Transparency
Market Research (TMR) has published a new research report on the
global surge protection devices market. The report, titled “Surge
Protection Devices Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2014 - 2020”, states that the market
was worth US$1,890.5 million in 2013 and will reach US$2,808.6
million by 2020, expanding at a CAGR of 5.6% from 2014 to 2020.
According
to the report, increasing utilization of highly advanced appliances
such as personal computers and LED televisions requires supporting
equipment to prevent damage due to voltage fluctuations or power
outages. Hence, demand for power surge protection devices is surging
to protect electronic devices from the effects of unforeseen voltage
swings.Increasing demand for surge protection devices across various
sectors such as residential, commercial, and industrial is
anticipated to result in substantial growth of the surge protection
devices market in the near future. Globally, the increasing incidence
of transient voltage and lightning accidents is leading to increasing
usage of surge protection devices. High power surges can cause
enormous damage to electrical appliances.
Browse
the full Surge Protection Devices Market Report at
http://www.transparencymarketresearch.com/surge-protection-devices-market.html
Worldwide,
rising disposable incomes are leading to increased usage of
electrical equipment such as personal computers, microwaves,
refrigerators, and washing machines, which is amplifying the demand
for surge protection devices, adds the report.Line cord devices
contributed the largest market revenue, amounting to US$650.3 million
in 2014. However, the hard wired devices segment will exhibit a
faster growth rate than other segments, as it can protect against
transients that occur through utility power lines. Hard wired devices
are capable of preventing transients that originate from electrical
circuits and also prevent damage to other circuits attached to it.In
2014, the industrial application segment dominated the surge
protection devices market, accounting for US$763.2 million. Rapid
industrialization, mainly in the Asia Pacific and Rest of the World
regions, is responsible for the dominance of this application
segment. The increasing usage of automated processes for both
manufacturing and processing is fueling demand for surge protection
devices in industrial machinery.
However,
the commercial sector is anticipated to exhibit the fastest growth of
all application segments of the surge protection devices market. The
commercial sector will register growth at a CAGR of 6.3% from 2014 to
2020. By geography, in 2014, North America dominated the global surge
protection devices market, accounting for US$801.9 million. Although
the region will exhibit the lowest growth rate of all geographical
segments in the forecast period, it is expected to maintain dominance
through 2020.The report further adds that Asia Pacific is anticipated
to witness the fastest growth rate in the forecast period. The region
is expected to display growth at a CAGR of 6.4% from 2014 to 2020.
This is attributed to growing demand for sophisticated electrical
equipment such as LED televisions, microwave ovens, and washing
machines, among others, in developing countries such as India,
Indonesia, and China.Europe and Asia Pacific together account for
almost half of the revenue in the global surge protection devices
market.
Browse
the full Press Release :
http://www.transparencymarketresearch.com/pressrelease/surge-protection-devices-market.htm
The
global surge protection devices market is segmented into:
Global
Surge Protection Devices Market: By type
Plug-in
devices
Hard
wired devices
Line
cord devices
Power
control center
Global
Surge Protection Devices Market: By application
Commercial
Residential
Industrial
Global
Surge Protection Devices Market: By geography
North
America
Europe
Asia
Pacific
Rest
of the World
Request
a Sample of this Report :
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2939
About
Us
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants
use proprietary data sources and various tools and techniques to
gather and analyze information.
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research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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