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The global surge protection devices market reached a value of US$ 3.06 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.39 Billion by 2027, exhibiting at a CAGR of 5.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Surge protection devices (SPDs) are small electric power supply network, which are extensively deployed in the commercial and residential sectors for protecting electrical devices and appliances from voltage spikes. They operate when the transient voltage transpires on the protected circuit, and then it inhibits the transient voltage by diverting the current back to its source. They are commercially available in varying types, such as voltage limiting and switching. The voltage limiting components change in impedance as currents rise whereas, switching components turn on once a threshold voltage is exceeded and instantly drop to a low impedance.
The rapid expansion in the automotive industry, along with the escalating demand for slim smart portable appliances with a faster processor, better power densities and enhanced sensitivity, are key factors primarily driving the global surge protection devices market toward growth. Furthermore, the increasing utilization of electrical and mechanical components in the automobile sectors for improving driving assistance, navigation, passenger, telematics, safety and comfort is positively influencing the market. In line with this, the use of these devices for delivering smart and high-performance functionalities by inhibiting the overheating and preventing wires is propelling the market growth. Other than this, the introduction of equipment miniaturization has also led to the growth in the demand for circuit protection solutions in the market across the globe. Additionally, the growing investments and funding made by manufacturers for developing compact and innovative products for dealing with the vulnerable voltages and electrical surges are positively impacting the market. Other than this, the numerous initiatives undertaken by the governments of various nations for enhancing the infrastructure to mandate the safety standards of workplaces are creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global surge protection devices market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, type, power rating and end user.
Breakup by Product:
Breakup by Type:
Breakup by Power Rating:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Belkin International Inc. (Hon Hai Precision Industry Co. Ltd.), Eaton Corporation PLC, Emerson Electric Co., General Electric Company, Havells India Ltd., Hubbell Incorporated, Koninklijke Philips N.V., Legrand, Littelfuse Inc., Mersen, Schneider Electric SE and Siemens AG.
|Base Year of the Analysis||2021|
|Segment Coverage||Product, Type, Power Rating, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||ABB Ltd., Belkin International Inc. (Hon Hai Precision Industry Co. Ltd.), Eaton Corporation PLC, Emerson Electric Co., General Electric Company, Havells India Ltd., Hubbell Incorporated, Koninklijke Philips N.V., Legrand, Littelfuse Inc., Mersen, Schneider Electric SE and Siemens AG.|
|Customization Scope||10% Free Customization|
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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