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Industrial Surge Protection Devices Market Size
- Report ID: GMI11188
- Published Date: Sep 2024
- Report Format: PDF
Industrial Surge Protection Devices Market Size
Industrial Surge Protection Devices Market was valued at USD 864.7 million in 2023 and is likely to register about 6.3% CAGR from 2024 to 2032. The growing dependence on electronic equipment combined with the increasing frequency of power surges owing to grid instability and weather-related disruptions will drive the industry growth.
Industrial surge protection devices are critical components designed to safeguard electrical equipment from transient voltage spikes caused by lightning strikes, power surges and switching operations. These devices work by diverting excessive voltage away from sensitive equipment, thereby preventing damage, downtime and potential safety hazards. In industrial settings, where the integrity of electrical systems is paramount, it is essential for protecting valuable assets like motors, transformers and control systems.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Industrial Surge Protection Devices Market Size in 2023: | USD 864.7 Million |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 6.3% |
| 2024 – 2032 Value Projection: | USD 1.48 Billion |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 45 |
| Segments covered: | Power Rating, Product, Technology & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Industrial Surge Protection Devices Market Scope
