A surge protection device is one of the
primary components of electrical installation protection systems used in the
electrical power supply networks, communication and telephone networks. They are primarily the most efficient type of
overvoltage protection. The surge protector limits the voltage supply to an
electric device by blocking or shorting the excess voltage. The advantages of
surge protection devices include the protection of low voltage distribution
systems against direct lightning stroke into the overhead power supply line or
external lightning protection system, the hot ionized gases is not an issue
with surge protection devices.
Key
Players
The key players of surge protection
devices market are Schneider Electric SE (France), ABB Ltd. (Switzerland),
Mitsubishi Electric Corporation (Japan), Alstom SA (France), Siemens AG
(Germany), and Toshiba (Japan). Larsen & Turbo (India), Hyundai heavy
industries (South Korea), Hitachi (Japan), Fuji Electric (Japan), Nissin
Electric (Japan), Xian XD (China), Hyosung (China), Bharat Heavy Electric Ltd.
(India), Eaton (Ireland), and Meidensha (Japan) are among others.
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Global surge protection devices market is
expected to witness exponential growth during the forecast period given the
increasing awareness to secure the electrical equipment and machinery used in
the industrial and residential sectors. North America and Europe region are
expected to hold the largest market share. With increased urbanization projects
such as smart cities, Europe and North America are expected to dominate the
market. Also, the plan to digitally transform the automobile, industrial and IT
manufacturing industries, is driving the market. A similar trend is witnessed
in the Asia Pacific regions where there is an increase in infrastructure
projects and manufacturing, especially in countries such as China and
India. The region is expected to witness
an increased growth rate during the forecast period.
Global
Surge protection devices market Segments Analysis:
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.
Industrial segment is expected to grow at higher rate during the forecast
period. Industries are coming up with new technologically advanced equipment
that are fine and expensive. To protect such devices the industries, require a
variety of surge protection devices. 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. The hard-wired protection devices are capable of
getting installed in the buildings to protect the devices from the lightning
strikes and prevent the damage to power control and distribution boards.
On the basis of voltage, the market is
classified as high voltage and low voltage. The surge protection devices are
getting attention from high voltage segment as industries operate on high
voltage equipment and machinery that are expensive, which are essential to protect
against transient surge and lightning strikes, with surge protection devices.
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