October 04, 2022 07:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
Wilmington, Delaware, United States, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -Array of advantages of surge protection devices that makes them key component of electrical installation protection systems used in communication, electrical power supply, and telephone networks fuels the growth of surge protection devices market. Surge protection devices are mainly, the most efficient type of high voltage protection device. This opens enormous opportunities for surge protection device manufacturers to manufacture products for increasing use of electric equipment in home entertainment systems and personal computers. The surge protection devices market size was pegged at US$ 2.9 Bn in 2021.
Rising adoption of electrical equipment that requires stable power supply emphasizes the importance of improving reliability and power quality levels of electric systems. This stokes demand for surge protection devices that can save expensive electronic equipment from being damaged. The availability of types of surge protection devices, for large number of technologically advanced electrical equipment, thus augments the surge protection devices market.
Increasing adoption of electronic equipment in manufacturing, commercial establishments, and residential sector is compelling the need for power-quality protection equipment. Need for surge protection of entire manufacturing facility and individual equipment gathers steam, as transient voltages and surges can impact productivity and profitability. Furthermore, rapid rise in demand for technologically advanced appliances such as LED televisions, personal computers, and printers is catalyzing surge protection devices market growth.
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Surge Protection Devices Market – Key Findings of the Report
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Surge Protection Devices Market – Growth Drivers
Surge Protection Devices Market – Key Players
Some of the key players operating in the surge protection devices market are;
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The surge protection devices market is segmented as follows;
Surge Protection Devices Market, by Type
Surge Protection Devices Market, by Discharge Current
Surge Protection Devices Market, by End –use
Surge Protection Devices Market, by Region
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