The global Surge Protection Device Market is valued at USD 2.5 billion in 2020 and is expected to reach USD 3.3 billion by 2026 registering a compounded annual growth rate of 4.82%.
Major Trends, Drivers and Challenges:
Strong demand from medical device sector - High precision, reliable and low weight equipment are largely required in medical field. Surgical procedures and orthopedic sectors use sophisticated equipment to cut, shape, fixate, and dissect bone as well as to fragment, emulsify and aspirate soft tissue.
Strong Demand for protection systems for Appliances and Housewares - The global demand for appliances and houseware continues to increase at 9.3% CAGR over the forecast period. Strong demand for protection systems for these appliances from both developing and developed nations presents significant market potential.
Additional Cost for Installation - As appliance manufacturers are often reluctant to integrate surge protection devices in different appliances results in additional cost of installation for end users. This pressurizes the prices of surge protection equipment and can hamper overall market growth.
Plug-in types provide fast servicing capability and provide superior protection against overvoltage and high surge conditions caused by direct or indirect fluctuations.
Line cord devices present the largest market share worldwide. Ease of use coupled wide spread applications present significant market potential for power strip with premium surge protection from damaging power transients for residential, business and industrial applications.
Global Surge Protection Device market, By Discharge Current
• Below 10 kA
• 10kA - 25 kA
• Above 25 kA
Global Surge Protection Device market, By Type
• Plug in
• Line cord
• Hard wired
Global Surge Protection Device market, By End User
Global Surge Protection Device market, By Geography
North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
Middle East and Africa (Saudi Arabia, South Africa, Rest of MEA)
South and Central America (Brazil, Argentina, Chile, Rest of SCA)
The report- ‘2021 Surge Protection Device Market - Size, Share, COVID Impact Analysis and Forecast to 2027’ presents growth projections in the Surge Protection Device Market between 2021 and 2027 for companies operating across different types, applications, and end-user verticals.
Short-term and long-term trends affecting the market landscape are included in the research. Further, market drivers, restraints, and potential opportunities are also provided in the report.
The Surge Protection Device Market report computes the 2020 market value in revenue terms based on the average Surge Protection Device prices and sales/revenue models of key companies operating in the Surge Protection Device Industry. The study forecasts the market size to 2027 for different types of Surge Protection Device and provides respective market share and growth rates.
The study discusses technological innovations and the potential shift in demand among various products in the Surge Protection Device Market, over the forecast period. The leading five companies in the Surge Protection Device Industry together with their products, key strategies, and comparisons are provided.
The Surge Protection Device Market size, share, and outlook across different types and applications are provided at geographic levels of North America, Asia Pacific, Europe, Middle East Africa, South and Central America. Further, country-level Surge Protection Device Market value is also provided.
All recent developments in Surge Protection Device Industry including mergers, acquisitions, contract awards, licenses, product launches, and expansion plans are included in the report.
• Base Year- 2020; Forecast period: 2021- 2027
• Publication frequency- Every six months
• Research Methodology- Data triangulation with top-down and Bottom-up approach are used for market size
Scope of the Report -
• Global Surge Protection Device Industry size, 2020- 2027
• Market trends, drivers, restraints, and opportunities
• Porter’s Five forces analysis
• Types of Surge Protection Device , 2020-2027
• Surge Protection Device applications and end-user verticals market size, 2020- 2027
• Surge Protection Device Market size across countries, 2020- 2027
• 5 leading companies in the industry- overview, key strategies, financials, and products
• Latest market news and developments
Additional support -
• All the data presented in tables and charts of the report is provided in a separate Excel document
• Print authentication extended
• 10% free customization to include any specific data/analysis to match with the requirement
• 3 months of analyst support