The "Global Surge Protection Devices Market" was valued at US$ 1.98 Bn in 2019 and is expected to reach US$ 2.96 Bn by 2027 at a CAGR of 5.15% during a forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.

 

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Surge protection devices permit numerous components to plug into a single power outlet. If power voltage amplified more than the standard voltage or above the capacity of that device, it is expected to damage the electronic equipment.

The growing demand for innovative technological and sophisticated equipment includes LED televisions, personal computers, printers, and industrial control equipment like microwaves, washing machines, and alarms is increasing rapidly. These devices are highly sensitive. It is important to shelter these devices from getting damaged, which is expected to increase the demand for surge protection devices. These are the factors, which are expected to drive the global surge protection devices market.

Growing demand for surge arresters in locomotive applications and the rising importance is given to condensing the adverse impact of lightning are the major factors driving the growth of the global surge protection devices market. Furthermore, lack of awareness about component level testing and an extensive warranty claiming process are limiting the growth in the global surge protection devices market. The objective of the report is to present a comprehensive assessment of the global surge protection devices market and contains considerate insights, facts, historical data, industry-validated market data, and projections with an appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by material, type, end-user, and region and, projects the global market size.

The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global surge protection devices market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Global Surge Protection Devices Market Segment Analysis:

The line cord surge protection device segment held the major market share in the global surge protection devices market and is projected to maintain its position during the forecast period. The growing demand for line cord devices is predominantly endorsed owing to their widespread usage in applications includes the industrial, commercial, and residential sectors. Line cord devices shelter multiple devices from power surges. It also needs a fever cord to connect the devices with an electric outlet, which resulting propels the demand for Line cord surge protection devices.

The industrial segment is expected to dominate the global surge protection device market during the forecast period. The dominant position in the market is attributed to rapid industrialization in developing countries. The growing automation in both the manufacturing and processing industry has augmented the demand for surge protection devices in the industrial types of machinery and equipment.

With the growing use of electronic equipment, the requirement for protection systems for such critical equipment has been growing. These are the factors, which are expected to increase demand for surge protection devices in the industrial sector.
Global Surge Protection Devices Market Regional Analysis:

The Asia Pacific is expected to share a significant share in the global surge protection devices market. The growth can be attributed to an increasing number of data centres and the existence of large-scale electronics manufacturing companies in this region. The residential segment is one of the fast-growing segments, owing to the increasing sales of consumer electronics products. Consumers are gradually spending on comfort and convenient electronics products, owing to their enlarged purchasing power.

The requirement for the preservation of expensive electronics from power spikes or surges is expected to boom the growth of this segment in this region. The region is shifting towards clean energy on a great scale in order to meet its rising energy needs in an efficient way. The countries from this region such as India, China, and Singapore are some of the impending growing markets in the power and utility sector. Augmented investments in reforming infrastructure and urbanizing populations, specifically in developing economies such as China and India, are projected to drive the Asia-Pacific surge protection devices market.
Global Surge Protection Devices Market, Key Highlights:

• Global Surge Protection Devices Market analysis and forecast, in terms of value.

• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Surge Protection Devices Market

• Global Surge Protection Devices Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

• Global Surge Protection Devices Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

• Global Surge Protection Devices Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Surge Protection Devices Market are also profiled.

The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.

 

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The Scope of the Report Global Surge Protection Devices Market : Inquire before buying

Global Surge Protection Devices Market, by Product

• Plug-in devices
• Hardwired devices
• Line cord devices
• Power control center
Global Surge Protection Devices Market, by Discharge Current

• Below 10 kA
• 10 kA–25 kA
• Above 25 kA
Global Surge Protection Devices Market, by End-User

• Industrial
• Commercial
• Residential
Global Surge Protection Devices Market, by Geography

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Global Surge Protection Devices Market Key Player

• Advanced Protection Technologies
• Raycap GmbH
• General Electric Company
• Schneider Electric SE
• Eaton Corporation plc.
• Tripp Lite
• Leviton Manufacturing Co. Inc
• Crompton Greaves Limited
• PHOENIX CONTACT GmbH & Co. KG
• ERICO International Corporation
• Belkin International
• Emerson Electric Co.
• Pentair Technical Solutions.
• Littelfuse, Inc
• Koninklikes Philips N.V
• Honeywell International Inc.
• REV Ritter GmbH
• Panamax
• Mersen Electrical Power
• MCG Surge Protection

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