Industrial Surge Protection Devices Market
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The global industrial surge protection devices market size was valued at USD 864.7 million in 2023 and is estimated to grow at a rate of 6.3% till 2032. The growing dependence on electronic equipment combined with the increasing frequency of power surges owing to grid instability and weather-related disruptions will drive the industry growth. For instance, in 2023, Europe continues to be the leading global investor in automotive innovation.
Industrial surge protectors are designed to protect electrical and electronic equipment from extreme voltage transients caused by lightning, power surges and switching events. These devices work by redirecting excessive voltage away from sensitive equipment and consequently preventing damage and downtime as well as safety issues. In an industrial environment, in which the reliability of electrical systems is crucial, it is vital for safeguarding expensive machinery such as electric motors, transformers and control systems.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Industrial Surge Protection Devices Market size in 2023: | USD 864.7 Million |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2023 - 2032 CAGR: | 6.3 |
| 2023 Value Projection: | USD 1.48 Billion |
| Historical Data for: | 2021-2023 |
| No of Pages: | 150 |
| Tables, Charts & Figures: | 45 |
| Segments Covered: | Power Rating, Product, Technology & Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The increasing adoption of smart grids along with a growing emphasis on protecting against electrical disturbances is set to drive the industry potential. The industry is experiencing a trend toward integrated solutions that combine surge protection with other energy management functions offering full protection and monitoring capabilities. In addition, these devices are gradually being incorporated into energy management systems, creating a comprehensive view on energy efficiency and quality of power thus augmenting the market for surge protection devices.
The type 1 industrial surge protection devices to cross USD 700 million by 2032. Increasing need to protect industrial equipment from voltage spikes and electrical surges will positively impact the business landscape. These devices are essential for safeguarding critical infrastructure in industrial settings, where power surges can lead to costly downtime, equipment damage, and safety hazards. Rising adoption of automation in line with the ongoing expansion of industrial IoT systems will fuel the product penetration.
The > 50 KA to 100 KA industrial surge protection devices market size will witness growth rate of over 5% up to 2032. These industrial surge protection devices are used to protect electrical systems in some important industries like energy, telecommunications and manufacturing where sometimes machines or electrical equipment can malfunction and lead to loss. Furthermore, the awareness of the cost savings in the industry in the long run that surge damage prevention can lead to is set to expand the market scope as industries will start investing in higher rated surge protection devices.
The Asia Pacific industrial surge protection devices market to surpass USD 550 million by 2032. Coupled with the increasing penetration of advanced technologies across a wide gamut of industries, rapid industrial and urban growth which will fuel business expansion. Meanwhile, the growing trend towards energy efficiency and safety standards, as well as government policies encouraging surge protection devices use in critical industries, will continue to help to shape the industry.
The U.S. industrial surge protection devices market is set to flourish in the future due to strict regulations and laws especially towards operational safety. Weather changes often lead to power breakage making it vital to have a robust surge protection device that can withstand voltage spikes. These switches help protect electrical systems from power overloads and short circuits. Sensitive electronic equipment on sites combined with infrastructure development is paving the way for significant expansion of this industry in the future.
Mercen develops powerful surge protection devices for commercial, industrial and residential equipment. These devices possess high durability as well as performance as they use cutting edge technologies to disperse and contain the excess energy which is the direct fallout of a lightning strike or other electrical disturbances. Advancement in these products will help industries maintain stable power supply and reduce operational disruptions Their wide variety of solutions range from AC protection to DC protection to ensure that electrical equipment remains functional ensuring optimum reliability.
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:
Emerson Electric Co, General Electric, Havells, Hubbell, Legrand, Leviton Manufacturing Co., Inc., Maxivolt among others.
Asia Pacific industrial surge protection devices market is set to surpass USD 550 million by 2032, driven by rapid industrialization and urbanization coupled with increasing adoption of advanced technologies.
The type 1 industrial surge protection devices segment will cross over USD 700 million by 2032, driven by the increasing need to protect industrial equipment from voltage spikes and electrical surges.
The market size of industrial surge protection devices was worth over USD 864.7 million in 2023 and is estimated to grow at a CAGR of over 6.3% during 2024 to 2032, driven by the growing dependence on electronic equipment.