Surge Protection Devices Market:
Global Surge Protection Devices Market was valued at $2,127 million in 2015, and is expected to reach $3,167 million by 2022, supported by a CAGR of 5.7% during the forecast period 2016 - 2022. Surge protective devices (SPDs) are designed to reduce the random energy surges of voltage transients and electrical noise on the power supply line.
The market is driven by factors such as high demand for electronic appliances, growth in need to protect sensitive electronic appliances from power fluctuation, easy installation, and lower cost.
Global Surge Protection Devices Market Segmentation
By product, the market is classified into plug-in devices, hardwired devices, line chord devices, and power control center. Line cord devices segment contributed the largest share among product segment in 2015, whereas industrial application has the highest market share among the application segment in the same year.
Geographically, North America dominated the surge protection devices market in 2015 owing to increase in demand for electronics appliances in industrial and residential areas. Europe was the second largest regional market for surge protection devices, in terms of revenue.
Top Investment Pocket
Currently, residential and industrial segments have witnessed significant adoption of SPDs. Residential segment has high rate of adoption due to increase in demand for SPDs in appliances such as air conditioning systems, room heater, televisions, computers, and kitchen appliances. Rise in demand for advanced surge protected products and growth in need for improved performance & high efficiency of SPDs are anticipated to drive the growth of the market.
Other emerging segments such as commercial and industrial currently possess small market size, in terms of value, are projected to grow rapidly in the coming years.
Key players that operate in this market are Raycap GmbH, General Electric Company, Schneider Electric SE, Emerson Electric Co., Pentair Technical Solutions, Eaton Corporation plc, Tripp Lite, Leviton Manufacturing Co., Inc., Crompton Greaves Limited, and PHOENIX CONTACT GmbH & Co. KG
Surge Protection Devices Market Key Benefits:
- This report provides an extensive analysis of the current & emerging trends and dynamics of the global surge protection devices market.
- In-depth analysis is done by constructing market estimations for the key market segments between 2014 and 2022.
- The projections in this report are made by analyzing the current trends and future market potential from 2014 to 2022, in terms of value.
- This report provides the quantitative analysis of the current trends and future estimations, which assists to identify the prevailing market opportunities.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
- Comprehensive analysis of all regions is provided, which determines the prevailing opportunities in these geographies.
Surge Protection Devices Market Key Segments:
- Plug-in devices
- Hardwired devices
- Line cord devices
- Power control center
- North America