Global Surge Protection Device System Market to reach USD 3.6 billion by 2027
Global Surge Protection Device System Market is valued at approximately USD 2.5 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.5 % over the forecast period 2021-2027. A surge protection device is an appliance or device intended to protect electrical devices from voltage spikes in altering current circuits. SPD is designed to limit transient overvoltage of atmospheric origin and divert current waves earth, so as to limit amplitude of this overvoltage to a value that is not hazardous for the electrical installation and electric switchgear and controlgear. Growing demand for protection systems for electronic devices to fuel the Surge Protection Device System Market. Ongoing power quality issues are also propelling the market growth.

However, additional cost of installation may impede market growth over the forecast period of 2021-2027.

The regional analysis of the global Surge Protection Device System Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World (ROW). Asia-Pacific is expected to be the fastest growing market in the forecast period, especially in China and Japan, due to on-going initiatives towards clean energy on a large scale in order to meets its growing energy needs in an efficient way. India, China and Singapore are some potential growing markets in power utilities sector. Also,
Increasing investments for modernizing and urbanizing populations, majorly in developing economies such as China and India, is estimated to drive the Asia Pacific surge protection device market.

Major market player included in this report are:

ABB
Siemens AG
Schneider electric
Emerson
Eaton
Littelfuse
Belkin International
Tripp Lite
Panamax
Hubbell Incorporated

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Hard-Wired
Plug-In
Line Cord

By Discharge Current:
Below 10 kA
10 kA-25 kA
above 25 kA

By End-User:
Industrial
Commercial
Residential
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2017, 2018-19
Base year - 2019-2020
Forecast period - 2021 to 2027.

Target Audience of the Global Surge Protection Device System Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors