Latest industry research report on: Surge protection devices enable protecting electronic devices from significant increase in voltages or spikes and allows many electrical components to plug into single source of power.
Rising demand for high-end electronic equipment, losses due to equipment downtime and data losses, user-friendly installation process, and reasonable maintenance cost are the key drivers of the power surge protection device market. In addition, rising incidences of spike due to transient voltage and lightning accidents is boosting the adoption of the surging protection devices. The increasing applications of alternative sources of power such as wind power and solar power are also driving the demand of surge protection devices, since these devices are very prone to lightning strikes.
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This is due to its increasing demand across various application sectors such as industrial, residential and commercial sectors. Growing need for surge protection devices in emerging nations such as China, Brazil, India, U.K., Germany, and Norway across various industrial applications will offer promising growth opportunities in the market. The increasing demand for technological & sophisticated electrical appliances will increase its adoption rate.
Replacement of old infrastructure, enhanced grid reliability and enabling smarter power networks in the U.S. also offer great opportunities in the market and help prevent fire accidents. The presence of lead length while installing surge protection devices tend to reduce its performance. Further the volatile prices of raw materials used in designing surge devices is another market challenge.
This report segments the world surge protection devices market on the basis of geography, end-users, and types. On the basis of types, the market is segmented into line cord devices, hard wired devices, plug-in devices and power control center. On the basis of end users the market is segmented into Commercial, Residential and Industrial. Based on geography, the report is segmented into North America, South America, Europe, Asia-Pacific and Middle-East. The North American region is further segmented into US, Canada, among others, while South American region is further segmented into Brazil, Argentina, Chile and Colombia among others. The European region is segmented into U.K., Germany, France, and Russia. The AsiaPacific region is further segmented into Australia, China, India, Japan among others. The Middle East & Africa is segmented into UAE, Kuwait, South Africa, Saudi Arabia and Egypt, among others.
Prominent market players profiled in the report include ABB Limited, Eaton Corporation, Emerson Electric Corporation, Siemens AG, Schneider Electric SA, Belkin International, Advanced Protection Technologies, Crompton Greaves, General Electric, Leviton Manufacturing, Littlefuse, and Tripplite, among others.
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SURGE PROTECTION DEVICES KEY MARKET SEGMENTS:
Surge protection devices By Type
Surge Protection Devices Market By End User
Surge Protection Devices Market By Region
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