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Surge Protection Device Market worth $4.90 billion by 2030, growing at a CAGR of 6.45% - Exclusive Report by 360iResearch
Surge Protection Device Market | 360iResearch
The Global Surge Protection Device Market to grow from USD 3.16 billion in 2023 to USD 4.90 billion by 2030, at a CAGR of 6.45%.
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Surge protection devices (SPDs), referred to as surge suppressors or transient voltage surge suppressors (TVSS), are components designed to protect electrical devices from voltage spikes. They restrict transient voltages by blocking or by shorting to ground any unwanted voltages above a safe threshold. SPDs are commonly used in power supply systems, communication systems, and other infrastructure to prevent damage to electronics caused by surges due to lightning strikes, switching events, or other disruptions. The SPDs industry is influenced by various factors, including the increasing reliance on sensitive electronic equipment, the rise in the frequency of electrical surges, and greater awareness of the cost of downtime due to equipment failures. Moreover, regulatory standards mandating the use of SPDs in specific industries propel their adoption. A lack of standardization across different regions can be a barrier to entry for new players. Integration of renewable energy sources with existing grids presents compatibility challenges for SPDs. Moreover, there are opportunities for innovation and the development of new products tailored to the emerging needs of the power quality industry. Prospects within the SPD industry are burgeoning due to the growth of smart grid systems, the surge in renewable energy installations, and the need for protection in high-tech manufacturing facilities. These advancements require robust surge protection solutions, extending new avenues for industry expansion.
Market Segmentation & Coverage:
This research report categorizes the Surge Protection Device Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Type 1 SPD, Type 2 SPD, and Type 3 SPD. The Type 2 SPD is projected to witness significant market share during forecast period.
Based on End User, market is studied across Commercial, Industrial, and Residential. The Commercial is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.41% in 2023, followed by Europe, Middle East & Africa.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Surge Protection Device Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Surge Protection Device Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Surge Protection Device Market, highlighting leading vendors and their innovative profiles. These include ABB, Ltd., Avantor, Inc., Eaton Corporation, PLC, Emerson Electric Co., General Electric Company, Havells Group, Hubbell Incorporated, ISG Global, JMV LPS Limited, Koninklijke Philips N.V., Legrand, Leviton Manufacturing Company, Inc., Littelfuse, Inc., MCG Surge Protection, Mersen Electrical Power, Pentair, Raycap S.A., Schneider Electric SE, Siemens AG, and Synergy Systems, Inc..
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Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Surge Protection Device Market, by Type
7. Surge Protection Device Market, by End User
8. Americas Surge Protection Device Market
9. Asia-Pacific Surge Protection Device Market
10. Europe, Middle East & Africa Surge Protection Device Market
11. Competitive Landscape
12. Competitive Portfolio
13. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Surge Protection Device Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Surge Protection Device Market?
3. What is the competitive strategic window for opportunities in the Surge Protection Device Market?
4. What are the technology trends and regulatory frameworks in the Surge Protection Device Market?
5. What is the market share of the leading vendors in the Surge Protection Device Market?
6. What modes and strategic moves are considered suitable for entering the Surge Protection Device Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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