Surge Protection Devices Market Challenges, Business Strategies, Growth by Leading International Manufacturers with its Applications by Forecast to 2023

Market Overview:-
The market for surge protection devices is witnessing significant growth because of the rise in alternative energy implementations, increase in demand for protection of electronic devices, and the power quality issues faced. According to National Lightening Safety Institute, some 30% of all power outages annually are lightning-related, on average, with total costs approaching $1 billion dollars. For protecting the buildings and residents from the lightening destruction, the manufacturers are increasing the production for lightening surge protection devices. For instance, ABB’s surge protection devices are specially designed so that in case of any lightening transient surge conditions, the products offer primary protection against multiple lightning strikes even in heaviest surge.

Market Segmentations:-
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.

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Industry Top key Players:-
• Schneider Electric SE
• ABB Ltd.
• Mitsubishi Electric Corporation
• Alstom SA
• Siemens AG
• Toshiba
• Hyundai heavy industries
• Hitachi
• Fuji Electric
• Nissin Electric

Table Of Content:-
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective


3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers


4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
To be continued......

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Global Surge Protection Devices Market:-
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.

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