Press release
Surge Protection Devices Market: Evolving Technology, Trends and Industry Analysis
The growth in this market can be attributed to growing use in electrical equipment, reduction in loss of data, and declining maintenance costs and delays. On the down side, volatile nature of the cost of raw materials and additional installation costs threaten to impede the growth of the surge protection devices market.
Browse the full Surge Protection Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at https://www.transparencymarketresearch.com/surge-protection-devices-market.html
By type, the surge protection devices market is fragmented into hard wired devices, power control center, plug-in devices, and line cord devices. In 2014, line cord devices generated US$650.3 mn in revenue, making it the dominant segment that year. Hard wired devices, on the other hand, are forecast to register the highest CAGR from 2014 to 2020.
On the basis of application, the surge protection devices market is segmented into industrial, commercial, and residential. The industrial segment accounted for the largest share of the surge protection devices market in 2014, amounting to US$763.2 mn that year. This segment is largely driven by rapid industrialization in Asia Pacific as well as the Rest of the World region where the usage of automated processes in processing and manufacturing is rather high. The commercial sector, on the other hand, is projected to witness the highest CAGR at 6.30% from 2014 to 2020.
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The global surge protection devices market is geographically divided into North America, Europe, Asia Pacific, and Rest of the World. In 2014, North America dominated the overall market owing to increasing sales of electrical equipment in the residential and industrial sectors. Valued at US$801.9 mn in 2014, North America will continue to lead the global market, even though it is predicted to register the lowest growth rate during the forecast period.
Asia Pacific, on the other hand, is anticipated to become the most rapidly developing regional segment of the surge protection devices market, registering a 6.40% CAGR from 2014 to 2020. This region is driven by increasing demand for sophisticated electrical and electronic equipment such as microwave ovens, LED televisions, and washing machines. The demand for this equipment is most likely to stem from developing economies such as China, Indonesia, and India.
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The research report identifies the major participants operating in the global surge protection devices market and analyzes them on the basis of various attributes. The players profiled in the surge protection devices market report are GE Industrial Solutions, Schneider Electric S.E., Tripp-Lite, ERICO International Corporation, Raycap Corporation S.A., Emerson Electric Co., Eaton Corp. PLC., Leviton Manufacturing Co. Inc., Phoenix Contact GmbH, Crompton Greaves Ltd., and Legrand S.A.
Global Surge Protection Devices Market: By Type
Plug-in devices
Hard wired devices
Line cord devices
Power control center
Global Surge Protection Devices Market: By Application
Commercial
Residential
Industrial
Global Surge Protection Devices Market: By Geography
North America
Europe
Asia Pacific
Rest of the World
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