Surge Protector Market to grow from $3.9 billion in 2020 to $6.8 billion by 2030, with a 5.4% CAGR from 2021 to 2030

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.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
https://www.alliedmarketresearch.com/request-sample/A14994

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.

A common surge protector stops voltage spikes and surges, but not the violent, catastrophic burst of current from a close lightning strike. Direct lightning current is simply too big to shield with a little electronic device inside a power strip.

The global market is segmented on the basis of type, voltage, application, and sales channel. Depending on type, the market is divided into type 1, type 2, and type 3. On the basis of voltage, it is categorized into low, medium, and high. Based on application, it is bifurcated into residential, commercial, and industrial. By sales channel, the market is divided into online and offline.

𝐒𝐮𝐫𝐠𝐞 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• 𝐁𝐲 𝐓𝐲𝐩𝐞
Type 1
Type 2
Type 3

• 𝐁𝐲 𝐕𝐨𝐥𝐭𝐚𝐠𝐞
High
Medium
Low

• 𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
Industrial
Commercial
Residential

• 𝐁𝐲 𝐒𝐚𝐥𝐞𝐬 𝐂𝐡𝐚𝐧𝐧𝐞𝐥
Online
Offline

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐎𝐧 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.alliedmarketresearch.com/checkout-final/1fc07aa06a2931c854a468d42706192e

The key factor that drives the surge protector market includes increase in demand for usage of electrical and electronics appliances in commercial & residential sectors. Moreover, high costs incurred due to electrical equipment downtime have also encouraged adoption of whole house surge protector as it provides safety in industries and residences. Key factors that hamper the market growth are lack of awareness among small scale manufactures and competition from uninterrupted and non-fluctuating power supply systems. On the contrary, growth in awareness for need of surge protectors, rapid industrialization, and power supply issues in developing countries are anticipated to provide lucrative opportunities for the global market.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭:
https://www.alliedmarketresearch.com/connect-to-analyst/A14994

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

• 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
• 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

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

• Siemens AG
• Honeywell
• Eaton Corporation
• ABB Ltd.
• Legrand
• Schneider Electric
• Johnson Controls
• Havells
• General Electric
• VERTIV HOLDINGS CO.
• HAVELLS INDIA LIMITED
• Vertiv Group Corp.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

David Correa
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help@alliedmarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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This release was published on openPR.