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Market Leaders: Surge Protection Devices Market
The global power surge protection device market is likely to witness a growth of 5.3% from 2014 to 2019. In terms of market size, the U.S. represented the largest market in 2013, by value, followed by China in the same year. The growth of power surge protection devices is influenced by rise in renewable energy programs, growing demand of electronic appliances, high-cost due to equipment downtime, and various power quality issues in regions such as North America, Europe, and Asia-Pacific.
Recent developments in the surge protection device market are very encouraging, where many companies are introducing new products and services as their key strategies to capture the market. The power surge protection device market has also seen many new contracts in past three years among the top players.
The market includes few major players and small regional players. Some of the key players operating in the market include ABB Limited (Switzerland), Eaton Corporation (Ireland), Emerson Electric Corporation (U.S.), Siemens AG (Germany), Schneider Electric SA (France), Belkin International (U.S.), Advanced Protection Technologies (U.S.), Crompton Greaves (India), General Electric (U.S.), Leviton Manufacturing (U.S.), Littlefuse (U.S.), and Tripplite (U.S.). ABB Limited, Siemens Inc., and Schneider Electric are the three market leaders for power surge protection devices. These players cover approximately 60% of the global power surge protection device market.
ABB Ltd is global market leader in the field of power and automation technologies. The company acquired Thomas and Betts (U.S.) in May 2012, which was the market leader in low voltage surge protection products in the North America region. ABB Limited has focused on contracts and agreements as one of its key growth strategies. Its contract with Istroenergo Group (Slovakia) has ensured that is has a stronger hold in European market. It has also received a contract from Saudi Electricity Company (Saudi Arabia) for supply of low voltage surge arresters, medium voltage power surge protection devices, gas-insulated switchgear, transformers, protection equipment, and automation systems. These contracts would expand its global reach in the power surge protection device market.
Siemens provides a complete portfolio of surge arrestors, which include combination surge arrestors, lightning arrestors, surge arrestors for measuring and control technology, high voltage station arrestor, medium-voltage arresters for distribution networks, and line arrestors. It operates in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Siemens Inc. has focused on new product launch as one of its growth strategies. Recently, in 2013 the company added five new devices to its overvoltage protection portfolio to enhance its product line.
Surge Protection Devices Market by device Type from 1 to 5, End User (Industrial, Commercial and Residential), & by Region (North and South Americas, Asia-Pacific, Europe, Middle East & Africa) - Global Forecast and Trends to 2019
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