A device or appliance with surge protection is made to protect electrical equipment from voltage surges. A surge protector works to reduce the voltage sent to electric equipment by either shorting to the ground or obstructing any errant voltages that exceed the acceptable limit.
The market for surge protection devices is expected to expand significantly and see a CAGR of 7.8% in terms of value between 2017 and 2027.
Global Surge Protection Devices Market: Dynamics
The global market for surge protection devices is expanding as a result of rising demand for surge arresters in locomotive applications and greater emphasis on reducing lightning’s harmful effects. However, a lack of component-level testing and a drawn-out warranty claim process is preventing the worldwide surge protection devices market from growing in terms of revenue over the anticipated timeframe.
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Global Surge Protection Devices Market: Key Players
Some of the top companies identified across the surge protection devices value chain are
- Eaton Corporation,
- Schneider- Electric. Co,
- Siemens AG,
- ABB Group,
- General Electric,
- Emerson Electric Co.,
- Littelfuse, Inc.,
- Koninklikes Philips N.V,
- Rockwell Automation, Inc., and
- Honeywell International Inc.
Key players are introducing technologically advanced surge protector devices that can be deployed in various applications such as residential, commercial, and industrial and this factor is boosting the growth of the surge protection devices market globally.
Global Surge Protection Devices Market: Forecast by Type
The global surge protection devices market is categorized based on type, end-user, and region. Based on type, the market is segmented as type 1, type 2, and type 3. The type 2 segment is anticipated to register the highest CAGR of 8.4% during the forecast period. While type 1 is anticipated to register a moderate CAGR of 7.1% with a market share of 32.9% in 2017.
Market Taxonomy
By Type:
- Type 1
- Type 2
- Type 3
By End-User:
- Industrial
- Commercial
- Residential
Key Regions covered:
- North America
- The U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- France
- The U.K.
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- APEX
- China
- India
- Australia & New Zealand
- ASIAN
- Rest of APAC
- Japan
- META
- GCC Countries
- Turkey
- South Africa
- North Africa
- Rest of MEA
Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Recommendations
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
2.3. Market Snapshot
2.4. Market Overview
3. Market View Point
3.1. Macro-Economic Factors
3.2. Opportunity Analysis
4. Global Market Analysis 2012–2016 and Forecast 2017–2027
4.1. Market Volume Projections
4.2. Market Size and Y-o-Y Growth
4.3. Absolute $ Opportunity
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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