Global Surge Protection Devices Market to Show Magnificent Growth of 5% post 2023

Market Research Future adds new report of “Global Surge Protection Devices Market- Global Forecast To 2023” it contains Company information, geographical data and Table of Content

Market Segmentation:

• By Type; Plugin Surge Protection Devices, Hard Wired, Line cord, Power control device

• By Application; Residential, Industrial and Commercial

• By Voltage Types; Low voltage, high voltage

• By Regions

Market Highlight:

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 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.

Protection devices are segmented on the basis of the types of voltage they operate upon, such as high and low voltage systems. Furthermore, they are classified based on the application types such as residential, industrial and commercial applications. The hard-wired surge protection devices are expected to grow the fastest and they are installed in dwellings with the risk of lightning strikes and damage to the power control and distribution boards. The market is dominated by North America and Europe, where there is an increased investment in protecting urbanized infrastructure development. The Asia Pacific region is expected to grow the largest during the forecast period.

The surge protector devices market is expected to grow at a CAGR of 5% during the forecast period.

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Key Players

The key players of global surge protection devices Markets 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)
• HAKEL spol. S r. o (Czech Republic)

Intended Audience

• Distributer & Supplier companies
• End Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities

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Study Objectives of Global Surge Protection Devices Market

To provide detailed analysis of the market structure along with forecast for the next five years of the various segments and sub-segments of the global surge protection devices market

• To provide insights about factors affecting the market growth

• To analyze the global surge protection devices market based on various tools such as Supply Chain Analysis, and Porter’s Five Force Analysis

• To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries

• To provide country level analysis of the market with respect to the current market size and future prospective

• To provide country level analysis of the market for segments by material type, product, application and region

• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the surge protection devices market

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Regional Analysis

There is a global demand for protecting electrical appliances from sudden voltage hike and power quality issues that may result in frequent equipment failures. Furthermore there is an increased power production from alternative energy systems around the world, which drives the need for surge protection devices. With increased urbanisation projects, the Europe and the North America region is 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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