Industrial Surge Protection Market worth $4.05 Billion by 2027 at a growth rate of 4.49%


IndustryARC

Market Research Reports, Business Consulting Services & Analytics

Increasing Product Demand for Protection Devices & Power Fluctuations will Significantly Driving Industrial Surge Protector Industrial Surge Protection Market

HYDERABAD, TELANGANA, INDIA, December 8, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Industrial Surge Protection Market size is estimated to reach $4.05 billion by 2027 at a CAGR of 4.49% during the forecast period 2022-2027. The term surge protection or transient voltage surge suppressor is used to describe electrical devices typically installed in power distribution panels, process control systems, communications systems, power strips, spike suppressor and other heavy-duty industrial systems, for the purpose of protecting against electrical surges and spikes caused by lightning. The market growth is attributed to the factor such as protection of electrical and electronics equipment from the surges instigated by starting motors or transformers, neon and sodium light starters, switching power networks, switch “bounce” in an inductive circuit, operation of fuses and circuit breakers, falling power lines, poor or intermittent contacts. Moreover, easier maintenance and reduced repairing cost ads up to its benefits owing to which the Industrial Surge Protection market flourishes. Further the eminent need to effectively protect sensitive consumer electronics from power fluctuations is expected to contribute to the growth of Industrial Surge Protection industry. Furthermore high demand for electronic appliances, an increase in the requirement to protect sensitive electronic gadgets from power fluctuations, ease of installation, and cheaper costs are driving the Industrial surge protection market share. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Report/18171/industrial-surge-protection-market.html

Key takeaways:

1. In Industrial Surge Protection Market, Type 1 (Permanently connected, Hard-wired) is expected to grow at the highest CAGR of 5.6% during the forecast period. The market growth is attributed to its application to safeguard electrical infrastructure from direct lightning strikes in service-sector and industrial buildings

2. APAC dominated the Industrial Surge Protection market size in 2021 with a share of 33%. The market growth is attributed to the factors such as implementation of advanced technologies and rising electrification among different industries, presence of large number of electronics manufacturers in this region.

3. The Automotive and Transportation sector in Industrial Surge Protections market is growing at the highest CAGR of 5.5% during the forecast period. Technological developments followed by implementation of electrification into the automobile industry and increasing acceptance of electric vehicles contribute to growing demand for surge safety products.

4. Industrial Surge Protection companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=18171

Segmental Analysis:

1. In Industrial Surge Protection Market, Type 1 (Permanently connected, Hard-wired) is expected to grow at the highest CAGR of 5.6% during the forecast period. The market growth is attributed to its application to safeguard electrical infrastructure from direct lightning strikes in service-sector and industrial buildings.

2. APAC dominated the Industrial Surge Protection market size in 2021 with a share of 33%. The market growth is attributed to the factors such as implementation of advanced technologies and rising electrification among different industries, presence of large number of electronics manufacturers in this region.

3. The Automotive and Transportation sector in Industrial Surge Protections market is growing at the highest CAGR of 5.5% during the forecast period. Technological developments followed by implementation of electrification into the automobile industry and increasing acceptance of electric vehicles contribute to growing demand for surge safety products.

4. In January 2020, an investment of US $110 million was made by Hyundai Motor Company and Kia Motors Corporation in a partnership with Arrival limited. This investment was made for the development of electric commercial vehicles which tends to increase in demand for surge protection devices.

Competitive Landscape:

The top 5 players in the Industrial Surge Protection industry are –

1. ABB

2. Schneider Electric

3. Phoenix Contact

4. GE Industrial

5. Emerson

Click on the following link to buy the Industrial Surge Protection Market Report:
https://www.industryarc.com/reports/request-quote?id=18171

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Surge Protection Device Market
https://www.industryarc.com/Report/15001/surge-protection-device-market.html

B. Protective Relay Market
https://www.industryarc.com/Report/15251/protective-relay-market.html

Contact Us:
Mr. Venkat Reddy
IndustryARC
Email: venkat@industryarc.com, sales@industryarc.com
USA: (+1) 970-236-3677, (+1) 815-656-4596
IND: (+91) 40-485-49062

Venkat Reddy
IndustryARC
+1 614-588-8538
venkat@industryarc.com
Visit us on social media:
Facebook
Twitter
LinkedIn

article





Source link

The content is by EIN Presswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy