The global surge protection devices market is projected to grow at a CAGR of 5.47%,
from 2017 to 2022. Europe is estimated to be the largest market, followed by
North America. The market in Asia-Pacific is projected to surpass the North
American market by 2022 to become the second-largest market for surge
protection devices after Europe. The growth of the surge protection devices
market is driven by 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.
Browse 72 market data tables and 30 figures
spread through 146 pages and in-depth TOC on "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 - Global Forecast to 2022"
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The surge protection devices market is dominated by a few
global players. Key players operating in the market are ABB, Ltd. (Switzerland), Siemens
AG (Germany), Schneider Electric SE (France), and Emerson Electric Company
(U.S.).
The target audience of this report includes:
·
Surge protection device manufacturers, dealers,
and suppliers
·
Consulting companies in the energy and power
sector
·
Government and research organizations
·
Investors and shareholders
·
Environmental research institutes
·
Process industries and power and energy
associations
·
Surge protectors components manufacturers
·
Manufacturing industry
·
Energy efficiency consultants
The major strategies adopted by the players include
contracts & agreements, new product developments, expansions, and mergers
& acquisitions. New product developments was the most commonly adopted
strategy from 2013 to 2016. Industry players also adopted mergers &
acquisitions, which was the second most widely followed strategy, during the
same period.
ABB, Ltd. is a
leading power and automation technology company offering a wide range of
products, services, and systems, namely, transformers, distribution automation
products, high-voltage products, power transmission systems, grid integration
systems, and others. The company operates in four segments, namely, power
grids, electrification products, process automation, and discrete automation
and motion. It offers surge protection devices under its electrification
products division, which accounted for 26% of the company’s total net sales in
2016. The company has a wide array of products ranging from switches and
sockets to robots, and from large transformers to control systems that manage
entire power networks and factories. The company, through its continuous innovation
in the power sector, has been winning numerous awards and scientific accolades.
ABB, Ltd. acquired Thomas and Betts (U.S.) in May 2012, a market leader in low
voltage surge protection products in the North American region. The company has
launched a number of new products in recent years and improved its existing
product portfolio. For instance, the company introduced the UL 1449, which
offers life-long protection against surges for valuable electronic equipment.
The company is likely to focus on continuous innovation through technological
advancements. Moreover, ABB emphasized operational excellence by improving its
post sales services in the last quarter of 2016.
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Eaton Corporation,
Plc. is a power management company offering a wide range of products
related to fuel-efficient systems and power chain management tools. The company
operates through five business segments, namely, electrical products,
electrical systems and services, vehicles, hydraulics, and aerospace. Eaton’s
electrical business segment offers power distribution, power quality, control
and automation, and monitoring products and services. The company offers surge
protection devices through its electrical products division, which accounted
for 35% of the company’s total net sales in 2016. The principal markets for
these products are the industrial, institutional, governmental, utility,
commercial, residential, and information technology sectors. These products and
solutions are used wherever there is a demand for electrical power in
commercial buildings, datacenters, residences, apartments and office buildings,
hospitals, factories, utilities, and industrial and energy facilities. The
company strongly focuses on R&D and product or technology innovations,
which would help it to grow in the surge protector market, and in regions such
as China and India. For instance, in October 2016, the company launched the SPC
series surge protective devices which provide flexible and configurable surge
protection for commercial and light industrial applications. In addition, a
wide array of offerings in its surge protector product portfolio helps the
company increase its consumer base globally.
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