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. 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.
Research Analysis
North
America is expected to dominate the surge
protection devices market analysis. 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.
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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