The global surge protection devices (SPDs) market is expected to reach USD 3.39 billion by 2025,
according to a new study by Grand View Research, Inc. The high costs incurred
due to electrical equipment downtime are expected to surge the demand for these
devices over the forecast period.
The need for protection
against lightning and voltage fluctuations has triggered the implementation of
SPDs. These devices are available in various types, which are used in an
electrical distribution system depending on location requirements. Surge
protection devices also ensure proper functioning of electrical equipment
during surges caused lightning strikes. Thus, implementation of SPDs is of
prime importance for any business or residential and commercial buildings.
The Asia Pacific region
is one of the key regions for outsourcing services, owing to favorable
government policies. This has led to a significant growth in the number of data
centers across the region. As these data centers store information of high
importance to the user, any failure in their functioning, due to downtime
caused by an electrical surge, would lead to heavy losses. Moreover, increasing
renewable energy generation projects across rural regions are further expected
to bolster the use of SPDs.
The rise in disposable
income has enabled the adoption of expensive consumer electronic. As these
electronic products are subject to regular internal surges, it is essential to
safeguard them. Furthermore, in developed regions, the well-established
information technology industry is encouraging the use of surge protection
devices on a large-scale for protecting electronic hardware such as data
servers, desktops, and electrical supply equipment.
Browse full report by Grand View
Research :http://www.grandviewresearch.com/industry-analysis/surge-protection-devices-market
Further key findings from the study suggest:
·
The type 2 SPD segment was valued at USD
610.1 million in 2016
·
The growing number of hospitals in
developing economies, such as India and China, along with widespread healthcare
network in developed countries, is anticipated to foster market growth
·
Increased electrification of rail networks,
coupled with the growing popularity of electric vehicles and their required
infrastructure, is predicted to boost the growth prospects of SPDs in the near
future
·
The North American region is expected to
significantly contribute to the industry growth and represented the largest
market size with USD 778.3 million in 2016, owing to the widespread awareness
of the benefits of SPDs
·
The key industry participants include ABB
Ltd, Advanced Protection Technologies, Inc., G Power and Industrial Solutions
Limited, Eaton Corporation PLC, Emerson Electrical Co., General Electric,
Legrand S.A., Schneider Electric, Siemens AG, and Tripp Lite
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has
segmented the surge protection devices market based on product types, power
ratings, applications, and regions:
Surge Protection Devices Product Type Outlook (Revenue,
USD Million; 2014 - 2025)
·
Type 1
·
Type 2
·
Type 3
·
Type 4
Surge Protection Devices Power Rating Outlook (Revenue,
USD Million; 2014 - 2025)
·
0-50 kA
·
50.1-100 kA
·
100.1-200 kA
·
200.1 kA and Above
Surge Protection Devices Application Outlook (Revenue,
USD Million; 2014 - 2025)
·
Commercial
·
Data center
·
Industrial
·
Medical
·
Residential
·
Telecom
·
Transportation
·
Other End-Uses
Surge Protection Devices Regional Outlook (Revenue, USD
Million; 2014 - 2025)
·
North America
o U.S.
o Canada
·
Europe
o UK
o Germany
·
Asia Pacific
o China
o India
o Japan
·
South America
o Brazil
·
Middle East & Africa (MEA)
View Press Release of this research
report by Grand View Research: http://www.grandviewresearch.com/press-release/global-surge-protection-devices-spd-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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