Market
Highlights
Globally, there is a rise in the number of
infrastructure projects. Especially, in North America and Europe, there is an
increased number of urbanization projects underway where protection of
electronic applications is of top priority. This is mainly due to the increased
contribution of alternative energy systems to dwellings and the digitization
projects of the automobile and industrial manufacturing processes. In the Asia
Pacific region, there is need for surge protection devices since there is the
issue of power quality and sudden high voltage, which can damage the electronic
equipment.
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Market
Research Analysis
North America is expected to dominate the
surge protection devices market. This is mainly due to the fact that
urbanization projects are rising in the region. Similarly, in the Europe
region, digitization of manufacturing process, especially in the automobile and
industrial sector is driving the market. For achieving higher production
efficiency, intelligent ICT based machine systems that are capable of
performing independently, are being implemented. This is acting as a lucrative
market for surge protection devices. The Asia Pacific region is expected to
achieve the highest CAGR during the forecast period.
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Key
Players
The key players of global surge protection
devices market are Siemens AG (Germany), Eaton Corporation Plc. (Ireland),
Littelfuse, Inc. (U.S.), ABB, Ltd. (Switzerland) , Schneider Electric SE
(France), General Electric (U.S.), Vertiv.(U.S), and HAKEL spol. s r. o (Czech
Republic).
Industry
Segmentation
Surge protection devices market is
segmented based on application, type, voltage and region.
Based on application the market is further
segmented in to residential, commercial, and industrial.
On the basis of type the surge protection
devices are further segmented as plug-in protection devices, hard wired, line
cord, and power control devices. Amongst these segments, hard wired are
dominating the market share.
On the basis of voltage, the market is
classified as high voltage and low voltage.
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