According to the new market research report "Surge
Protection Devices Market by Type (Hard-Wired, Plug-In, and Line Cord),
Discharge Current (Below 10 kA, 10 kA–25 kA, and above 25 kA), End-User
(Industrial, Commercial, and Residential), and Region",
published by MarketsandMarkets™, the surge protection devices market is
expected to grow at a CAGR of 5.47%, from 2017 to 2022, to reach a market size
of USD 2.68 billion by 2022.
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Growing demand for protection systems for electronic
devices, power quality issues, a rise in alternative energy programs, and cost
escalation due to frequent equipment failures are the major drivers of the
surge protection devices market.
Browse and in-depth TOC on "Surge Protection Devices Market"
72 - Tables
30 - Figures
146 - Pages
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The surge protection devices market is dominated by a few
major players that have a wide regional presence and are established brand
names. The leading players in the surge protection devices market include Siemens
AG (Germany), Eaton (Ireland), Littelfuse, Inc. (U.S.), ABB, Ltd.
(Switzerland), and Schneider Electric SE (France). These companies have developed new products and implemented
advanced production technology to bolster their product portfolios.
The report segments the surge protection devices market,
by end–user, into industrial, residential, and commercial. The industrial
segment is expected to grow at the fastest rate during the forecast period. The
Industry 4.0 initiative is being
applied to vehicles and electrical machinery in order to facilitate remote
diagnostics, remote maintenance, and remote data capture. Such initiatives have
increased the need for datacenters, servers, and communication systems. With
the increasing use of electronic equipment, the need for protection systems for
such critical equipment has been increasing. This is driving the market for
surge protection devices in the industrial segment, which is expected to create
new revenue pockets for the surge protection devices market during the forecast
period.
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With regard to the type segment, hard-wired SPDs are
expected to constitute the fastest growing market from 2017 to 2022. These are
designed to be installed in places where the risk of a direct lightning strike
is high, especially when the building is equipped with an external lightning
protection system. Hard-wired SPDs are used as primary protection devices for
locations prone to maximum risk, such as main distribution boards, power
control centers, and outdoor distribution boards. The growing demand for
primary protection of equipment from surges is driving the market for
hard-wired surge protection devices.
The SPD market in Asia-Pacific is expected grow at the
highest CAGR during the forecast period. The region is moving towards clean
energy on a large scale in order to meet its growing energy needs in an
efficient way. India, China, and Singapore are some of the growing markets in
the power and utilities sector. Also, Asia-Pacific offered the biggest
potential gains for foreign direct investment, and attracted 45% of all capital
investment globally, in 2015. Increased investments in modernizing
infrastructure and urbanizing populations, especially in developing economies
such as China and India, is expected to drive the Asia-Pacific surge protection
devices market.
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In this report, the surge
arresters devices market has been segmented, on the basis of type, into
station class, intermediate class, and distribution class, and on the basis of
voltage into low and medium voltage, high voltage, and extra high voltage surge
arresters. The market has also been segmented, on the basis of region, into
North America, Europe, Asia-Pacific, South America, and the Middle East &
Africa. The market for surge arresters is expected to grow from an estimated
USD 1,488.8 million in 2017 to USD 1.909.7 million by 2022, at a CAGR of 5.11%,
from 2017 to 2022.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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