Growth in demand for protection systems for electronic devices drives the growth of the Japan Surge Protector market. Based on type, the type 1 segment held the largest market share in 2020, holding more than two-fifths of the total market share. Based on sales channel, offline segment contributed to the highest share in terms of revenue in 2020.
Portland, OR, Jan. 18, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Japan Surge Protector market generated $410.4 million in 2020, and is projected to reach $575.8 million by 2030, witnessing a CAGR of 3.3% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Growth in demand for protection systems for electronic devices drives the growth of the Japan Surge Protector market. However, surge protectors only provide protection from voltage spikes, which in turn, restrains the market to some extent. On the other hand, high technological equipment adopted in the country present new opportunities in the upcoming years.
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The outbreak of the COVID-19 pandemic has had a negative impact on the Japan Surge Protector market.
The implementation of lockdown throughout the country declined the demand for surge protectors.
The report offers detailed segmentation of the Japan Surge Protector market based on type, voltage, application, and sales channel.
Based on type, the type 1 segment held the largest market share in 2020, holding more than two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the type 3 segment is projected to register the highest CAGR of 3.6% from 2021 to 2030.
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Based on application, the industrial segment held the highest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 3.5% from 2021 to 2030. The report also discusses segments such as residential and commercial.
Based on sales channel, offline segment contributed to the highest share in terms of revenue in 2020, holding nearly two-thirds of the Japan Surge Protector market, and is estimated to continue its dominant share by 2030. However, online segment is projected to manifest the fastest CAGR of 3.5% during the forecast period.
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Leading players of the Japan Surge Protector market analyzed in the research include ABB Ltd., Eaton Corporation, General Electric, Schneider Electric, Honeywell, Siemens AG, Johnson Controls, Legrand, Havells, and Vertiv Group Corp.
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