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Plug-In Commercial Surge Protection Devices Market Trends

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

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Plug-In Commercial Surge Protection Devices Market Trends

The industry is moving toward integrated solutions that combine surge protection with advanced power management capabilities, providing enhanced protection and monitoring, which in turn will fuel the industry penetration. The incorporation of these devices into energy management systems offers a comprehensive approach to improve energy efficiency and power quality, further strengthening the business growth. Moreover, rising demand for these devices in educational institutions along with growing usage of HVAC systems across small & medium scale establishments will sway the adoption of surge protection devices.

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.