Surge protector provide best protection from both externally and internally generated surges when located as close to the building distribution system as possible. For cost and space reasons, many buildings only include one surge protection device (SPD) located at the main incoming panel and do not cascade SPDs throughout the building.
MARKET DYNAMICS
Surge protectors are economical and easy to install in most panels throughout a building are driving the growth of the surge protector market. However, the lack of awareness among small scale manufactures and competition from uninterrupted and non-fluctuating power supply systems and no guaranteed protection may restrain the growth of the surge protector market. Furthermore, the protection system for high technological equipment adopted in emerging economies is anticipated to create a market opportunity for the surge protector market during the forecast period.
MARKET SCOPE
The "Global Surge Protector Market Analysis To 2028" is a specialized and in-depth study of the energy and power industry with a special focus on the global market trend analysis. The surge protector market report aims to provide an overview of the surge protector market with detailed market segmentation by type, voltage, application, and geography. The global surge protector market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading surge protector market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global surge protector market is segmented on the basis of type, voltage, and application. Based on type, the surge protector market is segmented into hard-wired, plug-in, and line cord. On the basis of voltage, the surge protector market is segmented into high, medium, and low. Based on application, the surge protector market is segmented into industrial, commercial, and residential.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global surge protector market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The surge protector market by each region is later sub-segmented by respective countries and segments. The surge protector market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the surge protector market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the surge protector market in these regions.
IMPACT OF COVID-19 ON SURGE PROTECTOR MARKET
The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic had a negative impact on the surge protector market. The COVID-19 unfavorable global effects are already evident and have impacted the demand for surge protectors in 2020. The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and has resulted in massive deaths all across the world. exports & imports, global manufacturing, tourism, and financial sectors have all been heavily damaged. The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already declined development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
MARKET PLAYERS
The reports cover key developments in the surge protector market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from surge protector market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the surge protector market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the surge protector market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB Ltd.
- Eaton Corporation PLC
- Emerson Electric Co.
- General Electric Company
- Havells India Limited
- Honeywell International Inc.
- Johnson Controls
- LEGRAND
- Schneider Electric SE
- Siemens AG