Selected Market Dynamics in Surge Protection Devices Market

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Selected Market Dynamics in Surge Protection Devices Market

October 12
13:06 2019
Selected Market Dynamics in Surge Protection Devices Market

The leading players in the surge protection devices market include Siemens AG (Germany), Eaton (Ireland), Littelfuse, Inc. (U.S.), ABB, Ltd. (Switzerland), and Schneider Electric SE (France).
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 surge protection devices market is expected to grow at a CAGR of 5.47%, from 2017 to 2022, to reach a market size of USD 2,685.9 million by 2022. Growing demand for 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 drivers of the surge protection devices market.

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Ongoing power quality issues

Surge protection devices such as metal oxide varistors and gas discharge tubes are growing in importance, to reduce the losses caused by voltage fluctuations and power line abnormalities. Basically, power quality problems are related to grounding, ground bonds that are neutral to ground voltages, ground loops, ground current, or other ground associated issues. Electrically operated or connected equipment is affected by power quality. Widespread use of sophisticated electrical, electronic communication, and data equipment is driving the importance of power management solutions in both developed and developing economies. Determining the exact problems requires sophisticated electronic test equipment, which enhance the growth of surge protection devices. Proliferation of home appliances, personal computers, heating and air conditioning equipment in residential homes, and installation of high-end industrial electronic equipment in manufacturing plants are driving the growth of surge protection devices market.

Surge protection devices only provide protection from voltage spikes and surges

Surges are a natural result of any electrical activity. The sensitive electronic items have increased the need to control the damaging effects of surges on electrical systems. Since it is impossible to prevent voltage surges from either entering a building or from occurring inside a building, SPDs must divert the effects of these voltage surges or spikes. SPDs remove electrical surges or impulses by acting as a low impedance path that turns the transient voltage into a current and shunts along the return path. Its main purpose is to remove harmful voltage spikes from the electrical system.

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A common surge protector will stop voltage spikes and surges, but not the violent, catastrophic burst of current from a close lightning strike. Direct lightning current is simply too big to shield with a little electronic device inside a power strip. If the surge protectors are in the way of the lightning path, all lightning will just flash over the device, regardless of the amount of capacitors and battery banks involved. Most of the SPDs provide a good degree of defense against a direct voltage strike or surge. They cannot absolutely guarantee against damage to any electronic equipment, and hence, it is a serious restraint for surge protection device deployment.

Browse Related Reports:

Power Quality Equipment Market by Equipment (UPS, Harmonic Filters, Surge Protection Devices, Power Conditioning Unit, Static VAR compensator, and Power Quality Meters), Phase (Single and Three Phase), End-User, and Region – Global Forecast to 2022

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