The Latin America, Middle East and Africa Surge Protector Market would witness market growth of 7.3% CAGR during the forecast period (2021-2027).
Surge Protector has a number of advantages, including the ability to protect circuits from transient voltage levels, which is the most important feature of this device. Controls voltage ranges and protects electric equipment from harm. Circuit boards are mounted within the gadget, and this is where the enormous power absorption occurs. Installation is simple, price is reasonable, and maintenance, repair, and other expenditures are modest.
Solar and wind power services, Cellular networks and towers, railway systems and dams, telephone applications, hydroelectric power plants, TV reception systems, and speakers are all examples of Surge Protector's uses.
Due to the COVID-19 epidemic and low global oil demand, the UAE's construction sector is expected to contract by 4.8 percent in real terms in 2020. The publisher continues to believe that the construction industry would revive in 2021, with 3.1 percent growth. Between 2022 and 2025, the sector is predicted to grow at an annual average of 3.8 percent. The ratification of a new Dubai Building Code in October 2020 is a significant step forward; the new code defines a revised set of construction norms and standards, with the goal of reducing construction costs by simplifying building restrictions.
The Brazil market dominated the LAMEA Surge Protector Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $91.1 million by 2027. The Argentina market would experience a CAGR of 7.9% during (2021 - 2027). Additionally, The UAE market is poised to grow a CAGR of 7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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