Surge Protection Devices Market
Surge Protection Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
Press Release :
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. The concept of protecting electronic devices from power surges or spikes is known as surge protection. The surge protection device allows multiple equipment to plug into single power outlet in order to minimize the risk of damage. A power surge is a significant increase in voltage above the designated level. The rise in voltage above standard level is expected to damage the electronic equipment.
The global surge protection devices market is segmented into North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). The surge protection devices market is primarily driven by the increase in the usage of electrical equipment such as home entertainment systems, personal computers and microwave ovens among others. These devices are sensitive and could be damaged by a small fluctuation in the voltage. In order to protect these devices from power surges or spikes, surge protection devices are needed. In addition, the reductions in maintenance costs, delays and data loss in the electrical equipment are the factors responsible for the growth of surge protection devices market.
Geographically, North America led the global surge protection devices market in 2014 and the region is expected to continue its leading position throughout the forecast period. In 2013, this region had seen significant growth in surge protection devices market due to the growth in sales of electrical equipment in the industrial and residential sectors. The surge protection impacts the productivity and profitability by saving the equipment from the internal and external surges. The usage of surge protector in electrical equipment eliminates data loss and reduces the cost of maintenance. These major factors are responsible for the increase in the usage of surge protection devices in North America. Europe and Asia Pacific followed by North America.
The surge protection devices market is segmented on the basis of types into plug-in devices, hard wired devices, line cord devices and power control center. Among all, line cord surge protection devices segment held the largest market revenue share in 2014 and is expected to maintain its position throughout the forecast period. The increasing demand for line cord devices is primarily endorsed due to their wide usage in applications such as industrial, commercial and residential sector. Line cord devices protect multiple devices from power surges. It also requires less number of cords to connect the devices with an electric outlet.
The surge protection devices market is further segmented by applications into industrial, commercial and residential. The global surge protection devices market is majorly driven by industrial segment due to rapid growth in industrialization in the developing countries. The increasing automation in both manufacturing and processing industry has increased the demand for surge protection devices in the industrial machineries and equipment. Commercial sector is analyzed to be the fastest growing application segment for surge protection devices and is expected to attain a significant growth in the coming years due to increase in the users of telephone and internet in the emerging nations.
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.
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.
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.
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.
Global Surge Protection Devices Market: By type
- Plug-in devices
- Hard wired devices
- Line cord devices
- Power control center
Global Surge Protection Devices Market: By application
Global Surge Protection Devices Market: By geography
- North America
- Asia Pacific
- Rest of the World
The report also provides a cross-sectional analysis of the mentioned segments (i.e., by type and application) with respect to the above mentioned regions.