Hospital-Grade Surge Protectors (Power Strips) - U.S. Market Size
The dominant companies in the surge protector industry are Phoenix Contact GmbH & Co. KG, Raycap GmbH, Crompton Greaves Limited, General Electric Company, Leviton Manufacturing Co., Tripp Lite, Schneider Electric SE, Pentair Technical Solutions, Emerson Electric Co. and Eaton Corporation PLC. Across the world, the size of the global surge protector market is expected to reach $3.39 billion by 2025. However, there is no information on the market size of hospital-grade surge protectors (power strips) in the US. Below is a methodology that we used in an attempt to find this information.
The first strategy was to check for precompiled reports on the market size for medical or hospital-grade surge protectors in the US. In this case, we checked for information in credible platforms such as PR News Wire, Market Researcher, Statista, Research and Markets, Allied Market Research and Grand View Research. These resources provided us with information in the global market size of the entire surge protector industry, the types of segments, leading companies in the sector and the CAGR of the sector until 2025. However, there is no information on the market size of hospital-grade surge protectors in the US, and the only resource that seemed to have details on the surge protectors use by segment was locked behind a paywall.
The second strategy was to check for information from medical and technology sources. Some of these include Healthcare Business Tech, Kaiser Health News and US News. These resources provided details on trends in the sector, technological advances in the industry and new releases. However, there was no data on the market size of surge protectors in the US.
We then shifted our search to focus on the North America region whereby we wanted to identify the total market size of surge protectors and then triangulate the percentage that can be allocated to medical surge protectors. However, we could only get the total market size of surge protectors in the US, with no specific focus on medical usage. The only information on the various types of usage is a graph which indicates that medical usage is lower than other uses, including commercial and industrial use.
Our final strategy was to identify the main companies in the sector from various reports such as Research and Markets, Allied Market Research and Grand View Research. We then looked through the annual reports of these companies to find the revenue generated in the US. However, most of the companies are private companies, and therefore their annual reports were not readily available. In the case of some companies, such as Leviton, Siemens and Tripp Lite, the only financial information presented was the total revenue without any differentiation of the sales by region. As such, this strategy was also not useful in providing us with the required information.
market size of surge protectors for medical use
A report by Grand View Research states that the global surge protector market size will grow to $3.39 billion in 2025. Please note that the full version of the "Surge Protection Devices (SPD) Market Analysis By Product Type" report is available for purchase at the following pricing: Single User ($4,950), Multi User/2-5 users ($5,950), and Enterprise Access ($7,950).
The industry is divided into various segments that include residential, telecom, medical, data center, industrial, commercial, end users and transportation. The largest segment is industrial use, with a market size of $657.2 million in 2016. On the other hand, the medical use of surge protectors was low compared to commercial and industrial usage. However, the healthcare segment is expected to grow in the future.
North America represents 39.5% of the total market size of the industry, with a CAGR of 5.8% between 2017 and 2025. The North America region refers to Canada and the US, which had a market size of $778.3 million in 2016. Some of the states that are the biggest consumers in the North Region include Louisiana, Mississippi, Florida and Alabama.
The dominant companies in the surge protector market are Phoenix Contact GmbH & Co. KG, Raycap GmbH, Crompton Greaves Limited, General Electric Company, Leviton Manufacturing Co., Tripp Lite, Schneider Electric SE, Pentair Technical Solutions, Emerson Electric Co. and Eaton Corporation PLC.
A report by Allied Market Research states that the global size of the surge protector market is expected to reach $2,127 million in 2015. The market has a CAGR of 5.7% between 2016 and 2022 and is expected to reach $3,167 million in 2022.
Similarly, the report states that the leading companies in the sector include Schneider Electric SE, Phoenix Contact GmbH & Co. KG, Leviton Manufacturing Co., Tripp Lite, Pentair Technical Solutions, General Electric Company, Emerson Electric Co., Crompton Greaves Limited, Raycap GmbH, and Eaton Corporation PLC.
According to Research and Markets, the market size of the surge protector market in 2017 was $2.06 billion. Based on the report, some of the leading companies in the sector includes ABB, Ltd., Advanced Protection Technologies, Citel, Littelfuse, Belkin International, Hubbell Incorporated, Legrand Sa, Eaton Corporation, Emerson Electric Co., General Electric Company, REV Ritter GmbH, ISG Global, Koninklijke Philips N.V., Raycap Corporation, Leviton Manufacturing Company, Mersen Electrical Power, MCG Surge Protection, MVC-Maxivolt, Panamax, Pentair Electrical & Fastening Solutions, Phoenix Contact GmbH, Schneider Electric Se, Tripp Lite and Siemens AG.