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Plug-In Industrial Surge Protection Devices Market Trends

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

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Plug-In Industrial Surge Protection Devices Market Trends

The industry is poised for robust growth on account of integrated solutions that merge surge protection with comprehensive energy management functions, offering enhanced protection and monitoring capabilities. Continuous investment toward reliable and efficient protection devices along with rising adoption of advanced automated systems, robotics, and digital controls will encourage the industry outlook. Additionally, growing deployment of smart grids coupled with a heightened focus on safeguarding against electrical disturbances will positively sway the demand for surge protection devices.

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.