The global surge protection devices market is valued at USD 2.06 Billion in 2017, and is expected to grow at a CAGR of 5.47%, from 2017 to 2022. The growing demand for surge protection systems for electronic devices, power quality issues, a rise in alternative energy programs, and cost escalation due to frequent equipment failures are the major factors driving the market of surge protection devices.

The leading players in the 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.

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Objectives of the study:

• To define, describe, and forecast the global market by type, end-user, discharge current, and region
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the market with respect to individual growth trends, future prospects, and contribution of each segment to the market
• To strategically profile key players and comprehensively analyze their market shares and core competencies
• To analyze competitive developments such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the market

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The report segments the market, by type, into hard-wired, plug–in, and line cord surge protection devices. The plug–in SPDs segment is projected to dominate the market of surge protection devices. The growing demand for primary protection of equipment from surges is driving the market for hard-wired surge protection devices.

The report segments the 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. With the increasing use of electronic equipment, the need for protection systems for such critical equipment has been increasing. This is driving the market for surge protection devices in the industrial segment, which is expected to create new revenue pockets for the market during the forecast period.