Surge Protection Devices Market cover

Surge Protection Devices Market by Power Ratings (0-50 kA, 50.1-100 kA, 100.1-200 kA, and 200.1 kA & Above), Types (Type 1, Type 2, Type 3, and Type 4), Products (Line Cord, Power Control Devices, Hard-wired, and Plug-in), End-users (Medical, Residential Buildings & Spaces, Telecommunication, Transportation, Commercial Complexes, Data Centre, Industries & Manufacturing Units, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: FB-3329
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 4
  • No. Of Pages: 193
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The global surge protection devices market size was valued at USD 2.45 billion in 2020 and is expected to expand at a CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the critical necessity to adequately protect sensitive consumer gadgets from power fluctuations.

Surge Protection Devices Market summary

Surge protective devices (SPD) are sort of accessories to safeguard the electrical installation, which includes the wiring, consumer unit, and accessories against transient overvoltage’s (electrical power surges). High-voltage machinery and equipment are being rapidly deployed by manufacturing units. SPD can save machinery and preventing equipment downtime, equipment from surges and transients, as well as enhancing system and data reliability for both signal and power lines at this point. The number of lighting incidents has been increasing as a result of climate change and extreme weather environment. Power surges caused by lightning is often considered to be the most powerful when compared to power surges caused by other causes.

The COVID-19 pandemic has had a negative influence on the market. Supply chain interruptions have caused a particularly negative impact on surge protection device due to delay of production. As rising concerns during the pandemic, manufacturers of various electrical components including surge protection devices are busy assessing risk concerns and remain concerned about the safety of their employees.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing use of various consumer electronics and electrical equipment in both household and business settings are key factors driving the market growth.
  • Climate change and the resulting increase in lightning incidences are expected to drive the market expansion during the projected period.
  • Rising importance of workplace safety and security of employees within organizations are another drivers of the market.
  • Residential and commercial end-users are becoming increasingly conscious of the importance of protecting electrical equipment, which is projected to contribute significantly to the market's growth.
  • Proper installation of SPD is unknown to end users and lack of awareness of the products’ benefits are key challenges, which are expected to hinder the market expansion in the coming years.
  • Significant industrial setups and increasing infrastructure investments for the device production is expected to create lucrative opportunities for the market growth.

Scope of the Report

The report on the global surge protection devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Surge Protection Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Power Ratings (0-50 kA, 50.1-100 kA, 100.1-200 kA, and 200.1 kA & Above), Types (Type 1, Type 2, Type 3, and Type 4), Products (Line Cord, Power Control Devices, Hard-wired, and Plug-in), End-users (Medical, Residential Buildings & Spaces, Telecommunication, Transportation, Commercial Complexes, Data Centre, Industries & Manufacturing Units, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Legrand; Emerson Electric Co.; Siemens; cgglobal.com; ABB; General Electric; Schneider Electric; Eaton; Tripp Lite; and Vertiv Group Corp.

Market Segment Insights

100.1-200 kA segment to expand at a considerable CAGR

On the basis of power ratings, the surge protection devices market is segmented into 0-50 kA, 50.1-100 kA, 100.1-200 kA, and 200.1 kA & above. The 100.1-200 kA segment is projected to expand at a considerable CAGR during the forecast period due to wide applications of the power type among industrial and data center units. On the other hand, the 50.1-100 kA segment is anticipated to account for a major market share during the forecast period as it is often used by manufacturing units as well as household and commercial uses.

Type 2 segment to account for significant share of the market

In terms of types, the market is divided into type 1, type 2, type 3, and type 4. The type 2 segment is expected to account for significant share of the market as it is suited for both industrial and commercial use. However, the type 1 segment is projected to hold significant market share as the primary purpose of Type 1 SPDs is to safeguard electronic equipment from lightning surges.

Surge Protection Devices Market type

Hard-wired segment to grow at a significant rate during the forecast period

Based on products, the surge protection devices market is segregated into line cord, power control devices, hard-wired, and plug-in. The hard-wired segment is expected to grow at a significant rate during the projected period. Hard-wired SPDs are frequently put on power lines to safeguard downstream devices and outlets. However, the plug-in segment is expected to be a fast-growing segment during the forecast period due to their use and the benefits they can provide at various endpoints.

