Surge Protection Device Market Worth to Reach USD 3773.58 MN By 2027
Posted On May 31, 2021
The Global Surge Protection Device Market report evaluates the market revenue to reach USD 3773.58 MN mark in 2027. The CAGR is expected to be close to 7% from 2021 till the end of 2027 according to the newly published report by Value Market Research. The augmented demand for electrical appliances and the need to protect electronic devices from sudden surge or voltage fluctuation are primitive market drivers of surge protection devices market growth. Increased adoption of electrical appliances with inbuilt surge protection devices like room heaters, air-conditioners, a refrigerator is also one of the major driving forces for growth in the surge protection devices market. High investment in the technology sector for technological advancement and increasing industrial development has led to a rise in the demand for surge protection devices. Hence, these factors are assumed to spur the growth of the surge protection devices market. Also, the improved performance and high efficiency of these devices will further support the growth of this market.
The surge protection devices (SPDs) are used to protect electrical devices from voltage spikes/fluctuation in alternating current by limiting transient over-voltages and diverting surge currents to the ground. Surge protection devices are an important component of the electrical installation protection system. These devices are used for electric power supply networks, telephone and communication networks, etc., and can be used at all levels of the power supply network. These devices are connected in parallel combination and have high impedance. Surges can cause damage to electronic components, logic failures ad breakdowns; also, the long-term exposure to lower level transient overvoltage can lead to premature aging of the device.
The market dynamics covered in the report "Global Surge Protection Device Market Report By Product (Plug-In Devices, Hardwired Devices, Line Cord Devices, Power Control Center), By Application (Commercial, Data Center, Industrial, Medical, Residential, Telecom, Transportation, Other End-Uses) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" gives a holistic scope of the market along with the market forecasts.
On the basis of product the market is segmented into Plug-in Devices, Hardwired Devices, Line Cord Devices, Power Control Center. By application the surge protection device market is categorised as Commercial, Data Center, Industrial, Medical, Residential, Telecom, Transportation, Other End-Uses. Geographically the research study provides data on North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. Each region is segregated into North America (North America, United State and Rest of North America), Europe (United Kingdom, France, Germany, and Rest of Europe), Asia Pacific (China, Japan, India, Rest of Asia Pacific), Latin America (Brazil, Rest of Latin America) and Middle East & Africa. This section provides the estimates of market by segment. This section provides the estimates of market by segment thus, providing valuable data to take strategic decisions.
The Report Segments Global Surge Protection Device Market -
- Plug-in Devices
- Hardwired Devices
- Line Cord Devices
- Power Control Center
- Data Center
- Other End-Uses
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
ABB Ltd., Leviton Manufacturing Co., Tripp Lite, Crompton Greaves Limited, Industrial Solutions Limited, Phoenix Contact GmbH & Co. KG, Power, Eaton Corporation PLC, General Electric, and Emerson Electric Co.
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