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Plug-In Industrial Surge Protection Devices Market Size

Report ID: GMI12040
Published Date: Oct 2024
Report Format: PDF

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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.

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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 plug directly into electrical outlets or panels, providing a barrier against sudden power surges that could damage sensitive machinery, disrupt operations, or lead to costly downtime. Ongoing deployment of these units in critical facilities including manufacturing facilities, data centers, and other high-stakes industrial settings, thereby proliferating the business dynamics. Additionally, the rising dependence on electronic equipment coupled with the growing frequency of power surges from grid instability will bolster the demand for industrial surge protection devices.

Plug-In Industrial Surge Protection Devices Market Report Attributes
Report Attribute	Details
Base Year:	2023
Plug-In Industrial Surge Protection Devices Market Size in 2023:	USD 350.7 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.4%
2032 Value Projection:	USD 609.3 Million
Historical Data for:	2021 to 2023
No. of Pages:	120
Tables, Charts & Figures:	40
Segments covered:	Technology, Power Rating and Region
Growth Drivers:	Ongoing development & expansion of industries Large scale integration of renewable energy sources Escalating demand for reliable & continuous electricity
Pitfalls & Challenges:	High initial cost

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Authors: Ankit Gupta , Saurabh Singh

Frequently Asked Questions (FAQ) :

The global market for plug-in industrial surge protection devices was reached USD 350.7 million in 2023 and is estimated to grow at a CAGR of 6.4% from 2024 to 2032, driven by the rising demand to safeguard sensitive electrical systems.

The type 1 plug-in industrial surge protection devices market is expected to exceed USD 280 million by 2032, propelled by the need for comprehensive protection devices and enhanced voltage clamping.

The > 150 kA power rated plug-in industrial surge protection devices market is projected to grow at a CAGR of about 6% through 2032, as these devices play a vital role in protecting electrical systems in industries like energy and manufacturing.

The U.S. plug-in industrial surge protection devices market is set to reach over USD 110 million by 2032, led by strict regulatory mandates and ongoing investments in infrastructure modernization and industrial automation.

Major players in the industry include 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, and Wenzhou Arrester Electric.