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Asia Pacific Surge Protection Device Market Size
- Report ID: GMI10858
- Published Date: Aug 2024
- Report Format: PDF
Asia Pacific Surge Protection Device Market Size
Asia Pacific Surge Protection Device Market was valued at USD 1.24 billion in 2023 and is estimated to grow at a CAGR of over 6.3% between 2024 and 2032. The rising frequency of power surges, lightning strikes, power grid fluctuations, and electrical faults along with increasing demand to protect sensitive electrical and electronic equipment will foster the industry growth. The rising use of electronic devices across homes, businesses, and industries coupled with ongoing investment in renewable energy projects including wind and solar will augment the business scenario.
A surge protection device is a device designed to protect electrical equipment from voltage spikes and power surges. Rapid urbanization growth and expansion of industrial facilities in line with growing requirement of safety & reliability of power supplies will stimulate the industry outlook. Continuous advancement in these technologies comprising of higher energy handling capacity, improved response times, and enhanced durability in association with increasing complexity of modern electrical systems will energize the demand of surge protection devices.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Asia Pacific Surge Protection Device Market Size in 2023: | USD 1.24 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 6.3% |
| 2032 Value Projection: | USD 2.14 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 110 |
| Tables, Charts & Figures: | 8 |
| Segments covered: | Product, Technology, Power Rating, Application & Country |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Asia Pacific Surge Protection Device Market Scope
