What is Global Surge Protection Devices (SPDs) Market?
The Global Surge Protection Devices (SPDs) Market is a vast and dynamic sector that encompasses a wide range of devices designed to protect electrical equipment from voltage spikes. These devices, also known as surge suppressors, are used in various industries and sectors to safeguard sensitive equipment from damage caused by sudden voltage increases that can occur due to lightning strikes, power outages, or other electrical disturbances. The market for these devices is driven by the increasing reliance on electronic devices in various sectors, including communication, construction, electric power, transportation, oil and gas, among others. The need to protect these devices from potential damage and ensure their longevity and reliability is a key factor propelling the growth of the SPDs market. However, the market is also influenced by various other factors, including technological advancements, regulatory policies, and the overall economic environment. As such, the market's performance can vary significantly across different regions and countries.
Power Type SPD, Signal Type SPD, Others in the Global Surge Protection Devices (SPDs) Market:
The Global Surge Protection Devices (SPDs) Market is segmented into various types, including Power Type SPD, Signal Type SPD, and others. Power Type SPDs are primarily used to protect electrical power systems from voltage surges, while Signal Type SPDs are used to protect data and signal lines. Each type of SPD has its unique features and applications, and their demand can vary depending on the specific needs of the end-users. For instance, Power Type SPDs are commonly used in industries with heavy electrical usage, such as manufacturing and construction, while Signal Type SPDs are more prevalent in sectors that rely heavily on data and communication systems, such as IT and telecommunications. Other types of SPDs include those designed for specific applications or industries, and their market performance can be influenced by various factors, including technological advancements, regulatory policies, and market trends.
Communication, Construction, Electric Power, Transportation, Oil and Gas, Others in the Global Surge Protection Devices (SPDs) Market:
The Global Surge Protection Devices (SPDs) Market finds usage in various areas, including communication, construction, electric power, transportation, oil and gas, among others. In the communication sector, SPDs are used to protect communication equipment and systems from voltage surges that can disrupt communication services and damage equipment. In the construction sector, SPDs are used to safeguard electrical systems and equipment used in construction projects. In the electric power sector, SPDs are used to protect power generation, transmission, and distribution equipment from voltage surges. In the transportation sector, SPDs are used to protect transportation infrastructure and vehicles from electrical disturbances. In the oil and gas sector, SPDs are used to safeguard oil and gas extraction and processing equipment from electrical disturbances. The usage of SPDs in these areas is driven by the need to protect sensitive equipment and systems from potential damage and ensure their longevity and reliability.
Global Surge Protection Devices (SPDs) Market Outlook:
The global Surge Protection Devices (SPDs) market has shown significant growth over the years. In 2022, the market was valued at US$ 2311.9 million and is expected to reach US$ 2605.1 million by 2029. This indicates a Compound Annual Growth Rate (CAGR) of 1.5% during the forecast period from 2023 to 2029. The market is dominated by the top five players who hold a share of about 27%. In terms of production, Europe leads the way with a share of about 29%, followed by China and North America, with shares of 27% and 23% respectively. However, when it comes to the market, Asia Pacific is the largest, holding a share of about 58%. Europe and North America follow with shares of 21% and 14% respectively. These figures highlight the global nature of the SPDs market and the significant role it plays in various industries and sectors.
| Report Metric | Details |
| Report Name | Surge Protection Devices (SPDs) Market |
| Accounted market size in 2023 | US$ 2376.8 million |
| Forecasted market size in 2029 | US$ 2605.1 million |
| CAGR | 1.5 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Phoenix, ABB, Emerson, DEHN SE, Eaton, Siemens, ZG, Citel, Obo Bettermann, Schneider, Weidmüller, Littelfuse, Mersen Electrical, NVent, Philips, LEIAN, HPXIN, MVC-Maxivolt, ASP, Legrand, JMV, Rainbowally, SETsafe, cpower, MCG Surge Protection, Leviton, KEANDA |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
