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Surge Protector Market Growth
Surge protectors typically operate by using metal oxide varistors (MOVs) or gas discharge tubes to divert excess voltage away from connected devices.
WILMINGTON, DE , UNITED STATES, February 13, 2024 /EINPresswire / -- The Global Surge Protector Market size was valued at $3.9 billion in 2020 and is anticipated to generate $6.8 billion by 2030. The market is projected to experience growth at a CAGR of 5.4% from 2021 to 2030.
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The surge protector market plays a crucial role in protecting our advanced electronic infrastructure from the hidden dangers of power surges and electrical fluctuations. As we become increasingly dependent on electronic devices, the need for surge protection cannot be emphasized enough. This vibrant market offers a wide range of products and solutions designed to cater to the ever-changing demands of individuals, corporations, and industries around the globe.
The fast-paced development of technology has led to a simultaneous evolution in the surge protector market, marked by inventiveness, durability, and versatility. From simple power strips with surge protection features to complex whole-house systems, a wide range of solutions is available to reduce the dangers posed by power surges.
Key Insights from the Surge Protector Market Report:
Types of Surge Protectors:
The surge protector market offers various types tailored to diverse needs:
. Type 1: These are like the robust guardians, built for heavy-duty protection.
. Type 2: A versatile option, balancing protection and affordability.
. Type 3: Sleek and efficient, ideal for everyday electronics.
Voltage Variants:
Surge protectors come in different voltage ranges, catering to specific power needs:
. High Voltage: Powerhouses designed for industrial setups and critical infrastructure.
. Medium Voltage: A reliable choice for commercial establishments with moderate power demands.
. Low Voltage: Perfect for residential use, ensuring safety for household electronics.
Applications:
The surge protector market serves a wide range of applications, including:
. Industrial: Safeguarding machinery, equipment, and processes from electrical surges.
. Commercial: Protecting sensitive electronics in offices, retail spaces, and other business environments.
. Residential: Ensuring the safety and longevity of household appliances and devices.
Sales Channels:
Surge protectors are available through various sales channels, catering to diverse consumer preferences:
. Online: Convenient shopping options, accessible from the comfort of your home or office.
. Offline: Traditional brick-and-mortar stores offering in-person assistance and product demonstrations.
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Everyday surge protectors may protect our electronics from voltage fluctuations, but they are no match for the intense power of a lightning strike. Their small electronic components are not capable of shielding against such a powerful and destructive force.
The rise in demand for surge protectors can be attributed to the widespread use of delicate electronic devices in both homes and businesses. As technology continues to play a vital role in our daily lives, the threat of power surges damaging these valuable gadgets has become a major worry. As a result, more and more consumers are recognizing the importance of surge protectors as a preventative measure to protect their valuable investments from any unforeseen electrical disruptions.
Power surge protector is designed to protect electrical appliances from voltage spikes. These protectors limit voltage supplied to an electric device by either blocking or shorting any unwanted voltages above a safe threshold limit to the ground. They are used in automatic control buses, electric power supply networks, telephone networks, and various communication systems.
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Key Findings of the Study:
. A comprehensive analysis of the factors that drive and restrain the global surge protector market growth is provided
. The qualitative data in this report aims at the market trends, dynamics, and developments in the global surge protector industry
. The global surge protector market forecast and estimations are based on factors impacting the market growth
. The global Surge Protector Market size is provided in terms of revenue
. In 2020, the industrial segment accounted for about 49.3% of the share in the global market, and is expected to maintain its dominance till the end of the forecast period.
. In 2020, the type 1 segment accounted for 43.8% surge protector market share in the year 2020, and is protector market.
. Online sales channel is the fastest-growing segment in the global market, expected to grow at a CAGR of 5.6% during 2021–2030.
. Type 1 is expected to grow at the fastest rate, registering a CAGR of 5.2%, throughout the forecast period
Competitive Analysis:
The Surge Protector Industry's key market players adopt various strategies such as product launches, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Key Market Players:
General Electric, Eaton Corporation, Legrand, VERTIV HOLDINGS CO., Honeywell, Vertiv Group Corp., Siemens AG, ABB Ltd., Johnson Controls, Schneider Electric, HAVELLS INDIA LIMITED, Havells
David Correa
Allied Market Research
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