The global lightning protection market size was valued at USD 3.9 billion in 2020 and is expected to generate USD 6.8 billion by 2030. The market is expected to witness a CAGR of 5.4% from 2021 to 2030.
According to a new report published by Allied Market Research titled “Global Lightning Protection Market by Type, Voltage, Application and Sales Channel: Country Opportunity Analysis and Industry Forecast, 2021-2030”
Get Sample Report with Industry Insights: www.alliedmarketresearch.com/request…mple/15363
Surge protectors are designed to protect electrical devices from voltage surges. These protectors limit the voltage supplied to an electrical device by blocking or shorting any unwanted voltage that exceeds a safe threshold to ground.
These devices are used in automation buses, power supply networks, telephone networks, and various communication systems. Common surge protectors stop sudden voltage spikes, but they do not prevent the violent, catastrophic current surges caused by a nearby lightning strike.
The direct lightning current is too large to be protected by a small electronic device inside the power strip.
The surge protection device market is witnessing a significant growth driven by the increasing demand for electronic devices and the growing awareness of the importance of protecting them from power fluctuations. With the proliferation of sensitive electronic equipment in both residential and commercial environments, the need for reliable surge protection solutions has become paramount.
Surge protectors, also known as surge suppressors or surge arresters, play a crucial role in preventing voltage spikes and temporary overvoltages from damaging connected devices. The market features a wide variety of products that cater to different applications, including home appliances, industrial machinery, and IT equipment.
As technological advances continue to bring more sophisticated and sensitive devices to the market, the surge protector industry is expected to experience sustained growth, with manufacturers focusing on innovation to meet the evolving needs of consumers.
Take advantage of customization: www.alliedmarketresearch.com/request…tion/15363
Increasing focus on energy efficiency and incorporation of advanced technologies in surge protectors are prominent trends. Smart surge protectors, equipped with features such as remote monitoring, real-time data analysis and automated response mechanisms, are gaining significant momentum in the market.
Moreover, the power protection industry is witnessing increased usage in emerging economies, where expanding IT infrastructure and increasing proliferation of electronic devices are driving demand.
The major factor driving the surge protector market includes the increasing demand for the use of electrical and electronic appliances in commercial and residential sectors. Moreover, the high costs arising due to breakdown of electrical equipment has also encouraged the adoption of whole house surge protector as it provides safety in industries and homes.
The major factors hampering the market growth are lack of awareness among small manufacturers and competition from uninterruptible and non-volatile power supply systems. On the contrary, growing awareness of the need for surge protectors, rapid industrialization and power supply issues in developing countries are expected to provide lucrative opportunities for the global market.
Inquire: www.alliedmarketresearch.com/purchas…uiry/15363
Competitive analysis
The key players in the lightning arrester market are adopting different strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. This includes details about the key players in their market strengths, product portfolio, market size, share analysis, operational results, and market position.
Some of the key players in the global surge protection market are:
Vertiv Holdings Ltd. Legrand Siemens AG Schneider Electric Inc. Vertiv Group Inc. General Electric Inc. Havells India Ltd. Honeywell Eaton Corporation Havells Johnson Controls Inc. ABB Ltd.
Main findings of the study
The global surge protector market size is provided in terms of revenue In 2020, the industrial segment accounted for around 49.3% 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% share of the surge protector market In 2020, the surge protector market. The online sales channel is the fastest growing segment in the global market and is 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 driving and restraining the growth of the global surge protector market 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 forecasts and estimates are based on the factors influencing the market growth
News from
Category: Industry Reports & Market Analysis About the Company: Allied Market Research is a global market research and business consulting firm of Allied Analytics LLP headquartered in Portland, Oregon. Allied Market Research provides global enterprises, medium-sized businesses, and small businesses with high-quality “market research reports” and “business intelligence solutions.” AMR’s goal is to provide business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their market areas. Our company focuses on providing business consulting and business analytics services.
This email address is being protected from spambots. You need JavaScript enabled to view it.
