Market Definition / Research Scope
For the purpose of this market research report, an Industrial Surge Protection Device is defined as a device that employs the mechanism of protecting industrial equipment from power fluctuations, overvoltage, and electricity surges. It saves the devices and equipment from damage from electric current being higher than the required amount. The Industrial Surge Protection Devices can be classified as surge arresters and surge protectors. Surge arresters cancel out the effects of lightning and overvoltage, and surge protectors block or cut short the current to reduce voltage to a safer threshold. The Industrial Surge Protection Devices not only drive extra current to the earth wire but also allow the normal flow of voltage.
Industrial Surge Protection Devices Market shall reach a value of $2x61.4 Million in 2031, growing with a CAGR of 12.13% during the forecast period of 2022 to 2031.
Industrial Surge Protection Devices Market Growth and Trends
Surge production device is a component of the electrical installation protection system. This device is connected in parallel on the power supply circuit of the loads that it has to protect. SPD are used for electric power supply networks, telephone networks, communication and automatic control buses. It can also be used at all levels of the power supply network. This is the most commonly used and most efficient type of overvoltage protection. SPD is desgined to limite transient overvoltages of atmospheric origin and divert current waves to earth, so as to limite the amlitud of this overvoltage to a value that is not hazardous for the electrical installation. Very different devices, from both a technological and usage viewpoint, are designated by this term. Low voltage SPDs are modular to be easily installed inside LV switchboards. There are also SPDs adaptable to power sockets, but these devices have a low discharge capacity. SPDs protect telephone networks, switched networks and automatic control networks against overvoltage coming from outside and those internal to the power supply networks. Surges are natural result of any electrical active. The sensitive electronic items have increased the need to control the damaging effect of surges on electrical system. A common surge protector will stop voltage spikes and surges. Direct lightning current is simply too big too big to shield with a little electronic device inside a power strip.
Industrial Surge Protection Devices Market Regional Analysis
Rising demands of vendors and consumers for devices that offer to curb random energy surge of voltage transient and electrical noise on power supply line is presumed to garner radical demands for the industrial surge protection devices in the global market. Geographically, North America is expected to dominate the market with the increasing demand for electronic appliances in both industrial and residential areas with multiple applications. Asia Pacific regions like India and China establishing its industrial base is expected to drive the market with increasing adoption of SPDs for various appliances. Europe will see rapid growth in the market owing to the rising demand for advanced industrial SPDs and growing needs for efficient and improved SPDs. The Middle Eastern and African region is expected to witness further growth owing to the increasing need for safeguard devices for electrical appliances.
Industrial Surge Protection Devices Market Share and Competition
Key companies operating in this industry are: ABB, Schneider Electric, Phoenix Contact, GE Industrial, Emerson, Siemens, Eaton, Rockwell Automation, Leviton, Vertiv, Hager Electric and Bodo Ehmann.
Industrial Surge Protection Devices Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
Application Analysis (Revenue, USD Million, 2022 - 2031)
• Automotive and Transportation
Region Analysis (Revenue, USD Million, 2022 - 2031)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Industrial Surge Protection Devices Market Companies
• Schneider Electric
• Phoenix Contact
• GE Industrial
• Rockwell Automation
• Hager Electric
• Bodo Ehmann
United States Industrial Surge Protection Devices Market Research Report
Europe Industrial Surge Protection Devices Market Research Report
Asia Pacific Industrial Surge Protection Devices Market Research Report
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