The report segments the surge protection devices market, by end user, into industrial, residential and commercial. The industrial segment is expected to grow at the fastest rate during the forecast period. The Industry 4.0 initiative is being applied to vehicles and electrical machinery in order to facilitate remote diagnostics, remote maintenance, and remote data capture. Such initiatives have increased the need for datacenters, servers, and communication systems.
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Surge arrester market is projected to grow from an estimated USD 1.56 billion in 2018 to USD 2.01billion by 2023, at a CAGR of 5.11%, from 2018 to 2023. Investments in smart grids and energy systems, need to reduce equipment failure caused by frequent voltage spikes, and aging power infrastructure are driving surge arrester market across world.
Counterfeiting of products by local players could hinder market growth to a certain extent.
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1 Attractive Opportunities in the Surge Arrester Market During the Forecast Period
2 Surge Arrester Market, By Country
3 Europe Surge Arrester Market, By End-User & Country
4 Surge Arrester Market, By Type
5 Surge Arrester Market, By Class
6 Surge Arrester Market, By Voltage
In this report, 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 global surge protection devices market during the forecast period.
Industry 4.0 is a European strategic initiative to digitally transform the industrial, IT, and manufacturing industries.
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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 target audience of this report includes:
- Surge protection device manufacturers, dealers, and suppliers
- Consulting companies in the energy and power sector
- Government and research organizations
- Investors and shareholders
- Environmental research institutes
- Process industries and power and energy associations
- Surge protectors components manufacturers
- Manufacturing industry
- Energy efficiency consultants
The leading players in the surge protection devices market include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), and Emerson Electric Company (U.S.).
New product developments was the strategy most commonly adopted by the top players, constituting 87% of the total developments from 2013 to 2016. It was followed by mergers & acquisitions, contracts & agreements, and awards and recognitions.
Connect for More Details for More Information “Surge Arrester Market by Type (Polymeric, Porcelain), Voltage (Medium, High, Extra-High), Class (Distribution, Intermediate, Station), End-User (Utilities, Industries, Transportation), and Region - Global Forecast to 2023” report at www.rnrmarketresearch.com/contacts…unt?rname=1452489 .
The report provides a picture of the surge arrester market across the power industry and regions. It aims at estimating the market size and future growth potential of the market across different segments such as voltage, class, end-user, type, and region.
Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
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