Elettronica
Surge Protector Market to Reach $6.8 Bn, Globally, by 2030 at 5.4% CAGR: Allied Market Research
Growth in demand for protection systems for electronic devices drives the growth of the global surge protector market. However, surge protectors only provide protection from voltage spikes and surges. This, in turn, hinders the market growth. On the other hand, high technological equipment adopted in the developing countries presents new opportunities in the coming years.
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Based on type, the Type 1 segment held the highest market share in 2020, accounting for more than two-fifths of the global surge protector market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 5.5% from 2021 to 2030, owing to wide use of the product in residential and industrial sectors. Other segments analyzed in the report are Type 2 and Type 3.
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Based on voltage, the high segment accounted for the largest share in 2020, contributing to more than two-fifths of the global surge protector market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 5.7% from 2021 to 2030, owing to their application in heavy industry operations. Other segments discussed in the report are medium and low.
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than one-third of the global surge protector market. Moreover, the same region is expected to witness of 5.6% during the forecast period, owing to rise in demand for electronics items. Other regions discussed in the report include Asia-Pacific , Europe , and LAMEA.
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