Surge Protection Devices Market : Technological Growth Map Over Time To Understand the Industry Growth Rate

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 it to ground or blocking any unwanted voltages above the safe threshold.

According to a recent research report published by Future Market Insights titled “Surge Protection Devices Market: Global Industry Analysis (2012-2016) & Opportunity Assessment (2017-2027),” the global surge protection devices market was valued at US$ 2,046.4 Mn in 2016, and is expected to register a CAGR of 7.8% from 2017 to 2027.

Increasing demand for surge arresters in locomotive applications and growing importance given to reduce the adverse impact of lightning are major factors driving the growth of the global surge protection devices market. However, lack of component level testing and a long warranty claiming process are factors restraining market revenue growth of the global surge protection devices market during the forecast period.

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This report also covers trends driving each segment and offers analysis and insights regarding the potential of the surge protection devices market in the key assessed regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East and Africa. Among the regions, APEJ is projected to exhibit relatively high growth in the global market, registering a CAGR of 10.0% over the forecast period.

Revenue from the surge protection devices market in Asia Pacific is expected to account for over 18.3% of the global surge protection devices market revenue in 2017. Surge protection devices providers can focus on expanding across several countries in the APAC and North America regions such as India, China and U.S.

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Key competitors covered in the global surge protection devices market report include 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.

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