Commercial Surge Protection Devices Market
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The global commercial surge protection devices market size was valued at USD 1.45 billion in 2023 and is estimated to grow at a CAGR of over 6.2% from 2024 to 2032. Increasing reliance on electronic equipment along with the rising occurrence of power surges owing to grid instability & weather-related disruptions will fuel the industry scenario.
Commercial surge protection devices are crucial devices made to shield electrical devices in companies from voltage spikes and surges. These devices are also valuable in protecting sensitive electronics which include details such as computers, telecommunication equipment, medical devices, and Industrial equipment, from damage as a result of input voltage transients. SPDs work by redirecting excess voltage from the equipment that is being used and safely discharging it, preventing disruption and improving the durability of devices.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Commercial Surge Protection Devices Market size in 2023: | USD 1,459.4 Billion |
| Forecast Period: | 2024-2032 |
| Forecast Period 2023 - 2032 CAGR: | 6.2 |
| 2023 Value Projection: | USD 2,488.8 Million |
| Historical Data for: | 2021-2023 |
| No of Pages: | 140 |
| Tables, Charts & Figures: | 185 |
| Segments Covered: | Product, Technology & Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The market for surge protection devices will be stimulated by the rising usage of smart grids as well as the changing consumer preferences towards protection from electrical shocks. The scope of the market also exhibits that there is a trend of bundled solutions which include surge protection and other power management functions in the same device which enhances power quality and monitoring. Additionally, these devices are beginning to be incorporated into energy control supervisory systems providing a holistic solution focusing on energy efficiency and power quality thus harnessing the potential of the industry.
The line cord commercial surge protection devices will exceed over USD 400 million by 2032. The increasing level of awareness among people regarding the devastating effects of electrical surges along with the high level policies and regulations will boost the uptake of these devices. The integration of these systems into automation and management systems coupled with the increasing realization of the significance of lightning protection will positively influence the business dynamics. This integration allows remote operations and real time monitoring of surge protection which enhances system reliability and creates new avenues for growth in the industry.
The type 2 commercial surge protection devices market size is set to grow at a CAGR of over 5.5% through 2032. These devices protect against medium-level transient over voltages which makes them a necessity in commercial applications where equipment reliability, along with equipment life requirements, are crucial. The limitations are likely to be even more pronounced in cases of central business districts, due to excessive commercial infrastructure development along with proliferation of sensitive electronic systems, like in-house data centers serving telecommunications and health care businesses.
The Asia Pacific commercial surge protection devices market is set to surpass USD 800 million by 2032. Rapid infrastructural development due to rising demand of advanced technology and increased use of sensitive electronic devices will boost the business setting. Besides, the increasing number of smart buildings and the use of renewable energy sources require more advanced surge protection in the region. Furthermore, there will be a significant dynamic in the industry due to government measures aimed at improving the quality and stability of electric power, harsh regulatory requirements.
The U.S. commercial surge protection devices market is growing at a steady rate on account of the usage of modern electronic equipment in almost all industries. These devices prevent damage to the essential electrical components and reduce downtime ensuring uninterrupted process. Older power infrastructure and increase in weather-related power outages also reinforce the need for these units. Furthermore, the penetration of the product is also due to the imposition of stringent regulatory standards by NEMA and OSHA.
Havells is engaged with the manufacture and supply of electrical, power transmission, and distribution equipment. Among its other high quality electrical equipment, the company sits on the high end of the surge protection device market where it has deployed high quality electronic systems that protect circuits against high voltage and transient surge. SPDs comprehensively protect the equipment by transferring voltage overload away from the system therefore averting possible collapse. The company’s Chicago solutions are efficient, durable and have international met safety standards. They can be used in residential, commercial and industrial applications, resulting in seamless operation and improved lifespan of electrical and electronic devices.
The key industry players include:
Market, By Product
Market, By Technology
Market, By Power Rating
The above information has been provided for the following regions and country:
Asia Pacific commercial surge protection devices industry will reach USD 800 million by 2032, owing to rapid urbanization, industrial growth, and increasing investments in infrastructure development.
Some of the leading commercial surge protection devices industry players include ABB, Belkin, Bourns, Inc., CG Power and Industrial Solutions Limited, Eaton, Emerson Electric Co., General Electric, GEYA Electrical Equipment Supply, Havells, Hubbell, Infineon Technologies AG, Intermatic Incorporated, JMV, Legrand, Leviton Manufacturing Co., Inc., Littelfuse, Inc., among others.
The market size of commercial surge protection devices was worth over USD 1.45 billion in 2023 and will record a 6.2% CAGR between 2024 and 2032, propelled by increasing reliance on sensitive electronic equipment and the growing threat of power surges and electrical faults.
The line cord commercial surge protection devices segment will surpass USD 400 million by 2032, due to their ease of installation, portability, and cost-effectiveness.