Between 2017 and 2027, the value of the surge protection device market is anticipated to increase at a CAGR of 7.8%.

A surge-protected device or appliance is designed to shield electrical equipment against voltage peaks. In order to reduce the power supplied to electrical equipment, a surge protector either shorts to the ground or blocks any incorrect voltages that are higher than what is allowed.

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Global Surge Protection Devices Market: Dynamics

The global market for surge protection devices is expanding as a result of rising demand for surge arresters in locomotive applications and greater emphasis on reducing lightning’s harmful effects. However, a lack of component-level testing and a drawn-out warranty claim process is preventing the worldwide surge protection devices market from growing in terms of revenue over the anticipated timeframe.

Global Surge Protection Devices Market: Key Players

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.,
Koninklijke 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.

Global Surge Protection Devices Market: Forecast by Type

The global surge protection devices market is categorized based on type, end-user, and region. Based on 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.

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Market Taxonomy

By Type:

Type 1
Type 2
Type 3
By End-User:

Industrial
Commercial
Residential
Key Regions covered:

North America
The U.S.
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Western Europe
Germany
France
The U.K.
Spain
Italy
Benelux
Nordic
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
APEX
China
India
Australia & New Zealand
ASIAN
Rest of APAC
Japan
META
GCC Countries
Turkey
South Africa
North Africa
Rest of MEA