Adoption of LCD and LED TV’s are Responsible for Growth of Surge Protection Devices Market

640px-Surge_proThe concept of protecting electronic devices from power surges or spikes is known as surge protection. Surge protection devices allow multiple components to plug into a single power outlet. A power surge is a significant increase in voltage above the designated level. If power voltage rises above the standard voltage, it is likely to damage the electronic equipment. For instance, the standard voltage in the U.S. and India are 120 volts and 230 volts respectively, in residential and commercial sectors. A surge protector prevents electrical equipment from getting damaged, when the voltage increases beyond the standard level. The increase in the usage of electrical equipment such as personal computers, printers and industrial control equipment such as PLC’s, microwaves, washing machines and alarms are amplifying the demand for surge protection devices globally.

The global surge protection devices market is expected to witness a substantial growth during the forecast period. This is due to its increasing demand across various application sectors such as industrial, residential and commercial sectors. Increasing incidences of transient voltage and lightning accidents globally is increasing the usage of surge protection devices. If the surge or spike is high, it can cause heavy damage to electrical equipment. Adoption of high technologies equipment such as LCD and LED televisions in the emerging countries are the major factors that are responsible for the growth of surge protection devices market globally. These devices are sensitive and a small fluctuation in the voltage leads to damage of equipment. The rising demand for protection of electronic devices from power surges or spikes is fueling the demand for surge protection devices globally. North America is analyzed to lead the global surge protection devices market throughout the forecast period. However, Asia Pacific is expected to be the fastest growing region in this market due to rapid growth in industrialization.

Importance of Surge Protection Devices:

Geographically, North America led the global surge protection devices market in 2014 and the region is expected to continue its leading position throughout the forecast period. In 2013, this region had seen significant growth in surge protection devices market due to the growth in sales of electrical equipment in the industrial and residential sectors. The surge protection impacts the productivity and profitability by saving the equipment from the internal and external surges. The usage of surge protector in electrical equipment eliminates data loss and reduces the cost of maintenance. These major factors are responsible for the increase in the usage of surge protection devices in North America. Europe and Asia Pacific followed by North America.

The research report further analyzes the competitive scenario of the global market for surge protection devices. Some of the prominent players operating in the global market for surge protection devices are Crompton Greaves Ltd., Legrand S.A., GE Industrial Solutions, Tripp-Lite, Emerson Electric Co., Leviton Manufacturing Co. Inc., ERICO International Corporation, Raycap Corporation S.A., Eaton Corp. PLC., Phoenix Contact GmbH., and Schneider Electric S.E.