Energy and Power Surge Protection Devices Market | Page 2

With regard to the type segment, hard-wired SPDs are expected to constitute the fastest growing
market from 2017 to 2022. These are designed to be installed in places where the risk of a direct
lightning strike is high, especially when the building is equipped with an external lightning
protection system. Hard-wired SPDs are used as primary protection devices for locations prone to
maximum risk, such as main distribution boards, power control centers, and outdoor distribution
boards. The growing demand for primary protection of equipment from surges is driving the
market for hard-wired surge protection devices.
Europe: The leading market for surge protection devices
In this report, the surge protection devices market has been analyzed with respect to five regions,
namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The
European market is expected to dominate the global surge protection devices market with a
number of European countries investing in various protection systems for urbanized
infrastructure development. Industry 4.0 is a European strategic initiative to digitally transform
the industrial, IT, and manufacturing industries. Intelligent ICT-based machines, systems, and
networks, capable of independently exchanging and responding to information to manage
industrial production processes, are being implemented for production efficiency. There is an
increasing trend of manufacturing facilities shifting their operations to low production areas such
as Eastern Europe. Manufacturing, along with construction, mining, and quarrying, in Eastern
Europe, is on the rise, making Europe a lucrative market for surge protection devices.
Surge arresters: Additional market
In this report, the surge arresters market has been segmented, on the basis of type, into station
class, intermediate class, and distribution class, and on the basis of voltage into low and medium
voltage, high voltage, and extra high voltage surge arresters. The market has also been
segmented, on the basis of region, into North America, Europe, Asia-Pacific, South America, and
the Middle East & Africa. The market for surge arresters is expected to grow from an estimated
USD 1.49 billion in 2017 to USD 1.91 billion by 2022, at a CAGR of 5.11%, from 2017 to 2022.
To enable an in-depth understanding of the competitive landscape, the report includes the
profiles of some of the top players in the surge protection devices market. T hese players include
Siemens AG (Germany), Eaton Corporation, Plc. (Ireland), Littelfuse, Inc. (U.S.), ABB, Ltd.
(Switzerland), and Schneider Electric SE (France). The leading players are trying to make inroads
in the markets in developed economies, and are adopting various strategies to increase their
market shares.
About MarketsandMarkets