Report Code: A14994 | Pages: 316 | Dec 2021 | 2034 Views | ||
Author(s) : Yamini P, Mohd. A , Eswara P | Tables: 270 | Charts: 68 |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Surge Protector Market
Request Now !The global surge protector market was valued at $3.9 billion in 2020, and is projected to reach $6.8 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030. Surge protector provide best protection from both externally and internally generated surges when located as close to the building distribution system as possible. For cost and space reasons, many buildings only include one surge protection device (SPD) located at the main incoming panel and do not cascade SPDs throughout the building.
The COVID-19 pandemic has severely impacted the global manufacturing and industrial sectors as production facilities have stalled, which, in turn, led to significant decrease in demand in industries and thus, impacted surge protector market negatively.
Since surge protectors are economical and easy to install in most panels throughout a building, this acts as driving factor for the market growth in the country. The whole facility protection can be obtained by the use of surge protectors.
However, lack of awareness among small scale manufactures and competition from uninterrupted and non-fluctuating power supply systems and no guaranteed protection hampers the market growth for surge protectors.
The key players operating and profiled in the surge protector industry report include ABB Ltd., Eaton Corporation, General Electric, Schneider Electric, Honeywell, Siemens AG, Johnson Controls, Legrand, Havells, and Vertiv Group Corp.
Global surge protector Market, by Type
Depending on type, the type 1 segment dominated the market for 202,0 owing to wide use of the product in residential and industrial sectors. The type 1 segment is expected to grow at higher CAGR during the forecast period, owing to rise in demand from the residential sector.
Global surge protector Market, by Voltage
On the basis of voltage, the high voltage segment dominated the market share for 2020, owing to their application in heavy industry operations. The same is forecasted, owing to growth at the higher CAGR due to use in residential areas where applications of such surge protectors is growing.
Global surge protector Market, by Application
On the basis of application, the industrial segment dominated the market share for 2020, owing to wide application of surge protectors in the sector. It is also expected to grow at the higher CAGR during the forecast period.
Global surge protector Market, by Sales Channel
By sales channel, the offline sales channel segment dominated the market share for 2020, which is attributed to the fact that consumer is much more comfortable in purchasing such devices after getting proper knowledge about, product, especially technical information. However, growing e-commerce industry and benefit of home delivery is anticipated to drive growth for online channel at a higher CAGR during the forecast period.
Global surge protector Market, by Region
By region, the North America dominated the market share for 2020. It is also anticipated to grow at a higher CAGR during the forecast period owing to rising demand for electronics items.
Surge Protector Market Report Highlights
Aspects | Details |
---|---|
By Type |
|
By Voltage |
|
By Application |
|
By Sales Channel |
|
By Region |
|
Key Market Players | ABB Ltd., Eaton Corporation, General Electric, Schneider Electric, Honeywell, Siemens AG, Johnson Controls, Legrand, Havells, Vertiv Group Corp., VERTIV HOLDINGS CO., HAVELLS INDIA LIMITED |
Loading Table Of Content...
This section provides opinions of top-level CXOs operating in the surge protector market. According to the insights of CXOs, the market is consolidated in nature, and is expected to grow at a significant rate during the forecast period. This is attributed to rise in demand for protection of electrical and electronics devices from sudden power surges. The market growth is hampered by lack of awareness and no guaranteed protection of electronics by surge protectors. Innovation in the current surge protector technology can offer wide opportunity for the market growth in the future.
A. Increase in demand for surge protectors from residential and industrial sectors are the key factors driving the global surge protector market.
A. The market share of global surge protector market $3.9 billion in 2020.
A. The report sample for global surge protector Market report can be obtained on demand from the website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.
A. The rising demand in electronics & electricals has also led to rise in demand of surge protector in-addition with automation industry.
A. Type 1 will provide more business opportunities for global surge protector market in future.
A. The top ten market players are selected based on two key attributes - competitive strength and market positioning
A. Business expansion and acquisition are the key growth strategies of global surge protector market players.
A. The leading players in the market are ABB Ltd., Eaton Corporation, General Electric, Havells, Honeywell, Johnson Controls, Legrand, Schneider Electric, Siemens, and Vertiv Group Corp.
A. Offline segment based on sales channel holds the maximum market share of the global surge protector market.
A. Automotive, electronics & electrical, pharmaceutical, and utilities are the potential customers of global surge protector industry.
Start reading instantly.
This Report and over 19,644+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers