Devices research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Surge Protection Devices report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Surge Protection Devices competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Surge Protection Devices market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Surge Protection Devices market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Surge Protection Devices market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB, General Electric, Schneider Electric, Eaton, Legrand, Emerson Electric Co., Siemens, cg.com, Tripp Lite, Vertiv Group Corp..
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Surge Protection Devices market based on the below-mentioned segments:
Global Surge Protection Devices Market, By Product
Hard-wired
Plug-in
Line Cord
Power Control Devices
Global Surge Protection Devices Market, By End User
Commercial Complexes
Data Center
Industries & Manufacturing Units
Medical
Residential Buildings & Spaces
Telecommunication
Transportation
Others
Global Surge Protection Devices market, Regional Analysis
A surge protector is a device that prevents damage to electrical appliances from sudden spikes in voltage. A surge protector is a device that seeks to reduce the voltage transmitted to electrical equipment by either blocking the excess voltage or shorting it to ground. The surge protector is a crucial component of the electrical installation protection systems utilised by telephone, communication, and electrical power supply networks.
It is predicted that the market would expand rapidly during the next few years. The industry is expected to grow as a result of public safety policy changes being implemented by governments around the world. In the United States, for instance, the National Electrical Code is developed and supported by the National Fire Protection Association (NFPA) in Quincy, Massachusetts, and is revised every three years to account for advances in electrical technology. Surge protection for the entire home is required under the updated 2020 edition of the code. The new regulation applies only to newly constructed homes, but the updated service panel allows it to be used in older homes as well. The new national electrical code mandates the use of surge protectors to protect electrical equipment like computers and home appliances from damaging power spikes.
The rising popularity of "smart" power strips is the main factor propelling the industry forward. Power strips with Wi-Fi are widely popular among consumers because to their convenient automated features, such as the ability to set timers and monitor energy consumption. Therefore, several manufacturers are working to include Wi-Fi capabilities into power strips. high price of repairs Due to the high expense of maintaining the SPD device, the market has been slowed by the necessity of installing the luminaire for optimal SPD performance. It is important to check the SPD's components such the wiring, gas discharge tubes, cartridges, and LEDs on a regular basis. The cost of maintaining SPDs is thus increased by replacement. Surge protector plug-ins can be connected to either the appliance or a grounded electrical outlet. The market is expected to expand as a result of the increasing need for surge protection devices in industrial settings, particularly in relation to lighting circuits, motor controllers, and power distribution. A number of major market players supply surge protection products and contribute to the expansion of the industry.
The growth of the electronic device market and the adoption of high voltage gear and tools in factories are two major drivers of the surge protection industry. However, the market expansion is hampered by the expensive cost of maintaining surge protection equipment. Market expansion is also anticipated to benefit from emerging economies' increasing industrialisation and the adoption of protection systems for high-tech equipment. The electrical power supply, communication, and telephone networks all rely on electrical installation protection systems, which include surge protection devices. Overvoltage protection, often known as high voltage protection, is the primary function of this device. By blocking or shorting off the excessive voltage, a surge protector protects an electrical gadget from damage. Protecting low-voltage distribution systems from a direct lightning strike into an overhead power supply line or an external lightning protection system is only one of the ways in which surge protectors shine.
The market for commercial complexes is expected to grow at a healthy CAGR over the next several years. Commercial activity in developing economies like India is expanding rapidly because of government initiatives like Make in India and Startup India. It is anticipated that commercial sector competition will increase in particular as a result of such stimulating activities. As a result, businesses are predicted to increase their use of SPDs over the coming years in order to protect their equipment, avoid unplanned downtime, cut expenses, and boost profits. Good news for the industry as a whole is that electrical designers are placing a premium on making sure commercial SPDs are installed in accordance with code.
Report Coverage
Global Surge Protection Devices research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Surge Protection Devices report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Surge Protection Devices competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Surge Protection Devices market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ABB, General Electric, Schneider Electric, Eaton, Legrand, Emerson Electric Co., Siemens, cg.com, Tripp Lite, Vertiv Group Corp.. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Surge Protection Devices Market from 2021 to 2030.
- Market Forecast for Surge Protection Devices Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Surge Protection Devices competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Surge Protection Devices
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Surge Protection Devices market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Surge Protection Devices market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB, General Electric, Schneider Electric, Eaton, Legrand, Emerson Electric Co., Siemens, cg.com, Tripp Lite, Vertiv Group Corp..
Primary Target Market
- Market Players of Surge Protection Devices
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Surge Protection Devices market based on the below-mentioned segments:
Global Surge Protection Devices Market, By Product
Hard-wired
Plug-in
Line Cord
Power Control Devices
Global Surge Protection Devices Market, By End User
Commercial Complexes
Data Center
Industries & Manufacturing Units
Medical
Residential Buildings & Spaces
Telecommunication
Transportation
Others
Global Surge Protection Devices market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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