Plug-In Industrial Surge Protection Devices Market Size – By Technology, By Power Rating, Analysis, Share, Growth Forecast, 2024 – 2032

Plug-In Industrial Surge Protection Devices Market Size

The global plug-in industrial surge protection devices market was valued at USD 350.7 million in 2023 and is estimated to grow at a CAGR of 6.4% from 2024 to 2032.
 

The rising demand to safeguard sensitive electrical systems in tandem with growing concerns over equipment downtime, and data loss of electrical surges will boost the business growth. Increasing installations of these devices in data centers and IT infrastructure in conjunction with rapid adoption of smart technologies in buildings will elevate the industry landscape. For instance, in 2022, the U.S. launched the Grid Resilience Innovative Partnership Program, setting aside more than USD 10 billion to strengthen and extend the infrastructure of the national electric grid with a focus on enhancing resilience and capacity.

Plug-in industrial surge protection devices are protective units designed to shield industrial equipment from voltage spikes or transient surges in electrical systems. These devices are directly fitted into electricity sockets or dedicated panels which avoid sensitive equipment getting damaged and operations being impacted or expensive outages occurring as a result of unforeseen drastic increases in power. The ongoing positioning of such assets in the strategic locations especially in industrial plants, data centers, and other large scale industries will encourage the business scenario. Furthermore, the increased reliance on electrical devices together with the growing incidences of power outages attributed to grid failure will bolster the demand for industrial surge protection devices.
 

Plug-In Industrial Surge Protection Devices Market Trends

The industry is poised for robust growth owing to the value-added solutions that combine both surge protection and multi-functional energy management systems for effective protection and monitoring. Continually investment towards expansion of the reliable and efficient protection devices along with increasing implementation of modern automated system, robotics, and digital control will promote the industry outlook. Moreover, rising installation of smart grids and growing concern for protection from electric fluctuations will positively influence the demand for surge protection devices.
 

Plug-In Industrial Surge Protection Devices Market Analysis

The type 1 plug-in industrial surge protection devices industry will exceed USD 280 million by 2032. The growing demand for comprehensive protection devices coupled with the need for enhanced voltage clamping and faster response times will propel the product penetration. The expanding need for intelligent buildings and IoT-assisted automation in conjunction with the ever-tightening safety codes and standards will continue to propel the growth of the industry. Furthermore, these devices are equipped with enhanced features including digital displays for real-time monitoring, remote notifications for surge events, and built-in diagnostics to assess device performance will proliferate the business scenario.
 

The > 150 kA power rated plug-in industrial surge protection devices market size will experience significant growth at a CAGR of over 6% by 2032. These rated SPDs are important for the protection of electrical systems for industries, which include energy, manufacturing, and sedentary telecommunications owing to their downtimes caused by electrical failures are incredibly costly. Moreover, the sharpening emphasis on energy efficiency and power quality in conjunction with the growth of renewable energy sources and distributed power systems will spur the business dynamics.
 

The U.S. plug-in industrial surge protection devices market are set to reach over USD 110 million by 2032. Strict regulatory mandates and surging focus on operational safety coupled with ongoing investment in infrastructure modernization & rising industrial automation will foster the product adoption. The proliferation of advanced technologies and the widespread utilization of sensitive electronic equipment in line with heightened risk of extreme weather events will accelerate the business growth. Furthermore, the growing need for these devices to safeguard central equipment and guarantee unbroken functionality will escalate the business penetration.
 

Asia Pacific plug-in industrial surge protection devices market will anticipate substantial growth owing to rapid industrialization and urbanization. Growing emphasis on energy efficiency and safety standards in tandem with government initiatives to promote the use of surge protection devices in critical sectors comprising of manufacturing and construction industries will further enhance the business outlook. Furthermore, increasing focus on reducing operational downtime combined with surging expansion of renewable energy projects in key geographies will complement the industry trends.
 

Plug-In Industrial Surge Protection Devices Market Share

The market is highly competitive driven by rapid technological advancements, regulatory compliance needs, and diverse industrial applications. Key players such as Legrand, Siemens, ABB, and Eaton engage in the competition on innovation through the introduction of SPDs with faster response times, enhanced durability, and IoT integration for predictive maintenance that is needed in data-driven and automated environments. Meeting certain minimum standards such as IEC 61643 and UL 1449 serves as a marketing advantage, as industrial customers are increasingly seeking dependable and powerful SPDs that comply with international standards.
 

Plug-In Industrial Surge Protection Devices Market Companies

Major players operating in the plug-in industrial surge protection devices industry are:

• ABB
• Belkin
• Eaton
• Emerson Electric
• General Electric
• Havells
• Honeywell International
• Hubbell
• Infineon Technologies
• JMV
• Legrand
• Leviton
• Philips
• Phoenix Contact
• Raycap
• Schneider Electric
• Siemens
• Socomec
• Weidmuller
• Wenzhou Arrester Electric
   

Plug-In Industrial Surge Protection Devices Industry News

• In May 2024, Phoenix Contact strategically strengthened its North American presence by establishing Phoenix Contact Production S.A. de C.V. in Mexico. This top-notch facility is expected to facilitate an investment of about USD 55 million and covers an area of 20,000 square meters. Furthermore, with an estimated increase in the local economy, the facility will create around 700 jobs by 2032, which in turn will strengthen the company’s manufacturing capabilities.
   
• In February 2024, ABB acquired SEAM Group, expanding its electrification portfolio in renewable energy, electrical safety, and asset management advisory services. This acquisition complements the growing marketplace for asset modernization and optimization. Following this acquisition, ABB can provide clients with more efficient, safe and sustainable operational solutions around the world.
   

The plug-in industrial surge protection devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) & volume (Units) from 2021 to 2032, for the following segments:

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Market, By Technology

• Type 1
• Type 2
• Type 3

Market, By Power Rating

• ≤ 50 kA
• > 50 KA to 100 KA
• > 100 KA to 150 KA
• > 150 KA

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • Germany
  • France
  • Russia
  • UK
  • Italy
  • Spain
  • Netherlands
  • Austria
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Malaysia
  • Indonesia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Egypt
  • South Africa
  • Nigeria
  • Kuwait
  • Oman
• Latin America
  • Brazil
  • Peru
  • Argentina