United States Surge Protector Market to be dominated by Industrial End-user till 2027
The rise in the adoption of
smart gadgets and growing issues about power quality are expected to drive the
demand for the United States surge protector market over the forecast period,
2023-2027.
According to TechSci Research
report, “United States Surge Protector Market By Type (Hard-Wired, Plug-In, and Line Cord), By Discharge Current
(Below 10 kA, 10 kA–25 kA, and above 25 kA), By Component (Suppressor, Gas
Discharge Tube, Surge Arrestor, and Others), By End-User (Industrial,
Commercial, and Residential), By Region, Competition Forecast &
Opportunities, 2027”, the United States surge
protector market is expected to witness robust CAGR over the forecast period,
2023-2027. The United States is an early adopter of advanced technologies and
is home to many of the global surge protection devices market players.
Electricity consumption for residential and commercial applications accounts
for a substantial share of the total electricity consumption. Mississippi,
Alabama, Florida, and Louisiana are some of the states in the United States
which are prone to lightning strikes. There is high demand for surge protector
among consumers to protect electronic appliances from sudden power
fluctuations. The surge protector is a kind of electrical device that protects
against the damages caused due to sudden power surges and voltage spikes by
blocking voltage over a safe threshold. Without the surge protector, any device
that passes the safe threshold voltage can cause permanent damage, reduce the
lifespan of internal devices and lead to burned wires and data loss. The
factors contributing to the United States surge protector market growth are
huge financial losses due to frequent power failures and supportive government
policies emphasizing the installation of surge protectors in industrial,
commercial, and residential places.
However, cost limitations in
installing surge protection devices and inappropriate testing and safety issues
may restrain the market growth in the forecast period.
Browse over XX market
data Figures spread through 70 Pages and an in-depth TOC on "United
States Surge Protector Market"
The United States surge
protector market is segmented into type, discharge current, component, end-user, regional distribution, and
company.
Based on type,
the market is divided into hard-wired, plug-in, and line cord. The plug-in type
holds the largest market share and is expected to maintain its dominance
throughout the forecast period. Surge protection devices are designed to be
installed at the service entrance of facilities or near to sensitive equipment
without a lightning protection system. Plug-in surge protector devices are
suitable to install at the origin of the network, by terminal equipment, and in
intermediate panels.
Based on
discharge current, the market is divided into below 10 kA, 10 kA–25 kA, and
above 25 kA. 10 kA–25 kA segment is expected to account for significant market
share over the forecast period. The rise in demand for surge protectors
supporting discharge current of 10 kA–25 kA to protect electrical devices such
as televisions and computers and the high sales of electrical devices drives
the segment demand.
Based on
end-user, the market is divided into industrial, commercial, and residential.
The industrial segment is projected to capture the largest market share for the
forecast period. Digital transformation of industrial processes and
implementation of industry 4.0 to facilitate remote diagnostics, data capture,
and maintenance services are the major factors boosting the United States surge
protector market growth. With the need to construct data centers, communication
systems, and servers to process and analyze large data volumes and with the
growing use of electronic systems, the United States surge protector market is
expected to grow at a significant rate in the forecast period.
Major market
platers operating in the United States surge protector market are:
·
Abb
Ltd
·
Belkin
International
·
Eaton
Corporation Plc
·
Emerson
Electric Co
·
General
Electric Company
·
Hubbell
Incorporated
·
Littelfuse,
Inc
·
Mersen
·
Schneider
Electric SE
·
Siemens
AG
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“With the growing population,
improved living standards, and the strong economic growth of the country, the
demand for electronic devices is on the rise. Rapid industrialization and
urbanization are increasing the consumption and consumer spending on electronic
devices. Market players are innovating electronic devices by improving their
functionality and performance and integrating a large number of microprocessors
to support their functions. The growing consumer awareness about the advantages
of the surge protector and rapid adoption of advanced and smart technologies
are expected to propel the United States surge protector market growth till
2027” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“United States Surge
Protector Market By Type (Hard-Wired, Plug-In, and Line Cord), By Discharge
Current (Below 10 kA, 10 kA–25 kA, and above 25 kA), By Component (Suppressor,
Gas Discharge Tube, Surge Arrestor, and Others), By End-User (Industrial,
Commercial, and Residential), By Region, Competition Forecast &
Opportunities, 2027”, has evaluated the future
growth potential of United States surge protector market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in United States surge protector market.
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