Rockville , March 12, 2024 (GLOBE NEWSWIRE) -- The voltage sag protector market is estimated to be US$ 865.2 million in 2024. The demand for voltage sag protectors is increasing promisingly and is forecasted to flourish at a CAGR of 6.1% between 2024 and 2034. The market is projected to surpass a value of US$ 1,564.1 million by 2034.
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Power systems become more unstable and variable when renewable energy sources like wind and solar power are included. The overall dependability of the power supply can be impacted by voltage sags that arise from this. Voltage sag protectors are crucial to ensure the seamless integration of renewable energy and support the sustainability goals driving this transition. These protective devices play a vital role in mitigating challenges associated with voltage sags, contributing to the reliability and stability of power systems. This, in turn, fosters significant growth in the voltage sag protector market.
Maintaining good power quality is becoming more important to manufacturers as a way to improve the productivity and dependability of their manufacturing operations. Overlooked voltage sags can lead to equipment breakdowns and manufacturing blunders. The demand for voltage sag protectors is driven by their ability to increase power quality and correlate with the industry's focus on efficient production processes.
Regional Outlook
North America is expected to see a promising increase in revenue for voltage sag protectors from 2024 to 2034. Companies all around North America are spending money on sophisticated voltage sag protectors to protect their expensive electronic equipment against voltage swings that can lead to damage. This tendency is especially noticeable in industries like manufacturing, healthcare, and IT, where continuous power supply is essential to business operations.
In the next ten years, the East Asia voltage sag protector market is expected to grow steadily, showing a modest CAGR of 7.1%. The market expansion has been stimulated by government programs targeted at enhancing energy infrastructure and increasing awareness of the significance of power quality. Leading companies in this region are putting a lot of effort into research and development to bring cutting-edge solutions that specifically suit the demands of the East Asian industry.
| Report Attribute | Details |
| Value Projection (2034) | US$ 1,564.1 million |
| Growth Rate (2024-2034) | 6.1% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 240 Figures |
Key Takeaways from the Market Study
- The voltage sag protector market is projected to expand at a CAGR of 6.1% through 2034.
- The North America voltage sag protector industry is expected to develop at a promising CAGR of 6.3% through 2034.
- The voltage sag protector industry in the United States is estimated to be valued at US$ 159.9 million in 2024. The market is likely to surge at a CAGR of 6.3% through 2034.
- The voltage sag protector industry in China is expected to rise at a CAGR of 7.4%, reaching a valuation of US$ 302.0 million by 2034.
- Based on type, single-phase voltage sag protectors are likely to hold a 57.1% market share in 2024.
- The industrial segment is set to dominate the end-use industry category with a 27.8% share in 2024.
“In the current landscape, China outpaces the United States in the voltage sag protector market's growth. However, our market analysis suggests a reversal by 2034, with the United States poised to catch up. Increased technological innovation, robust infrastructure investments, and evolving regulatory frameworks are likely to create a favorable environment for market expansion.” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Rockwell Automation Inc.
- ABB
- Schneider Electric
- Shizuki
- Eaton Corporation Plc.
- General Electric Company
- LS Electric Co Ltd.
- Sinexcel
Competitive Landscape
Established companies in the competitive voltage sag protector industry concentrate on developing technology, putting smart grid solutions into practice, and building strategic alliances. These efforts contribute to their overall competitiveness and innovation within the market. Startups carve out a space for themselves by emphasizing low-cost innovations, staying flexible in responding to market demands, and encouraging a customer-centric mindset. Recognizing the importance of research and development, both business areas want to build strong and scalable solutions to deal with changing power quality issues. This approach aims to secure a competitive advantage in this crucially important sector.
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Recent Developments
Rockwell Automation Inc. specialises in cutting-edge sensor technology that ensure precise and quick responses to voltage fluctuations. ABB emphasises smart grid integration, which leverages digital technology to provide seamless protection. Schneider Electric positions itself with a comprehensive strategy that includes IoT for real-time monitoring and control. Shizuki specialises in tiny design and high efficiency for cost-conscious industries.
Eaton Corporation Plc prioritises grid resilience using adaptive protection methods. The General Electric Company increases proactive voltage sag avoidance by investing in predictive analytics. LS Electric Co Ltd. specialises in providing scalable modular solutions. Sinexcel emphasises rapid deployment and user-friendly interfaces to encourage widespread adoption.
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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