Surge Protection Devices Market Worth $5.30 Billion By 2030
Surge Protection Devices Industry Overview The global surge protection devices market size was valued at USD 2.47 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.2% from 2022 to 2030. The growth is attributed to the growing demand for surge protection devices to protect the new, innovative electrical and electronic gadgets being installed in homes and offices. Other factors expected to drive the demand include the alternative energy programs being pursued aggressively all over the world and the rising operating costs stemming from power quality issues and the resultant frequent equipment failure. The ability of surge protection devices to cut electricity bills by reducing the power consumed by gadgets is also expected to play a vital role in driving the growth of the market over the forecast period. Gather more insights about the market drivers, restrains and growth of the Global Surge Protection Devices Market The continued amendments v...