Surge Protection Devices Market Share

On the basis of geographical analysis, the global surge protection devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific industry is likely to dominate majority revenue share by 2036, propelled by increasing emphasis on using clean energy to meet the energy needs, especially in China, Singapore and India. In addition, rapidly growing urbanization, and rising investments in smart grid technologies and smart cities are also projected to boost the market growth of the region in the future. According to the World Bank, 60.695 percent of East Asia and Pacific’s total population lived in urban areas in 2020, up from 59.887 percent and 59.052 percent in the years 2019 and 2018 respectively.

in North America is anticipated to occupy the largest share during the forecast period owing to the early adoption of advanced technologies, and high electricity consumption in commercial and residential sectors in the region.