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Industrial Surge Protection Devices Market Trends

Report ID: GMI11188
Published Date: Sep 2024
Report Format: PDF

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Industrial Surge Protection Devices Market Trends

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. Additionally, these devices are increasingly being integrated into energy management systems, delivering a holistic approach to energy efficiency and power quality, thereby enhancing the surge protection devices market.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

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.

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.

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.

Emerson Electric Co, General Electric, Havells, Hubbell, Legrand, Leviton Manufacturing Co., Inc., Maxivolt among others.