Global surge protection devices market is predicted to grow at approximately 5% by 2023
Pune, India, May , 2018 /MRFR Press Release/- The surge protection devices market is expected to grow over the CAGR of around 5% during the period 2018 to 2023.
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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.
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.
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Scope Of the Report : –
This study provides an overview of the Global surge protection devices market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global surge protection devices market by its type, by voltage type, application, by regions.
- By Type
- Plugin surge protection
- Hard wired
- Long cord
- Power control device
- By Voltage Type
- Low Voltage
- High Voltage
- By Application
- By Region
- North America
- Asia Pacific
- Rest of the World
The key players of global surge protection devices market 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), and HAKEL spol. s r. o (Czech Republic).
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