Sarasota, FL, Oct. 10, 2016 (GLOBE NEWSWIRE) — Zion Research has published a new report titled “Surge Protection Devices Market (Plug-in devices, Hardwired devices, Line cord devices, and Power Control Center) for Commercial, Residential and Industrial Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. According to the report, the global surge protection devices market was valued at approximately USD 2.10 billion in 2015 and is expected to reach approximately USD 2.87 billion by 2021, growing at a CAGR of around 5.3% between 2016 and 2021.
Power surges are spikes occurred in the electric current due to the sudden interruption of the flow of electricity. It causes an increase in the electrical potential energy which can increase the current flowing back to the electrical device. Surge protection devices are used to protect electronic devices from power surges. It is possible to connect multiple components to plug into a single power outlet due to surge protection devices. It is very beneficial to prevent electrical equipment from getting damaged.
Browse through 30 Market Tables and 17 Figures spread over 110 Pages and in-depth TOC on “Global Surge Protection Devices Market: By Device Type, Applications, End User, Size, Share and Forecast 2015-2021”.
Request free Sample of this Report @ https://www.zionmarketresearch.com/sample/surge-protection-devices-market
The surge protection devices market is expected to witness significant growth due to the increasing usage of electronic devices across the globe. Growing power quality issues in electronic devices due to overuse or large flow of electricity increases the demand for surge protection devices. The major driving factor for surge protection devices market is the benefits offered by these devices like reduction in maintenance costs of electronic equipment. In addition, rising disposable income in emerging economies is expected to have a positive impact on surge protection devices market. Increasing competition in electronic equipment manufacturers decreases the cost of equipment which simultaneously increases the demand for surge protection devices.
Investment in research and development in the renewable energy sector is likely to open new market avenues in the near future. However, these devices are effective only to voltage spikes and surges which may affect the market growth.
On the basis of types, global surge protection devices market is divided into plug-in devices, hard-wired devices, line cord devices and power control center. Line cord devices accounted for largest share of the global market in terms of revenue in 2015. Hard-wired devices were the second largest segment of the global surge protection devices market.
Browse the full “Surge Protection Devices Market (Plug-in devices, Hard wired devices, Line cord devices and Power Control Center) for Commercial, Residential and Industrial Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021” report at https://www.zionmarketresearch.com/report/surge-protection-devices-market
Commercial, residential and industrial applications are the application segments of the surge protection devices market. Industrial application segment dominated the global market and accounted for significant share of the overall market share in 2015.This is primarily owing to growing industrialization in emerging economies.
North America is expected to remain the market leader over the forecast period and recorded USD 801.9 million in 2015 in terms of revenue. The increasing disposable income in the region increases the demand for secure electrical and electronic equipment such as microwave ovens, LED televisions, and washing machines. This is one of the major reasons for the growth of the surge protection devices market. Rapidly growing the electronic market in emerging economies of Japan, China, and India is expected to drive the surge protection devices market in Asia Pacific.
Inquire more about this report @ https://www.zionmarketresearch.com/inquiry/surge-protection-devices-market
Key industry participants include Schneider Electric, ABB Limited, Eaton Corp., Siemens AG, Emerson Electric Co., GE Industrial Solutions, Crompton Greaves Ltd., Advanced Protection Technologies, Raycap Corporation S.A, Belkin International and Phoenix Contact GmbH.
This report segments the global surge protection devices market as follows:
Global Surge Protection Devices Market: Type Segment Analysis
Global Surge Protection Devices Market: Application Segment Analysis
Global Surge Protection Devices Market: Regional Segment Analysis
Purchase a direct copy of report with TOC @ https://www.zionmarketresearch.com/buynow/su/surge-protection-devices-market
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Follow Us LinkedIn: https://www.linkedin.com/company/zion-market-research
Follow Us Twitter: https://twitter.com/zion_research
CONTACT: Contact Us: Joel John 4283, Express Lane, Suite 634-143, Sarasota, Florida 34249, United States Tel: +49-322 210 92714 USA/Canada Toll Free No.1-855-465-4651 Email: email@example.com Website: https://www.zionmarketresearch.com/