Surge protection devices (SPDs) are meant to decrease voltage transients and electrical noise on the power supply line by reducing random energy surges. High demand for electronic appliances, an increase in the requirement to protect sensitive electronic gadgets from power fluctuations, ease of installation, and cheaper costs are driving the surge protection devices market.
MARKET SCOPE
The "Global Surge Protection Devices Market Analysis to 2028" is a specialized and in-depth study of the surge protection devices Market with a special focus on the global market trend analysis. The report aims to provide an overview of surge protection devices market with detailed market segmentation by type, discharge current and application. The global surge protection devices market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading surge protection devices market player and offers key trends and opportunities in the surge protection devices market.
MARKET SEGMENTATION
? Based on the type the market is segmented as, hard-wired, plug-in, line cord, power control center.
? Based on discharge current the market is segmented as, below 10 KA, 10 KA and above.
? Based on application the market is segmented as, industrial, commercial, residential.
MARKET DYNAMICS
Drivers:
? High demand for electronic appliances, an increase in the requirement to protect sensitive electronic gadgets from power fluctuations, ease of installation, and cheaper costs are the key market drivers.
? The market is expected to rise due to an increase in demand for advanced surge protected goods and an increase in the requirement for increased performance and high efficiency SPDs.
? Increasing demand for protection of electronic devices.
Restraints:
? The surge protection devices market's growth is restrained by, requirement of additional costs for installation.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global surge protection devices market based on various segments. It also provides market size and forecast estimates from year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The surge protection devices market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting surge protection devices Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the surge protection devices market in these regions.
IMPACT OF COVID-19 ON SURGE PROTECTION DEVICES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The reports cover key developments in the surge protection devices market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from surge protection devices market are anticipated to lucrative growth opportunities in the future with the rising demand for surge protection devices market. Below mentioned is the list of few companies engaged in the surge protection devices market.
The report also includes the profiles of key surge protection devices market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
? ABB Ltd.
? Bourns, Inc
? Eaton Corporation
? Emerson Electric Co.
? Legrand SA
? Phoenix Contact
? Raycap GmbH
? Schneider Electric
? Siemens
? Tripp Lite
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.