Surge Protection Devices Market Revenue To Reach US$ 2.87 Bn By 2021

05-Sep-2018 | Zion Market Research

With the presence of a large pool of participants, the global surge protection devices market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). ABB Limited, Emerson Electric Co., Crompton Greaves Ltd., Eaton Corp., Phoenix Contact GmbH, Schneider Electric, and Siemens AG are some of the key vendors of surge protection devices across the world. These players across surge protection devices market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the surge protection devices market study.

Citing an instance, in August 2018, ALLTEC, a leading service provider of surge suppression & lightning surge protection technologies, has launched an innovative & enhanced ADS line of surge protection equipment referred as ADSi.

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This review is based on a report by Zion Market Research, titled "Surge Protection Devices Market (Plug-in devices, Hard wired devices, Line cord devices and Power Control Center) for Commercial, Residential and Industrial Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021." - Report at http://www.zionmarketresearch.com/report/surge-protection-devices-market

As estimated in this report, the global surge protection devices market stood at US$ 2.10 billion in 2015. Witnessing a tremendous rise during the period from 2015 to 2021, the revenue in this market is expected to reach US$ 2.87 billion by the end of the forecast period. The main types available in this market are Plug-in devices, power control center, line cord devices, and hardwired devices. Among them, the demand for line cord devices is relatively higher and the trend is anticipated to remain so over the next few years, notes the surge protection devices market research report.

Global Surge Protection Devices Market

Escalating Demand For Electronic Devices To Impel Market’s Growth

 “Burgeoning power quality issues experienced by the electronic equipment owing to the massive electricity flow is anticipated to uplift the product demand over the coming years,” says the author of this study. Apart from this, surge protection devices help in minimizing the maintenance costs of electronic devices. Furthermore, swelling purchasing power of customers in developing countries is anticipated to favorably affect surge protection devices market size.

Reportedly, the product is proved effective in voltage spikes & surges, which can adversely impact the surge protection devices market growth in the years ahead. Nevertheless, increase in funding of R & D activities taking place across the renewable energy sector is predicted to open new growth vistas for surge protection devices industry in the near future, normalizing the impact of hindrances on the surge protection devices market, reports the surge protection devices market study.

High Disposable Incomes & Mammoth Use Of Electrical Devices to Spur Growth

Regionally, North America has been leading the worldwide surge protection devices market and is anticipated to continue on the dominant position in the years to come, states the surge protection devices market study. Large-scale use of electrical & electronic devices, including washing machines, microwave ovens, and LED televisions is the key factor behind the dominance of the North America surge protection devices market. For the record, North America surge protection devices market garnered revenue of nearly US$ 801.9 million in 2015.

The global surge protection devices market is segmented as follows:

By Type

  • Plug-in devices
  • Hard-wired devices
  • Line cord devices
  • Power control center

By Application

  • Commercial
  • Residential
  • Industrial

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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