Surge Protection Devices Market Synopsis:The rising demand in the power sector has generated demand for technological innovations in power infrastructure.
This, in turn, is presumed to pave the way for the installation of surge protection devices on the global front over the next couple of years.
The existing systems for combating loads in industries require high maintenance costs while exhibiting low efficiency.
It is expected to lead the growthRegional Analysis:The geographical analysis of the global surge protection devices market spans across Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW).
Increasing installation of the product in buildings to provide protection against lightning strikes is poised to amplify the growth rate of the segment over the next couple of years.On the basis of voltage, the surge protection devices market has been divided into high voltage and low voltage.
Competitive Dashboard:Schneider Electric SE (France), Mitsubishi Electric Corporation (Japan), ABB Ltd. (Switzerland), Alstom SA (France), Toshiba (Japan), Siemens AG (Germany), Larsen & Turbo (India), Hitachi (Japan), Hyundai heavy industries (South Korea), Fuji Electric (Japan), Xian XD (China), Nissin Electric (Japan), Hyosung (China), Eaton (Ireland), Bharat Heavy Electric Ltd. (India), and Meidensha (Japan) are few of the major participants of the surge protection devices market.