Press release
Surge Protection Devices Market Growing at CAGR of 5.7% and Expected to reach $3,167 million by 2022
Surge Protection Devices
Surge protection devices market holds a substantial scope for growth owing to growth in need to protect electronic equipment from power fluctuation
Surge Protection Devices Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $3,167 million by 2022, registering a CAGR of 5.7% during the period 2016 - 2022.
The hardwired devices and line chord devices segments collectively accounted for nearly half of the market share in 2015, and are expected to maintain this trend during the forecast period.
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Line chord devices segment generated the highest revenue in 2015. However, hardwired device segment is expected to witness fastest growth at a CAGR of 6.40% from 2016 to 2022. Commercial segment is anticipated to show high growth rate, registering a CAGR of 6.28%. However, residential segment accounted for the highest revenue in 2015.
North America generated the highest revenue and is expected to grow at a CAGR of 5.3%. Moreover, North America is expected to maintain its dominant position over the forecast period. Europe and Asia-Pacific are the second and third leading regions, respectively, in the surge protection devices market.
KEY FINDINGS OF SURGE PROTECTION DEVICES MARKET:
• North America occupied the major share (nearly two-fifths) of the total market in 2015, and is expected to grow at a CAGR of 5.3% from 2016 to 2022.
• Europe occupied the second largest market share of nearly one-third in 2015.
• Asia-Pacific shows highest growth rate, and is estimated to grow at a CAGR of 6.3%.
• Industrial application occupied the largest market share (nearly two-fifths) in 2015, and is estimated to grow with a CAGR of 5.4%.
• Line cord devices segment held the largest share (one-third) for the product segment in 2015, and is estimated to grow with a CAGR of 5.5%.
Key players that operate in this market are Raycap GmbH, General Electric Company, Schneider Electric SE, Emerson Electric Co., Pentair Technical Solutions, Eaton Corporation plc, Tripp Lite, Leviton Manufacturing Co., Inc., Crompton Greaves Limited, and PHOENIX CONTACT GmbH & Co. KG
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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