Surge protection device is a device or appliance that is designed to safeguard electrical devices from voltage surge. A surge protector tries to limit the supplied voltage to an electric device by either shorting to the ground or blocking any unwanted voltages above the safe threshold. The global surge protection devices market is anticipated to witness significant growth and register a CAGR of 7.8% in terms of value during the forecast period (2017 – 2027).
Market revenue push and pull factors
Increasing demand for surge arresters in the locomotive application and a growing need to reduce the adverse impact of lightning are major factors driving revenue growth of the global surge protection devices market. However lack of component level testing and long warranty claiming process is restraining market revenue growth in the global surge protection devices market.
Global Surge Protection Devices Market: Forecast by Segmentation
The global surge protection devices market is categorised on the basis of type, end-user and region. On the basis of 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. On the basis of end-user, the global market is segmented into industrial, commercial and residential. The revenue contribution from the commercial sector segment is anticipated to expand at a CAGR of 9.1% during the forecast period.
Among the regions, APAC is projected to exhibit relatively high growth in the global surge protection devices market, registering a CAGR of 10% over the forecast period. Revenue from the surge protection devices market in Asia Pacific and North America is expected to collectively account for over 43% of the global surge protection devices market revenue by the end of 2017. Surge protection devices providers can focus on expanding their technologies across several countries in the APAC and North America regions such as India, China and U.S.
Global Surge Protection Devices Market: Key Player Ecosystem
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.
Future Market Insights offers a 10-year forecast for the surge protection devices market between 2017 and 2027. This study demonstrates the market dynamics and trends globally across regions North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East and Africa which influence the current nature and future status of the surge protection devices market over the forecast period.
This research report provides a detailed analysis of the surge protection devices market and offers insights on the various factors such as driving factors and challenges to the market in the near future with recommendations for device manufacturers aimed at increasing the demand for surge protection devices in the market. The market study provides comprehensive assessment of key stakeholder strategies and imperatives for succeeding in the business. The report segregates the market based on type and end-user across different regions globally. The report starts with an overview of the global surge protection devices market in terms of value. In addition, this section includes analysis of key trends, drivers and restraints influencing the surge protection devices market. Impact analysis of key growth drivers and restraints are included in this report to facilitate clients with crystal clear decision-making insights.
The global surge protection devices market is categorized on the basis of type, end-user and region. A detailed analysis has been provided for every segment in terms of market size analysis for surge protection devices across the different regions. The next section presents a detailed analysis of the surge protection devices market across various countries in the region. It provides a market outlook for 2017–2027 and sets the forecast within the context of the surge protection devices market including latest technological developments as well as service offerings in the market. This study discusses key trends within countries contributing to the growth of the market, as well as analyses the degree at which drivers are influencing this market in each region.
This report evaluates the present scenario and the growth prospects of the surge protection devices market across various regions globally for the period 2017 –2027. We have considered 2016 as the base year and provide data for the trailing 12 months. The forecast presented here assesses the total revenue by value across the market. In order to offer an accurate forecast, we have started by sizing the current market, which forms the basis of how the surge protection devices market will develop in the future. Given the characteristics of the market, we have triangulated the outcome of different services and component and analyses, based on the technology trends. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the market.
In the final section of the report, we include a competitive landscape to provide clients with a dashboard view based on categories of providers in the value chain, presence in the surge protection devices market and key differentiators. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the surge protection devices value chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on in-depth assessment of capabilities and success in the marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the surge protection devices market.
Key Segments Covered
Key Regions Covered
Rest of Latin America
Rest of Western Europe
Asia Pacific excluding Japan
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East & Africa