The surge protection market is set to experience global growth throughout the remainder of the decade, with the European market in particular predicted to see an “upsurge” according to a report from Research and Markets.
In a recent addition to its library of market research, the organisation revealed that the American market for surge protection and related products has seen the fastest rate of expansion in recent years.
However, the global picture is positive, as Europe and the Asia Pacific region are both forecasted to see strong increases in shipments between 2015 and 2021.
Industrial demand is one of the driving forces behind this, but increasing installations of surge protection devices in other markets, including data centres and medical uses, are also driving the market higher.
“A power surge is a significant increase in voltage above the designated level,” the report notes. “If power voltage rises above the standard voltage, it is likely to damage the electronic equipment.
“The increase in the usage of electrical equipment such as personal computers, microwaves, washing machines and alarms are amplifying the demand for surge protection devices globally.”