Surge Protection Devices Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Surge Protection Devices Market: Overview
Surge protection devices form an important element of electrical installation protection systems for a range of applications such as communication and automatic control buses, telephone networks, and electric power supply networks. They are considered to be one of the most efficient and commonly used types of overvoltage protection devices that protect from internal load switching, utility switching, lighting, and other damaging transient effects. Besides protecting sensitive electronic equipment, they can be implemented to curb costly downtimes.
Global Surge Protection Devices Market: Key Trends
The analysts foresee recurrent equipment failures causing cost escalation, an increase in substitute energy programs, power quality problems, and hiking demand for electronic device protection systems to help speed up the growth of the world surge protection devices market. Less developed economies are anticipated to birth opportunities for market players to fight constraints such as high installation cost of surge protection devices. Growth prospects in different areas of the market could answer for other deterrents such as safety issues, unfitting testing, confusing assumptions, and substandard design parameters.
The global surge protection devices market could see a classification on the basis of discharge current. By type, plug-in surge protection devices are forecasted to clasp a leading share in the market, whereas hard-wired surge protection devices could secure a rising demand on the back of the primary need for protection from surges for various equipment. Players in the market are projected to leverage the new revenue pockets created through the industrial segment by end use expected to grow at a faster rate. Initiatives such as Industry 4.0 have increased the need for critical equipment including communication systems, servers, and datacenters, and in turn, the requirement of surge protection devices.
Global Surge Protection Devices Market: Market Potential
Top-rank Irish power management company, Eaton has released the all-new modular device range MTL SD Modular that provides a higher level of transient surge protection available for modular pluggable devices, i.e. up to 20 kA. Valuable distributed control systems and other instruments can be completely and cost-effectively protected by MTL SD Modular. Eaton’s new offering is expected to provide solutions for a more than 50.0% premature electronic equipment failures due to maintenance negligence and surge-related breakdowns.
Global Surge Protection Devices Market: Regional Outlook
With quarrying, mining, construction, and manufacturing activities on the rise, Eastern Europe is predicted to make the most of the demand for surge protection devices. Since Eastern Europe is one of the low industrial production areas, manufacturing facilities are increasingly transferring their operations to the region in order to fill the gap. Moreover, the strategic initiatives taken in Europe for the purpose of digitally developing manufacturing, IT, and industrial sectors have surged the implementation of networks, systems, and machines based on intelligent information and communication technology (ICT). This is likely to aggravate the demand for surge protection devices.
However, Asia Pacific is projected to register a higher growth on account of urbanizing populations and propelling investments for modernizing infrastructure in nations such as India and China. Major potential foreign direct investment (FDI) gains, capital investment percentage, and a large-scale move toward clean energy to satisfy spiraling energy requirement could help Asia Pacific augment its further growth.
Global Surge Protection Devices Market: Competitive Landscape
Followed by recognitions and awards, agreements and contracts, and acquisitions and mergers, new product developments are envisaged to be a go-to strategy of major players in the international surge protection devices market. Emerson Electric Company, Schneider Electric SE, Siemens AG, and ABB, Ltd. are expected to be the leading companies making their presence known in the market.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report