Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 3 Billion | USD 6 Billion | 9.3% | 2022 |
FrequentlyAsked Questions
Surge Protection Devices (SPDs) are designed for protecting electrical devices from a rise in voltages. Furthermore, the equipment restricts the supply of voltage to the electric device through a halt or blockade of unwanted voltage crossing the safe threshold voltage limit. For the record, these devices find a slew of applications in telephone networks, automatic control buses, communication systems, and electric power supply networks.
The global surge protection devices (SPDs) market growth is owing to massive sales of electronic devices such as LED televisions, printers, microwaves, personal computers, and washing machines.
According to a study, the global surge protection devices (SPDs) industry size was $3000 million in 2022 and is projected to reach $6000 million by the end of 2030.
The global surge protection devices (SPDs) market is anticipated to record a CAGR of nearly 9.3% from 2023 to 2030.
The Asia-Pacific surge protection devices (SPDs) industry is set to register the highest CAGR over the forecasting timeline owing to an escalating preference for clean energy for fulfilling the energy requirements in countries such as India, Singapore, Japan, Malaysia, Taiwan, and China. The rise in the allocation of funds for improving the power infrastructure in the region will further drive the industry space in Asia-Pacific. The presence of key manufacturers in the region will contribute majorly to the regional market revenue in the upcoming years.
The global surge protection devices (SPDs) market is led by players such as ABB SE, Schneider Electric, General Electric Corporation, Legrand, Eaton Corporation, Siemens AG, Emerson Electric Co., Tripp Lite, Vertiv Group Corp., and cgglobal.com.
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