Surge Protection Devices Market Overview:-
Globally, there is an increase in the need for communication systems, servers and datacenters due to the industrial initiative to facilitate data capture, remote maintenance and remote diagnostics. This initiative is largely being applied to electrical and automobile sectors. To protect the critical equipment that are being used in datacenters and communication systems facilities, there is an increasing need for the protection systems equipment. Additionally, installations of high end electronic equipment, increased use of personal computers and air-conditioning systems in the developing & developed economies, are driving the market growth for surge protection devices. Also, a global increase in the use of alternative energy systems is also expected to the drive the Surge Protection Devices Market.
Surge Protection Devices Market Leading Key Players:-
The key players of surge protection devices market are Schneider Electric SE (France), ABB Ltd. (Switzerland), Mitsubishi Electric Corporation (Japan), Alstom SA (France), Siemens AG (Germany), and Toshiba (Japan). Larsen & Turbo (India), Hyundai heavy industries (South Korea), Hitachi (Japan), Fuji Electric (Japan), Nissin Electric (Japan), Xian XD (China), Hyosung (China), Bharat Heavy Electric Ltd. (India), Eaton (Ireland), and Meidensha (Japan) are among others.
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On the basis of type the surge protection devices are further segmented as plug-in protection devices, hard wired, line cord, and power control devices. Amongst these segments, hard wired are dominating the market share. The hard wired protection devices are capable of getting installed in the buildings to protect the devices from the lightning strikes and prevent the damage to power control and distribution boards. On the basis of voltage, the market is classified as high voltage and low voltage. The surge protection devices are getting attention from high voltage segment as industries operate on high voltage equipment and machinery that are expensive, which are essential to protect against transient surge and lightning strikes, with surge protection devices.
Major Points From Table Of Content:-
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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Global Surge Protection Devices Market Analysis:-
Global surge protection devices market is expected to witness exponential growth during the forecast period given the increasing awareness to secure the electrical equipment and machinery used in the industrial and residential sectors. North America and Europe region are expected to hold the largest market share. With increased urbanization projects such as smart cities, Europe and North America are expected to dominate the market. Also, the plan to digitally transform the automobile, industrial and IT manufacturing industries, is driving the market. A similar trend is witnessed in the Asia Pacific regions where there is an increase in infrastructure projects and manufacturing, especially in countries such as China and India. The region is expected to witness an increased growth rate during the forecast period.