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Commercial Surge Protection Devices Market Trends

Report ID: GMI10661
Published Date: Aug 2024
Report Format: PDF

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Commercial Surge Protection Devices Market Trends

Growing adoption of smart grids coupled with shifting consumer focus toward the protection against electrical disturbances will drive the surge protection devices market. The industry is witnessing a shift towards integrated solutions that combine surge protection with other power management functions, offering comprehensive protection and monitoring capabilities. Moreover, these devices are gradually being integrated into energy management systems, providing a complete approach to energy efficiency and power quality, accelerating the industry potential.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

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.

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.