Surge Protection Devices Market Overview, Top Key Players, Opportunities and Growth Analysis by Forecast to 2023

Market Highlights
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. Surge Protection Devices Market is expected to grow over the CAGR of around 5% during the period 2016 to 2023

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.

Global surge protection devices market is expected to experience significant growth 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).

Globally, there is an increase in the need for communication systems, servers and datacenters due to the industrial initiative to facilitate data capture, remote maintenance and remote diagnostics. This initiative is largely being applied to electrical and automobile sectors. To protect the critical equipment that are being used in datacenters and communication systems facilities, there is an increasing need for the protection systems equipment. Additionally, installations of high end electronic equipment, increased use of personal computers and air-conditioning systems in the developing & developed economies, are driving the market growth for surge protection devices. Also, a global increase in the use of alternative energy systems is also expected to the drive the market.

Advantages of using Hard wired surge protection devices
The urban development projects around the world are increasing, as well as their need to be protected from lightning strikes, is increasing. For lightning protection system, hard wired surge protection devices are used in the buildings to protect power control centers, distribution boards and reduce the risk to the building. Also, increase in the level of house hold applications such as television, air condition systems, and refrigerators also drive the need for surge protection devices. Increased digitization of the automobile and industrial sector is leading to increased implementation of datacenters and diagnostic centers. The market for surge protector devices is driven by the increased use of the automated systems.

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This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the Global surge protection devices market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.

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