Surge Protection Device Market in the Americas 2015-2019
About Surge Protection Devices
A surge protector is a device that is designed to protect electrical and electronic devices from over-voltage spikes. If any unwanted voltage, which is above the threshold level, is present in the circuit, the surge protector either blocks the high voltage spike or shorts it to the ground. Surge protectors are mostly installed in power distribution panels, communication systems, process control systems, and other heavy-duty industrial systems so that all electrical or electronic devices are safeguarded from electrical surges and spikes, especially the ones caused by lightning. Compact versions of the same are installed in the service entrance electrical panel of a residential house to protect all electrical and electronic devices used inside.
TechNavio's analysts forecast the Surge Protection Devices market in North America to grow at a CAGR of 5.95 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Surge Protection Devices market in North America during the period 2015-2019. For ascertaining the market size and vendor share, the report considers the revenue obtained from the sales of Surge Protection Devices services and products.
TechNavio's report, Surge Protection Devices Market in North America 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Surge Protection Devices market landscape in North America and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Surge Protection Device Market in the Americas 2015-2019
TechNavio recognizes the following companies as the key players in the Surge Protection Device Market in the Americas: Belkin Inc., Eaton Corp., Emerson Electric Co., GE Industrial Solutions Ltd., Leviton Manufacturing Inc., Philips Corp., Schneider Electric SE and Tripp Lite Corp.
Other Prominent Vendors in the market are: Monster Cable Products, Prime Wire and Cables and Protection Technology Group.
Commenting on the report, an analyst from TechNavio’s team said: “The growth of the renewable energy sector is one of the major trends emerging in the market. Solar PV panels and wind turbines are highly susceptible to lightning strikes which have led to the usage of surge protection devices for the protection of these types of equipment.”
According to the report, one of the major growth drivers of this market is the demand for electronic devices. The Americas is perhaps the most developed region in the world, especially North America and, therefore, people have the financial power to use all possible electrical and electronic devices. It is necessary to protect these devices from over-voltage spikes and hence there is a demand for surge protection devices.
Further, the report states thattThe lack of complete power quality solutions affects the market potential negatively. Vendors are still unable to provide their customers with a complete solution that protects devices from all kinds of electrical spikes. This is a major challenge for the market.
Belkin , Eaton, Emerson Electric, GE Industrial Solutions, Leviton Manufacturing, Philips , Schneider Electric, Tripp Lite , Monster Cable Products, Prime Wire and Cables, Protection Technology Group
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