Surge Protection Devices Market Overview

Globally, there is a rise in the number of infrastructure projects. Especially, in North America and Europe, there is an increased number of urbanization projects underway where protection of electronic applications is of top priority. This is mainly due to the increased contribution of alternative energy systems to dwellings and the digitization projects of the automobile and industrial manufacturing processes. In the Asia Pacific region, there is need for surge protection devices since there is the issue of power quality and sudden high voltage, which can damage the electronic equipment.

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Industry Highlights

Globally, there is an increase in the need for communication systems, servers and datacenters due to the industrial initiative to facilitate data capture, remote maintenance and remote diagnostics. This initiative is largely being applied to electrical and automobile sectors. To protect the critical equipment that are being used in datacenters and communication systems facilities, there is an increasing need for the protection systems equipment. Additionally, installations of high end electronic equipment, increased use of personal computers and air-conditioning systems in the developing & developed economies, are driving the market growth for surge protection devices. Also, a global increase in the use of alternative energy systems is also expected to the drive the market.

Key Players

The key players of global surge protection devices market are Siemens AG (Germany), Eaton Corporation Plc. (Ireland), Littelfuse, Inc. (U.S.), ABB, Ltd. (Switzerland) , Schneider Electric SE (France), General Electric (U.S.), Vertiv.(U.S), and HAKEL spol. s r. o (Czech Republic).

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Industry Segmentation

The report has been analyzed based on types, applications, voltage types and regions. The commercial application segment is expected to witness a steady growth because of the growing alternative energy system implementation around the world. The increase in the investment on digitally transforming the electrical, auto and manufacturing industries for achieving high production efficiency, is driving the market for surge protection devices. Also urbanized infrastructure programs demanding protection of dwellings from voltage surge due to lightning strikes, is further expected to drive the market for surge protection devices.

Regional Outlook

North America is expected to dominate the surge protection devices market. This is mainly due to the fact that urbanization projects are rising in the region. Similarly, in the Europe region, digitization of manufacturing process, especially in the automobile and industrial sector is driving the market. For achieving higher production efficiency, intelligent ICT based machine systems that are capable of performing independently, are being implemented. This is acting as a lucrative market for surge protection devices. The Asia Pacific region is expected to achieve the highest CAGR during the forecast period.

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