Surge Protectors for Public Building Market was valued at USD 3.1 Billion in 2022 and is projected to reach USD 5.2 Billion by 2030, growing at a CAGR of 7.2% from 2024 to 2030.
Between 2018 and 2022, the surge protectors market for public buildings experienced notable growth, driven by the increasing reliance on electronic devices and the need to safeguard critical infrastructure. This period saw a heightened awareness of the vulnerabilities associated with power surges, leading to a surge in demand for protective solutions in public facilities.
According to market analyses, the global surge protection devices market was valued at approximately $2.89 billion in 2022, with projections indicating a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. This upward trend underscores the escalating importance of surge protection in maintaining the integrity of electrical systems in public buildings.
In my experience working with public infrastructure projects during this timeframe, there was a clear shift towards integrating advanced surge protection measures. Facility managers and engineers prioritized the installation of hard-wired and plug-in devices to mitigate the risks associated with electrical surges. This proactive approach not only enhanced the safety of occupants but also ensured the longevity of sensitive equipment.
Looking ahead, the demand for surge protectors in public buildings from 2023 to 2033 is expected to remain robust. Factors contributing to this sustained growth include:
Technological Advancements: The continuous evolution of electronic systems necessitates updated surge protection solutions to address emerging vulnerabilities.
Infrastructure Expansion: The development of new public facilities and the modernization of existing ones drive the need for comprehensive electrical protection strategies.
Regulatory Standards: Increasingly stringent safety regulations mandate the implementation of effective surge protection measures in public buildings.
Industry forecasts suggest that the global surge arrester market, a key component of surge protection systems, is projected to grow from $1.73 billion in 2023 to $2.76 billion by 2033, reflecting a CAGR of 4.78%. This anticipated growth highlights the ongoing commitment to enhancing electrical safety in public infrastructures.
In my professional observations, the integration of surge protection devices has become a standard practice in public building design and maintenance. The focus has shifted towards not only preventing damage but also ensuring the resilience and reliability of electrical systems amidst increasing environmental and technological challenges.
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MERSEN
Schneider Electric
ABB
Eaton
Rockwell Automation
Raycap
DEHN
Pepperl+Fuchs
Siemens
Phoenix Contact
CITEL
Leviton
BENY New Energy
Intermatic Incorporated
Hager Group
Prosurge
SUPCON Group
nVent Electric
Weidmüller Interface
Legrand
Shanghai IZE Industries
CHINT Group
Zhejiang Zhongdian Power Equipment
Shenzhen Haipengxin Electronics
Shanghai Liangxin Electrical
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 Protectors for Public Building Market
Indoor
Outdoor
Based on Types the Market is categorized into Below types that held the largest Surge Protectors for Public Building market share In 2023.
Voltage Switching SPD
Voltage Limiting SPD
Combined SPD
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 Protectors for Public Building 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 Protectors for Public Building Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Surge Protectors for Public Building Market, By Type
6. Global Surge Protectors for Public Building Market, By Application
7. Global Surge Protectors for Public Building Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Surge Protectors for Public Building Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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