Surge
Protection Devices Market Highlights
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.
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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.
Segmentation
The report has been analyzed based on types,
applications, voltage types and regions. The commercial application
segment is expected to witness a steady
growth because of the growing alternative energy system implementation around
the world. The increase in the investment on digitally transforming the
electrical, auto and manufacturing industries for achieving high production
efficiency, is driving the market for surge protection devices. Also urbanized
infrastructure programs demanding protection of dwellings from voltage surge
due to lightning strikes, is further expected to drive the market for surge protection
devices.
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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.
Scope
of the Report
This study provides an overview of the Global surge
protection devices market, tracking three market segments across four
geographic regions. The report studies key players, providing a five-year
annual trend analysis that highlights market size, volume and share for North
America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report
also provides a forecast, focusing on the market opportunities for the next
five years for each region. The scope of the study segments the Global surge
protection devices market by its type, by voltage type, application, by
regions.
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).
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