Global Surge Protection Devices (SPD) Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global surge protection devices market in its upcoming report titled, “Global Surge Protection Devices Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global surge protection devices market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global surge protection devices market report has been segmented on the basis of type, application, and region.

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Surge protection devices (SPD) are devices used to limit surge in energy to electrical equipments. Also, surge protection devices are used to protect circuits and are connected in parallel to the power supply circuits. Generally, (SPD) are used for electric power supply networks, communication and automatic control buses, and telephone networks. SDP limits overvoltage and diverts current waves to the earth. Surge protection devices are mainly installed at communications systems, power distribution panels, process control systems, other heavy-duty industrial systems to protect against electrical surges and spikes.

Increasing use of electronic devices coupled with rising demand for protection of these devices from fluctuating electric power supply across the globe are major factors driving growth of the global surge protection devices market. In addition, installation of surge protection devices reduces costs associated with equipment failure due to overvoltage which is another factor expected to propel growth of the global surge protection devices market over the forecast period.

However, lack of awareness about surge protection devices is a major factor restraining growth of the global surge protection devices market. Also, additional costs associated with installation of surge protection devices is another factor expected to hamper growth of the global surge protection devices market over the forecast period.

The market in North America is expected to account for highest share in terms of revenue and is expected to maintain its dominance over the forecast period. This dominance can be attributed to increasing demand for surge protection devices for securing electrical and electronic equipment and countries in the region being highly prone to voltage fluctuations. The market in Asia Pacific is expected to register significant growth in the target market over the forecast period, owing to growing demand for electronic equipment coupled with presence of major market players in emerging economies such as China, India, and Japan.

Global surge protection devices market segmentation:

By Type:

• Type 1 SDP
• Type 2 SDP
• Type 3 SDP
• Type 4 SDP

By Application:

• Industrial
• Commercial
• Residential

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa