Global surge protection devices market was valued at USD 2020.4 million in 2014; growing at a CAGR of 5.6% from 2014 to 2020.
Albany, NY -- (SBWIRE) -- 12/10/2015 -- The concept of protecting electronic devices from power surges or spikes is known as surge protection. Surge protection devices allow multiple components to plug into a single power outlet. A power surge is a significant increase in voltage above the designated level. If power voltage rises above the standard voltage, it is likely to damage the electronic equipment. For instance, the standard voltage in the U.S. and India are 120 volts and 230 volts respectively, in residential and commercial sectors. A surge protector prevents electrical equipment from getting damaged, when the voltage increases beyond the standard level.
The global surge protection devices market is expected to witness a substantial growth during the forecast period. This is due to its increasing demand across various application sectors such as industrial, residential and commercial sectors. Increasing incidences of transient voltage and lightning accidents globally is increasing the usage of surge protection devices. If the surge or spike is high, it can cause heavy damage to electrical equipment.
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The increase in the usage of electrical equipment such as personal computers, printers and industrial control equipment such as PLC's, microwaves, washing machines and alarms are amplifying the demand for surge protection devices globally.
Among all the application segments, industrial sector holds the largest market share at present in surge protection devices market, whereas; commercial segment is expected to be the fastest growing application segment due to the increase in telephone and internet users in the emerging nations.
Adoption of high technologies equipment such as LCD and LED televisions in the emerging countries are the major factors that are responsible for the growth of surge protection devices market globally. These devices are sensitive and a small fluctuation in the voltage leads to damage of equipment. The rising demand for protection of electronic devices from power surges or spikes is fueling the demand for surge protection devices globally. North America is analyzed to lead the global surge protection devices market throughout the forecast period. However, Asia Pacific is expected to be the fastest growing region in this market due to rapid growth in industrialization.
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This market research study analyzes the surge protection devices market on a global level, and provides estimates in terms of revenue (USD million) from 2014 to 2020. The report recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.
The report segments the market on the basis of geography as North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue (USD million). In addition, the report segments the market based on the types, which include plug-in devices, hard wired devices, line cord devices and power control center. The market has been segmented on the basis of end use application as residential, commercial and industrial. All these segments have also been estimated on the basis of geography in terms of revenue (USD million).
For better understanding of the surge protection devices market, we have given a detailed analysis of the supply chain. In addition, a detailed Porter's five forces analysis has been given for a better understanding of the intensity of the competition present in the market. Furthermore, the study comprises a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness.
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The report provides company market share analysis of various industry participants. The key players have also been profiled and their company overview, financial overview, business strategies, SWOT analysis and the recent developments have been covered in the report. Major market participants profiled in this report include Schneider Electric, Eaton Corp., Emerson Electric Co., GE Industrial Solutions, Crompton Greaves Ltd., Raycap Corporation S.A and Phoenix Contact GmbH. among others.
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