Surge Protector Market to Reach $6.8 Bn, Globally, by 2030 at 5.4% CAGR: Allied Market Research

Growth in demand for protection systems for electronic devices drives the growth of the global surge protector market.

PORTLAND, Ore., Jan. 26, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “Surge Protector Market by Type (Type 1, Type 2, and Type 3), by Voltage (High, Medium, and Low), by Application (Industrial, Commercial, and Residential), and by Sales Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2021–2030According to the report, the global surge protector industry generated $3.9 billion in 2020, and is anticipated to generate $6.8 billion by 2030, witnessing a CAGR of 5.4% from 2021 to 2030.

Allied Market Research Logo

Allied Market Research Logo

Prime determinants of growth

Growth in demand for protection systems for electronic devices drives the growth of the global surge protector market. However, surge protectors only provide protection from voltage spikes and surges. This, in turn, hinders the market growth. On the other hand, high technological equipment adopted in the developing countries presents new opportunities in the coming years.

Download Sample PDF (316 Pages PDF with Insights): https://www.alliedmarketresearch.com/request-sample/15363

Covid-19 Scenario

  • The outbreak of the COVID-19 pandemic has had a slight negative impact on the growth of the global surge protector market.

  • The pandemic had declined the growth of the surge protector market in 2020. However, the market will witness a slow growth till the end of 2021.

  • Implementation of partial or complete lockdown across various countries globally is the prime reason for the decline in the growth rate. As industries were temporarily closed, the need for surge protector from various industries gradually decreased.

The Type 1 segment to maintain its leadership status throughout the forecast period

Based on type, the Type 1 segment held the highest market share in 2020, accounting for more than two-fifths of the global surge protector market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 5.5% from 2021 to 2030, owing to wide use of the product in residential and industrial sectors. Other segments analyzed in the report are Type 2 and Type 3.

Get detailed COVID-19 impact analysis on the Surge Protector Market: https://www.alliedmarketresearch.com/request-for-customization/15363?reqfor=covid

The high segment to maintain its lead position during the forecast period

Based on voltage, the high segment accounted for the largest share in 2020, contributing to more than two-fifths of the global surge protector market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 5.7% from 2021 to 2030, owing to their application in heavy industry operations. Other segments discussed in the report are medium and low.

North America to maintain its dominance by 2030

Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than one-third of the global surge protector market. Moreover, the same region is expected to witness the fastest CAGR of 5.6% during the forecast period, owing to rise in demand for electronics items. Other regions discussed in the report include Asia-Pacific, Europeand LAMEA.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/15363

Leading Market Players

  • ABB Ltd.

  • Eaton Corporation

  • General Electric

  • Schneider Electric

  • Honeywell

  • Siemens AG

  • Johnson Controls

  • Legrand

  • Havells

  • Vertiv Group Corp.

Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/surge-protector-market/purchase-options

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, and provides comprehensive reports relating to the world’s largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, farmed, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports We Have:

Circuit Breakers Market is projected to reach $14.8 billion by 2026, growing at a CAGR of 5.30% from 2019 to 2026.

Power Plant Control System Market is projected to reach $10.4 billion by 2030, growing at a CAGR of 3.6% from 2021 to 2030

Electric Service Companies (ESCO) Market is projected to reach $49.6 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030.

Power Distribution Unit Market is projected to reach $7.9 billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030.

Cable Glands Market is projected to reach $2,841.9 million by 2025, growing at a CAGR of 6.1% from 2018 to 2025.

High Voltage Capacitor Market is projected to reach $30.3 billion by 2030, growing at a CAGR of 9.9% from 2021 to 2030.

Electrical House Market is projected to reach $2.3 billion by 2030, growing at a CAGR of 6.4% from 2021 to 2030.

Pre-Book Now with 10% Discount:

Surge Arrester Market: Global Opportunity Analysis and Industry Forecast, 2019-2026

Wire and Cable Insulation and Jacketing Market – Global Analysis and Industry Forecast, 2021-2028

DC Circuit Breaker Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

Electric Utilities Market: Opportunity Analysis and Industry Forecast, 2021–2030

Busbar Protection Market: Global Opportunity Analysis and Industry Forecast 2021–2030

Electrical Equipment Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Thermal Fuse Market: Global Opportunity Analysis and Industry Forecast 2020-2027

Diamond Wire Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow us on: LinkedIn Twitter

Cision

Cision

View original content: https://www.prnewswire.com/news-releases/surge-protector-market-to-reach-6-8-bn-globally-by-2030-at-5-4-cagr-allied- market-research-301468348.html

SOURCE Allied Market Research

Leave a Comment