Menu ×

ELECTRONICS & SMART DEVICES

Surge Protection Devices Market Segmentation by Type (Hard-Wired, Plug-In, and Line Cord); by Power Rating (Below 10 kA, 10 kA–25 kA, and Above 25 kA); and by End-User (Industrial, Commercial, and Residential) – Global Demand Analysis & Opportunity Outlook 2030

  • Text Size:

Extensive insights into the Growth of Surge Protection Devices Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

Read More

IN THE NEWS

·    January 2021- Emerson announced updates to its SolaHD surge protective devices and power filters to prevent damage to mission-critical electronics within their facilities.

·    November 2020- Hitachi ABB launched a new surge arrestor factory in China for meeting the growing energy requirements of the region more effectively.

Global Surge Protection Devices Market Highlights 2022 – 2030

The global surge protection devices market is estimated to garner a sizeable revenue and grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing demand for protection systems for electronic devices, and rise in usage of consumer electronics across the globe. Along with these, rapid climate changes globally and subsequent increase in lightning incidences are also crucial factors expected to drive significant growth to the market in the upcoming years. Furthermore, escalating economic developments in developing nations, and growing adoption of high technology equipment such as laptops, washing machines and LCDs are projected to offer lucrative opportunities to the market in the near future. In 2019, more than 172 million units of laptops were shipped around the world, increasing up to more than 220 million units by the end of 2020.

Surge Protection Devices Market

The market is segmented by type into hard-wired, plug-in, and line cord, out of which, the plug-in segment is anticipated to hold the largest share in the global surge protection devices market. This can be accounted to the high suitability of plug-in devices for installation at the origin of the network, and their ability to effectively protect equipment from indirect lightning strikes. Additionally, on the basis of end user, the industrial segment is predicted to acquire the largest share during the forecast period, which can be credited to the increasing requirement for servers, data centers and communication systems in industries. Apart from these, growing applications of industry 4.0 initiative for electric machinery and automobiles to facilitate remote maintenance and diagnostics is also assessed to accelerate growth of the market segment in the coming years. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Global Surge Protection Devices Market Regional Synopsis

On the basis of geographical analysis, the global surge protection devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of increasing emphasis on using clean energy to meet the energy needs, especially in China, Singapore and India. In addition, rapidly growing urbanization, and rising investments in smart grid technologies and smart cities are also projected to boost the market growth of the region in the future. According to the World Bank, 60.695 percent of East Asia and Pacific’s total population lived in urban areas in 2020, up from 59.887 percent and 59.052 percent in the years 2019 and 2018 respectively.

Urban Population ForecastMoreover, the market in North America is anticipated to occupy the largest share during the forecast period owing to the early adoption of advanced technologies, and high electricity consumption in commercial and residential sectors in the region.

Surge Protection Devices Market

The global surge protection devices market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global surge protection devices market includes the following segments:

By Type

  • Hard-Wired
  • Plug-In
  • Line Cord

By Power Rating

  • Below 10 kA
  • 10 kA–25 kA
  • Above 25 kA

By End-User

  • Industrial
  • Commercial
  • Residential

Growth Drivers

  • Increasing Demand for Protection Systems for Electronic Devices
  • Rising Usage of Consumer Electronics Across the Globe

Challenges

  • Availability of Poorly Designed Surge Protection Devices

Top Featured Companies Dominating the Market

  • ABB, Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Siemens AG
  • Eaton Corporation, Plc
  • Schneider Electric
  • Emerson Electric Company
  • Vertiv Group Corporation
  • Legrand SA
  • Hubbell Incorporated
  • Littlefuse, Inc
  • Mersen Corporate Services SAS

FREQUENTLY ASKED QUESTIONS


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2021 Research Nester. All Rights Reserved