Surge Absorbers Market was valued at USD 3.5 Billion in 2022 and is projected to reach USD 5.8 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The Surge Absorbers Market experienced significant growth from 2018 to 2022, driven by increasing demand from various industries, including automotive, industrial machinery, and construction. Surge absorbers, essential for mitigating transient voltage spikes, have become integral to safeguarding sensitive electronic equipment and maintaining system reliability. This market growth during this period was fueled by technological advancements and rising awareness of the need for robust surge protection systems.
The demand from 2018 to 2022 was heavily influenced by increased infrastructure development and the automotive industry's growing reliance on electric vehicles (EVs) and advanced electronics. Surge absorbers are critical components in ensuring that power surges do not damage high-voltage systems or electronic circuits, making them essential in power distribution, telecommunications, and industrial operations. The surge absorbers market in this period was further supported by regulatory standards emphasizing the need for surge protection in power systems and electronic devices.
Looking ahead, the demand for surge absorbers is expected to continue its upward trajectory from 2023 to 2033. The continued expansion of the renewable energy sector, coupled with the growing demand for electric vehicles and smart infrastructure, will likely drive the surge absorbers market further. As industries move towards adopting cleaner energy solutions and digitizing operations, the need for reliable surge protection is set to intensify. Furthermore, the implementation of 5G technology and the increasing adoption of industrial IoT (Internet of Things) systems are expected to significantly boost the market.
Alongside these trends, the rise in the number of smart cities and the continuous growth of data centers will contribute to an increased need for surge protection in high-tech infrastructures. Surge absorbers will be critical in protecting sensitive electronic systems from power fluctuations, ensuring operational continuity. Manufacturers are anticipated to focus on producing more compact, efficient, and cost-effective surge protectors to cater to the increasing demand across diverse industries.
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Mitsubishi Materials
Hitachi Metals
Shindengen
Panasonic
Vasudha
JMV
Jameco Electronics
KOA
Okaya Electric America
Zhengmao Electronics
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Surge Absorbers Market
Power line
Communications systems
Electronic products
Based on Types the Market is categorized into Below types that held the largest Surge Absorbers market share In 2023.
Low-power
High-power
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Surge Absorbers Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Surge Absorbers Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Surge Absorbers Market, By Type
6. Global Surge Absorbers Market, By Application
7. Global Surge Absorbers Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Surge Absorbers Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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