Industrial Surge Protection Market size is estimated to reach $4.05 billion by 2027 at a CAGR of 4.49% during the forecast period 2022-2027. The term surge protection or transient voltage surge suppressor is used to describe electrical devices typically installed in power distribution panels, process control systems, communications systems, power strips, spike suppressor and other heavy-duty industrial systems, for the purpose of protecting against electrical surges and spikes caused by lightning. The market growth is attributed to the factor such as protection of electrical and electronics equipment from the surges instigated by starting motors or transformers, neon and sodium light starters, switching power networks, switch “bounce” in an inductive circuit, operation of fuses and circuit breakers, falling power lines, poor or intermittent contacts. Moreover, easier maintenance and reduced repairing cost ads up to its benefits owing to which the Industrial Surge Protection market flourishes. Further the eminent need to effectively protect sensitive consumer electronics from power fluctuations is expected to contribute to the growth of Industrial Surge Protection industry. Furthermore high demand for electronic appliances, an increase in the requirement to protect sensitive electronic gadgets from power fluctuations, ease of installation, and cheaper costs are driving the Industrial surge protection market share.
Industrial Surge Protection Market Segment Analysis – By SPD Type
In Industrial Surge Protection Market, Type 1 (Permanently connected, Hard-wired) is expected to grow at the highest CAGR of 5.6% during the forecast period. The market growth is attributed to its application to safeguard electrical infrastructure from direct lightning strikes in service-sector and industrial buildings. This also discharge the back-current from lighting from the earth conductor to the network conductors. Type 1 surge protection device features a current wave of 10/350 ?s. Furthermore, various applications of Type 1 surge protection device including loadcenters/electrical panels, residential service entrances, sump & irrigation pumps, control cabinets, individual equipment disconnects, single & three phase motors, outdoor lighting, garages, farm / irrigation control, and other electrical assemblies enhances the Industrial Surge Protection market growth.
Industrial Surge Protection Market Segment Analysis – By End-User Industry
The Automotive and Transportation sector in Industrial Surge Protections market is growing at the highest CAGR of 5.5% during the forecast period. Technological developments followed by implementation of electrification into the automobile industry and increasing acceptance of electric vehicles contribute to growing demand for surge safety products. Moreover high cost of replacement of electronics and circuitry provokes for the demand of surge protection devices which in turn enhances the market growth. In May 2019, two series of AEC-Q101-qualified TVS Diode Arrays the AQHV and AQHV-C was launched by Littelfuse. The product was developed to include very fast-acting, high-performance over-voltage safety systems best suitable for control interfaces, interfaces for passenger parking, and LED illumination packages, as well as low-speed I / Os. In January 2020, an investment of US $110 million was made by Hyundai Motor Company and Kia Motors Corporation in a partnership with Arrival limited. This investment was made for the development of electric commercial vehicles which tends to increase in demand for surge protection devices. Thus such investments, partnerships and product launches enhance the Industrial Surge Protection industry outlook growth.
For more information about Industrial Surge Protection Market @
https://www.industryarc.com/Report/18171/industrial-surge-protection-market.html#report2
Industrial Surge Protection Market Segment Analysis – By Geography
APAC dominated the Industrial Surge Protection market size in 2021 with a share of 33%. The market growth is attributed to the factors such as implementation of advanced technologies and rising electrification among different industries, presence of large number of electronics manufacturers in this region. Moreover rise in demand of surge protection owing to growth of automotive industry in this region boosts the market growth. For instance in February 2020, two LED drivers (NCV7683 and NCV7685) and two current controllers (NCV7691 and NCV7692) was launched by ON Semiconductor to expedite high echelons of performance and pioneering functionality. Moreover, easier maintenance and reduced repairing cost ads up to its benefits owing to which the market flourishes. Furthermore, In August 2019, the DTK-DR Series of DIN-rail surge protectors was launched by Ditek to offer point-of-use electrical surge protection for device control panels and analogous solicitations in commercial and industrial atmospheres. This device offers unique capabilities including automated ping test, surge protection, intuitive cloud management, automated power reporting and others. Such product launches enhances the market growth. However, APAC region is anticipated to observe the significant market growth during the forecast period 2022-2027. Furthermore rapid industrialization, urbanization, investments for modernizing infrastructure, rising consumer demands for technologically advanced and smart electronic devices and others in the forecast period 2022-2027.