North America to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to their high level of awareness regarding the benefits of SPDs. As per a report, residential and commercial electricity usage accounts for around 37% of overall electricity consumption in the United States. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to the region's increased demand for consumer electronics.

Surge Protection Devices Market region

Segments

Segments Covered in the Report

The global surge protection devices market has been segmented on the basis of

Power Rating

  • 0-50 kA
  • 50.1-100 kA
  • 100.1-200 kA
  • 200.1 kA & Above

Types

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

Products

  • Line Cord
  • Power Control Devices
  • Hard-wired
  • Plug-in

End-users

  • Medical
  • Residential Buildings & Spaces
  • Telecommunication
  • Transportation
  • Commercial Complexes
  • Data Centre
  • Industries & Manufacturing Units
  • Others

Regions

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

Key Players

  • Legrand
  • Emerson Electric Co.
  • Siemens
  • cgglobal.com
  • ABB
  • General Electric
  • Schneider Electric
  • Eaton
  • Tripp Lite
  • Vertiv Group Corp.

Competitive Landscape

Key players competing in the global surge protection devices market are Legrand; Emerson Electric Co.; Siemens; cgglobal.com; ABB; General Electric; Schneider Electric; Eaton; Tripp Lite; and Vertiv Group Corp.

Surge Protection Devices Market keyplayers

Due to the presence of multiple important market players, the market can be classified as extremely competitive. These market players' key tactics include new product development, capacity expansions, mergers and acquisitions, strategic collaborations, partnerships, and agreements, as well as investment in R&D. Market participants are focusing on expanding their product portfolios after realizing that product quality is the most important aspect of the market.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Surge Protection Devices Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Surge Protection Devices Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Surge Protection Devices Market - Supply Chain
  4.5. Global Surge Protection Devices Market Forecast
     4.5.1. Surge Protection Devices Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Surge Protection Devices Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Surge Protection Devices Market Absolute $ Opportunity
5. Global Surge Protection Devices Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Surge Protection Devices Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Surge Protection Devices Demand Share Forecast, 2019-2026
6. North America Surge Protection Devices Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Surge Protection Devices Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Surge Protection Devices Demand Share Forecast, 2019-2026
7. Latin America Surge Protection Devices Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Surge Protection Devices Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Surge Protection Devices Demand Share Forecast, 2019-2026
8. Europe Surge Protection Devices Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Surge Protection Devices Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Surge Protection Devices Demand Share Forecast, 2019-2026
9. Asia Pacific Surge Protection Devices Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Surge Protection Devices Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Surge Protection Devices Demand Share Forecast, 2019-2026
10. Middle East & Africa Surge Protection Devices Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Surge Protection Devices Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Surge Protection Devices Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Surge Protection Devices Market: Market Share Analysis
  11.2. Surge Protection Devices Distributors and Customers
  11.3. Surge Protection Devices Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Legrand
     11.4.2. Emerson Electric Co.
     11.4.3. Siemens
     11.4.4. cgglobal.com
     11.4.5. ABB
     11.4.6. General Electric
     11.4.7. Schneider Electric

Segments Covered in the Report

The global surge protection devices market has been segmented on the basis of

Power Rating

  • 0-50 kA
  • 50.1-100 kA
  • 100.1-200 kA
  • 200.1 kA & Above

Types

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

Products

  • Line Cord
  • Power Control Devices
  • Hard-wired
  • Plug-in

End-users

  • Medical
  • Residential Buildings & Spaces
  • Telecommunication
  • Transportation
  • Commercial Complexes
  • Data Centre
  • Industries & Manufacturing Units
  • Others

Regions

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

Key Players

  • Legrand
  • Emerson Electric Co.
  • Siemens
  • cgglobal.com
  • ABB
  • General Electric
  • Schneider Electric
  • Eaton
  • Tripp Lite
  • Vertiv Group Corp.

Key players competing in the global surge protection devices market are Legrand; Emerson Electric Co.; Siemens; cgglobal.com; ABB; General Electric; Schneider Electric; Eaton; Tripp Lite; and Vertiv Group Corp.

Surge Protection Devices Market keyplayers

Due to the presence of multiple important market players, the market can be classified as extremely competitive. These market players' key tactics include new product development, capacity expansions, mergers and acquisitions, strategic collaborations, partnerships, and agreements, as well as investment in R&D. Market participants are focusing on expanding their product portfolios after realizing that product quality is the most important aspect of the market.

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