Global Surge Absorbers Market was valued at USD 0.6 Billion in 2022 and is projected to reach USD 1.0 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
The surge absorbers market is witnessing significant growth due to increasing demand for electrical equipment protection across various industries. Surge absorbers are essential components designed to protect sensitive electrical and electronic devices from voltage spikes, commonly caused by lightning strikes, power surges, or sudden changes in electrical supply. These devices are primarily used in power distribution networks, industrial settings, and residential applications to ensure safety and prevent costly equipment damage. In recent years, there has been a rise in awareness about the importance of surge protection, especially with the rapid growth of smart grids, renewable energy systems, and the increasing reliance on electronic devices in everyday life.
In the surge absorbers market, key players are focusing on innovative product development and technological advancements to cater to the evolving needs of consumers. Companies are now manufacturing advanced surge protectors that offer higher levels of protection and efficiency. These advancements include the integration of smarter systems that provide real-time monitoring and diagnostic capabilities, allowing for better performance and faster response to electrical faults. The growing adoption of renewable energy systems, particularly solar and wind power, has further spurred demand for surge absorbers, as these systems are particularly vulnerable to electrical surges.
The market is also witnessing a rise in the adoption of surge protectors in critical infrastructure, such as data centers and telecommunication networks. As these sectors continue to expand and digitalize, the need for surge absorbers becomes even more critical to maintain the smooth functioning of these systems. Surge absorbers are expected to play a key role in mitigating risks associated with electrical surges and improving the resilience of modern electrical systems.
In terms of geographic growth, the surge absorbers market is seeing significant opportunities in emerging economies where industrialization and urbanization are on the rise. As these regions invest more in power infrastructure, the demand for reliable surge protection is expected to increase, creating new market opportunities for manufacturers.
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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, Global, 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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