Surge Protection Devices Market, By Type (Hardwired Surge Protection Devices, Plug-in Surge Protection Devices, Line Cord Surge Protectors, Power Control Center, Others), By Discharge Current (Below 10 kA, 10 kA-25 kA, Above 25 kA, Others), By End-user (Industrial, Commercial, Residential, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)
Surge Protection Devices (SPDs) are electrical devices designed to protect electronic equipment and appliances from voltage spikes and surges caused by lightning strikes or power fluctuations. These devices play a crucial role in safeguarding sensitive equipment, such as computers, televisions, and industrial machinery, from damage caused by electrical overloads. The global surge protection devices market has witnessed significant growth over the years, driven by the increasing demand for reliable power supply and the growing adoption of electronic devices across various industries.
Market Dynamics:
The surge protection devices market is primarily driven by the need for uninterrupted power supply and the rising awareness about the importance of protecting electronic equipment from voltage surges. With the increasing deployment of electronic devices in residential, commercial, and industrial sectors, the risk of power disturbances also escalates. This has led to a rise in the demand for surge protection devices to ensure the safety and longevity of electronic equipment.
On the other hand, the market is restrained by the high cost associated with surge protection devices and the lack of awareness among end-users about the benefits of using such devices. The initial investment required for installing surge protection devices can be perceived as a significant barrier, especially for budget-conscious consumers. Additionally, the lack of knowledge about the potential damage caused by voltage surges hinders the market growth.
However, the surge protection devices market presents several growth opportunities. The increasing demand for reliable power supply in industries such as manufacturing, healthcare, and telecommunications is expected to drive the market. Additionally, the growing construction industry, especially in developing economies, presents lucrative growth prospects for surge protection device manufacturers.
Key features of the study:
This report provides in-depth analysis of the global surge protection devices market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global surge protection devices market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include ABB, Schneider Electric, Eaton, Siemens, Emerson, Vertiv, Raycap, Hager, Legrand, Tripp Lite, Leviton, Phoenix Contact, Citel, General Electric, Rockwell Automation, nVent, Belkin, REV Ritter, Littelfuse, and MARS Sicherheit.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global surge protection devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global surge protection devices market
Detailed Segmentation:
By Type
Hardwired Surge Protection Devices
Plug-in Surge Protection Devices
Line Cord Surge Protectors
Power Control Center
Others
By Discharge Current
Below 10 kA
10 kA-25 kA
Above 25 kA
Others
By End-user
Industrial
Commercial
Residential
Others
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Top companies in Surge Protection Devices Market:
ABB
Schneider Electric
Eaton
Siemens
Emerson
Vertiv
Raycap
Hager
Legrand
Tripp Lite
Leviton
Phoenix Contact
Citel
General Electric
Rockwell Automation
nVent
Belkin
REV Ritter
Littelfuse
MARS Sicherheit
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snapshot, By Type
Market Snapshot, By Discharge Current
Market Snapshot, By End user
Market Snapshot, By Geography
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Increasing demand from industrial sector
Presence of low-quality and counterfeit products
Growing HVAC and building management systems market