Photovoltaic Surge Protection
Device Market
Photovoltaic Surge Protection Device Market Scope:
Industry Analysis, Market Size, Growth, Trends Till 2031
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Photovoltaic Surge Protection Device Market Size and Growth
The photovoltaic surge protection device market is expanding due to rising solar energy adoption and increased need for protection against electrical surges. The market size is projected to reach approximately $500 million by 2028, with a CAGR of around 9% from 2023. Key drivers include technological advancements and regulatory support for renewable energy.
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Companies Covered
(Covid 19 Impact Covered)
◍ ABB
◍ Littelfuse
◍ Mersen
◍ DEHN
◍ Phoenix Contact
◍ LSP International
◍ Raycap
◍ Prosurge
◍ HAKEL
◍ Novaris Pty Ltd
◍ Havells
◍ Erico
◍ Zhejiang Geya Electrical
The Photovoltaic Surge Protection Device market features key players like ABB, Littelfuse, and Mersen, focusing on innovative solutions to enhance system reliability. Companies like DEHN and Phoenix Contact drive market growth through product advancements and strategic partnerships, leading to increased sales and improved customer confidence in solar installations.
- ABB: Approx. $40 billion revenue
- Littelfuse: Approx. $1.5 billion revenue
- Mersen: Approx. $1 billion revenue
- DEHN: Approx. €300 million revenue
- Havells: Approx. $1.3 billion revenue
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Market Segmentation
By Application
Residential
Business
Industrial
By Product
◍ Type 1 (Cope Direct Strike) ◍ Type 2 (Limits Over Voltages) ◍ Type 1+2 (Complete Protection)
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Market Growth
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$ X Billion USD
