The Asia Pacific Surge Protector Market would witness market growth of 5.9% CAGR during the forecast period (2021-2027).
Surge protectors are grouped into three categories based on their installation and protection capabilities: Service Entrance, Whole-Home, and Receptacle. Protective devices for service entrances have a longer lifespan and guard against power grid surges that might cause damage. These may be seen in many homes and apartment buildings. The wiring on such surge protectors is a little intricate, and it takes a lot of practise to connect or unhook from the main supply.
Whole-home protectors are constructed similarly to Type 1 protectors, except they may be installed by the user. The design and configuration of such devices allow them to safeguard a single circuit or several circuits throughout the home. This sort of surge protection may protect both lesser and bigger surge levels, depending on the model.
According to the China Electronic Information Industry Development (CCID), a government-backed think tank, the country would invest CNY10 trillion (US$1.4 trillion) on new infrastructure projects throughout 2020 and 2025. Investments in renewable energy and domestic construction projects will also contribute to the industry's growth. As a result, the growing real estate sector will raise the demand for surge protectors to ensure people's safety. As a result, the expansion of the regional market will be accelerated.
The China market dominated the Asia Pacific Surge Protector Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $391.3 million by 2027. The Japan market is experiencing a CAGR of 5.3% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 6.5% during (2021 - 2027).
Based on Type, the market is segmented into Type 1, Type 2, and Type 3. Based on Voltage, the market is segmented into High, Medium and Low. Based on Sales Channel, the market is segmented into Offline and Online. Based on Application, the market is segmented into Industrial, Commercial and Residential. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Surge Protector Market is Projected to reach USD 5 Billion by 2027, at a CAGR of 5.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Havells India Ltd., ABB Group, Honeywell International, Inc., Schneider Electric SE, Eaton Corporation PLC, Vertiv Holdings Co., General Electric (GE) Co., Siemens AG, Johnson Controls International PLC, and Legrand S.A.
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