Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Surge Protection Device (SPD) is a component of the electrical installation protection system. SPD is normally designed to restrict transient over voltages of atmospheric origin and to divert current waves to the earth in order to limit the overvoltage amplitude to a value that is not dangerous to the electrical installation, electrical switchgear and control gear. The device is connected in parallel on the power supply circuit of the loads which is to be protected. The SPD has its major importance to prevent voltage spikes and surges. Industrial applications include various types of equipment that need to be protected from the effects of surges as they are costly to company owner. As the price may be enormous and the failure of those devices would incur a major financial loss, possibly putting the very existence of the company at stake therefore surge protection device plays an important role in industrial sectors which driving the growth of global surge protection device market .The main differentiation between residential and industrial surge protection applications is robustness of the materials from which the devices are constructed or the sensitivity of the device.
Ongoing Power Quality Issues is major driver for the growth of surge protection devices market as the need for power-quality safety equipment is becoming important as the use of electronic equipment is growing in manufacturing facilities, businesses, and the residential sector. The growing use of electrical equipment and the increasing demand for power supply stability by utility customers have stressed the importance of improving the reliability and power quality levels of electrical systems. Besides, rise in alternative energy programs due to rapid depletion of fossil fuels became the major reason for increased use of renewable energy. It provides a more diversified and balanced pool of energy sources is propelling the growth of market. Moreover, frequent equipment failures due to voltage spikes lead to cost escalations as increased use of sensitive electrical and especially electronic devices and system has increase in failure rates due to dangerous induced voltages hence these surge protective device (spd) are used to protect the electrical and electronic equipment from damage by power surges.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the surge protection devices market. In addition, complete analysis of changes on the surge protection devices market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on surge protection devices market was moderate as the pandemic and lockdown had the major population to stay indoor which has fueled the market growth in some extent for production and supply of surge protection devices.
The surge protection devices market is segmented based on by type, by discharge current, by end user and by geography.
The surge protection devices are available in different types including hard-wired, plug-in and line cord. Lind Cord is anticipated to hold the significant share among the products as the line cord is temporarily connects an appliance to the mains electricity supply via a wall socket or extension cord. Cord set are detachable from both the power supply and the electrical equipment, and consist of a flexible cord with electrical connectors at either end.
The surge protection devices are present in market according to different discharge current like below 10 ka, 10 ka–25 ka, above 25 ka. The above 25ka discharge current is getting major attention owing to industrial high voltage equipment operation and machinery. An appropriate power rating for a particular application and location provides the necessary protection and secures cost benefits for users. Hence above 25ka discharge current is presumed to emerge as the fastest growing segment over the forecast period.
The surge protection devices has its end use in different sectors including commercial, residential and industrial which is further bifurcated into agriculture, logistics & automotive, medical , oil& gas, power , pulp & paper, telecommunication, transportation. Residential has the highest rate of growth by end user owing to increasing adoption and demand for SPD in appliances such air conditioning systems, room heater, televisions, computers, and kitchen appliances. Besides increasing use of electronic devices such as personal laptops, printers, microwave devices, washing machines is fueling the growth of market. The rising demand for advanced surge protected products with improved performance & high efficiency of SPDs are expected to drive the growth of the market.
Geographically the global surge protection devices market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America leads in the global surge protection devices market due to increasing electronics appliances demand in industrial and residential areas. On the other hand Asia Pacific is anticipated to witness the fastest growth in the region owing to highest potential gains for foreign direct investment, and capital investment. The region is operating towards clean energy on a large scale in order to meet its growing energy needs in an efficient way which is further fueling the growth of global surge protection devices market. Moreover, India, China are the major potential growing market in power and utilities sector. The surge protection system market in the region is expected to be driven by increasing investments in modernizing infrastructure and urbanizing populations, especially in developing economies.
The key players in surge protection devices market are ABB Ltd., Advanced Protection Technologies, Inc., Belkin International, Citel, Inc., Eaton Corporation, Plc., Emersen Electric Co., General Electric Company, Hubbell Incorporated, ISG Global, JMV, Koninklijke Philips N.V., Legrand Sa, Leviton Manufacturing Company, Inc., Littelfuse, Inc., MCG Surge Protection, Mersen Electrical Power, Mvc-Maxivolt, Panamax, Pentair Electrical & Fastening Solutions, Phoenix Contact Gmbh, Raycap Corporation S.A., Rev Ritter Gmbh, Schneider Electric Se, Siemens AG and Tripp Lite among others.
July 2020: Huntkey had launched its new surge protector the SMC127C, which is designed with a USB Type-C (or USB-C) charging port, it is also equipped with twelve AC sockets and one USB-A port to provide different charging methods. The SMC127C is paired with a 6 foot heavy duty extension cord, and two keyhole mounting slots are designed on its back for convenient use. To ensure its high safety and quality, its housing and the cord are made from fire-prevention materials.
September 2018: Transtector had launched AC Surge Protection Devices that are optimized for ul type 1 and type 2 standards. Versatility and reliability are the keys to the I2R-Series line. Transtector offers configurations for all standard electrical service applications up to 690 Vac, including single phase, split phase, delta and three-phase WYE.
The report analyses the global surge protection devices market based on by type, by discharge current, by end user and by geography. The surge protection devices are available in different types including hard-wired, plug-in and line cord. These devices are present in market according to different discharge current like below 10 ka, 10 ka–25 ka, above 25 ka. The surge protection devices has its end use in different sectors including commercial, residential and industrial. Geographically the global surge protection devices market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW)
The key players in surge protection devices market are ABB Ltd., Advanced Protection Technologies, Inc., Belkin International, Citel, Inc., Eaton Corporation, Plc., Emersen Electric Co., General Electric Company, Hubbell Incorporated, ISG Global, JMV, Koninklijke Philips N.V., Legrand Sa, Leviton Manufacturing Company, Inc., Littelfuse, Inc., MCG Surge Protection, Mersen Electrical Power, Mvc-Maxivolt, Panamax, Pentair Electrical & Fastening Solutions, Phoenix Contact Gmbh, Raycap Corporation S.A., Rev Ritter Gmbh, Schneider Electric Se, Siemens AG and Tripp Lite among others.
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