Industrial Surge Protection Market Drivers
Increasing the product demand for protection devices and power fluctuations will be significantly driving the Industrial surge protector market
Rising use of electronic devices coupled with increasing demand for product and their derivatives demand for protection systems for electronic appliances are potential surge protector market drivers. Also, growing demand for stability of power supply has increased the importance of reliability and power quality of electric systems. Moreover, regular voltage fluctuations can cause gradually eroding of electrical appliances and lead to failure of electrical equipment, which is a major threat for electrical devices. This factor is projected to fuel demand for surge protectors to avoid from high financial losses due to failure of electrical equipment’s. Further growing need for Surge Protection is anticipated to increase owing to the rising concern about the safety of electronic and telecommunication equipment across the globe. Furthermore increasing investment in infrastructure development activities is also expected to help the market grow in North America. For instance, In March 2021, the U.S. Department of Agriculture (USDA) announced that it had invested about $598 million in 11 projects through the Electric Loan Program. In addition growth in end-user industries, such as automotive and agriculture, and the growing demand for electricity due to rapid urbanization is also anticipated to contribute to Industrial Surge Protection industry growth in the region during the forecast period 2022-2027.
Growing usage of electrical equipment and increased technological advancements in industrial surge protectors are analyzed to drive the market growth
Growing demand for electronics products lead to increase in demand for electrical protection system for the safeguard of the appliances which in turn enhance the market growth. Moreover, the use of electronic equipment is increasing in manufacturing industries, telecommunication networks, automotive, energy and power, transportation and others owing to which the need for power-quality protection equipment is gaining prominence. Further the launch of advanced industrial protectors is also analyzed to drive the Industrial Surge Protection industry in the forecast period. In 2020, ITW Linx has launched AHW 3 Phase AC Surge Protection Series. The AHW 3 Phase series models are Type 2 Hardwired surge protective devices, targeted to protect AC powered devices, as well as AC connected equipment and systems from the destructive force of surges. Similarly, in 2019, Littelfuse, Inc., has launched SPD2 series of Type 2 surge protection devices. These SPD2 series, utilized at power distribution or branch circuits, safeguards components from surges by limiting the fault current to a load or the unit being protected. Hence these kind of advancements are analyzed to drive the Industrial Surge Protection market size in the forecast period 2022-2027.
Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=18171
Industrial Surge Protection Market Challenges
Limited lifespan and high maintenance cost for Industrial Surge Protections is hampering the market growth
Surge protectors lifespan does not last long and it varies from model to model. Each time the devices are secured from spikes and pulses it receives dangerous voltages that. The more it happens results in deterioration of the equipment. These protectors come with joules ranking that is an indication of how long they live. Thus it poses a constraint to the market growth. High maintenance cost of the surge protection device has created a thread to the market growth as installation of the luminaire for better functioning of SPD is very crucial and needed, also the components used in SPDs such as gas discharge tube, cartridge, wiring, LED need proper time-to-time checking, and replacement; thus, adding to the maintenance cost of SPDs.
Industrial Surge Protection Market Landscape
Product launches, acquisitions, Partnerships, and R&D activities are key strategies adopted by players in the Industrial Surge Protection Market. In 2021, the market of Industrial Surge Protection industry outlook has been fragmented by several companies. Industrial Surge Protection top 10 companies include:
ABB
Schneider Electric
Phoenix Contact
GE Industrial
Emerson
Siemens
Eaton
Rockwell Automation
Leviton
Vertiv
Recent Developments
In June 2019, SPD2 series of Type 2 surge protection devices was launched by Littelfuse, Inc. This appliance deployment in power delivery or branch circuits prevents devices from spikes by reducing the fault current to a load or secured unit.
In November 2021, Transtector Systems, an Infinite Electronics brand and an industry-leading provider of end-to-end power and signal integrity solutions, released new AC surge protectors offer UL1449 Type 1 and Type 2 SPDs and are ideal for telecom base stations, industrial automation, emergency dispatch and hospital applications, providing reliability and value with versatile functionality in compact designs.
In August 2019, the DTK-DR Series of DIN-rail surge protectors was launched by Ditek to offer point-of-use electrical surge protection for device control panels and analogous solicitations in commercial and industrial atmospheres.
Key Takeaways
In Industrial Surge Protection Market, Type 1 (Permanently connected, Hard-wired) is expected to grow at the highest CAGR of 5.6% during the forecast period. The market growth is attributed to its application to safeguard electrical infrastructure from direct lightning strikes in service-sector and industrial buildings.
APAC dominated the Industrial Surge Protection market size in 2021 with a share of 33%. The market growth is attributed to the factors such as implementation of advanced technologies and rising electrification among different industries, presence of large number of electronics manufacturers in this region.
The Automotive and Transportation sector in Industrial Surge Protections market is growing at the highest CAGR of 5.5% during the forecast period. Technological developments followed by implementation of electrification into the automobile industry and increasing acceptance of electric vehicles contribute to growing demand for surge safety products.
Industrial Surge Protection companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.
Relevant report
Industrial Connectors Market
https://www.industryarc.com/Report/18191/industrial-connectors-market.html
For more Automation and Instrumentation Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/