Home > Energy & Power > Electrical Equipment > Surge Protection Devices > Plug-In Commercial Surge Protection Devices Market

Plug-In Commercial Surge Protection Devices Market Size

Report ID: GMI11667
Published Date: Oct 2024
Report Format: PDF

Download Free Sample

Plug-In Commercial Surge Protection Devices Market Size

The global plug-in commercial surge protection devices market was valued at USD 593.2 million in 2023 and is estimated to grow at a CAGR of 6.3% from 2024 to 2032. Increasing need to protect sensitive electrical systems in facilities in line with rising concerns over equipment downtime, data loss and the fiscal impact of electrical surges will energize the business dynamics. Growing installation of SPDs in data centers and IT infrastructure coupled with rapid adoption of smart technologies in buildings will complement the industry outlook.

To get key market trends

Download Free Sample

A plug-in commercial surge protection device is an electrical safety equipment designed to protect commercial-grade electrical systems and equipment from voltage surges or spikes. The rising focus on energy efficiency along with the deployment of eco-friendly SPDs that consume minimal power will drive the industry growth. Additionally, the increasing frequency of power outages owing to aging grids, unstable electricity supplies, and frequent lightning storms will boost the adoption of commercial surge protection devices.

Plug-In Commercial Surge Protection Devices Market Report Attributes
Report Attribute	Details
Base Year:	2023
Plug-In Commercial Surge Protection Devices Market Size in 2023:	USD 593.2 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.3%
2032 Value Projection:	USD 1 Billion
Historical Data for:	2021 - 2023
No. of Pages:	125
Tables, Charts & Figures:	40
Segments covered:	Technology, Power Rating & Region
Growth Drivers:	Robust development of data centers Increasing proportion of renewable energy sources Escalating demand for reliable & continuous electricity
Pitfalls & Challenges:	High initial cost

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Saurabh Singh

Frequently Asked Questions (FAQ) :

In 2023, the market for plug-in commercial surge protection devices surpassed USD 593.2 million and is projected to witness about 6.3% CAGR from 2024 to 2032, primarily fueled by the rising share of renewable energy sources.

The market for Type 1 plug-in commercial surge protection devices is anticipated to exceed USD 500 million by 2032, attributed to the growing demand for all-encompassing protection devices.

The market for plug-in commercial surge protection devices with power ratings exceeding 150 kA is projected to grow at a CAGR of over 6% through 2032, driven by the rising adoption of advanced technological systems, which come with higher surge current ratings, ensuring protection against electrical disturbances.

The U.S. market for plug-in commercial surge protection devices is poised to exceed USD 125 million by 2032. This growth is underpinned by the nation's escalating need to protect vital infrastructure and electronics from electrical surges.

Prominent companies in the plug-in commercial surge protection devices market include ABB, Belkin, Eaton, Emerson Electric, General Electric, Havells, Hubbell, Infineon Technologies, JMV, Legrand, Leviton, Maxivolt, Philips, Phoenix Contact, Schneider Electric, Socomec, Weidmuller, Wenzhou Arrester Electric.