Plug In Residential Surge Protection Device Market Size – By Technology (Type 1, Type 2, Type 3), By Power Rating (≤ 50 kA, > 50 KA to 100 KA, > 100 KA to 150 KA, > 150 KA), By Regional Outlook & Forecast, 2024 – 2032

Plug In Residential Surge Protection Device Market Size

Plug In Residential Surge Protection Device Market was valued at USD 444.4 million in 2023 and is projected to grow at a CAGR of 6.1% between 2024 and 2032. Growing awareness of the risks associated with electrical surges coupled with the proliferation of smart home devices and connected appliances will encourage the industry outlook. Continuous growth in consumer electronics including gaming consoles, home theaters, and large-screen TVs along with ongoing technological advancements to improve clamping voltage & response time will propel the business growth.
 

A plug in residential surge protection devices is a compact electrical device designed to protect individual household electronics and appliances from voltage spikes or surges. These are typically used for safeguard specific devices by being plugged directly into a standard electrical outlet. Growing emphasis on energy efficiency and environmental sustainability in line with deployment of eco-friendly SPDs that consume less power when not in use will drive the industry dynamics. In addition, increasing occurrences of power outages driven by aging power grids, frequent lightning storms, and unstable electricity supplies will energize the adoption of residential surge protection devices.
 

Plug In Residential Surge Protection Device Market Trends

The industry is witnessing substantial growth on account of inexpensive as compared to whole-house surge protectors, making them an attractive option for homeowners. Rapid population growth particularly in emerging markets coupled with rising consumers investment in more electronics devices will positively influence the need for affordable surge protection devices. Moreover, stringent regulations and standards for electrical safety in residential buildings combined with robust urbanization growth and new housing development will encourage the deployment of these units.
 

Plug In Residential Surge Protection Device Market Analysis

The Type 1 plug in residential surge protection device industry size will exceed USD 350 million by 2032. Increasing demand for comprehensive home protection devices in conjunction with there is need for enhanced voltage clamping and faster response time will bolster the business outlook. Continuous investment toward adoption of smart home devices which require consistent and stable power in association with ongoing improvements in these devices by integrating of advanced metal oxide varistor and gas discharge tube components will energize the favorable business opportunities.
 

The > 50 KA to 100 KA power rated plug in residential surge protection device market size will observe a notable growth of over 6% through 2032. These power rating is observing robust growth owing to their ability to offer robust protection against extreme surges. Rising adoption of advanced technological system with higher surge current ratings to protect their investments from severe electrical surges will create a positive business environment. Growing severe weather events comprising of thunderstorms and lightning strikes in tandem with homeowners across key geographies are investing in sustainable and reliable surges to protect their electronics and home systems will stimulate the business potential.
 

Asia Pacific plug in residential surge protection device market is set to surpass USD 250 million by 2032. The region is witnessing significant growth on account of rapid urbanization growth and rising residential construction activities. Increasing power surges and voltage fluctuations owing to aging electrical infrastructure and the increasing load on power grids coupled with growing awareness of the importance of surge protection will energize the industry landscape. Furthermore, government authorities in key emerging economies are implementing regulatory standards and safety guidelines that encourage or mandate the use of surge protection devices in residential buildings, which in turn will augment the market growth.
 

U.S. plug in residential surge protection device industry is poised for robust growth driven by rising smart home technology, increased consumer awareness, regulatory requirements, and technological advancements. Increasing reliance on electronics systems in line with rising frequency of power surges in the country will foster the industry penetration. Rising energy costs and surging high value electronics including large televisions screens, gaming consoles, and computers in residential settings will sway the business dynamics in forthcoming years.
 

Plug In Residential Surge Protection Device Market Share

ABB operates in five business divisions consisting of industrial automation, electrification, motion, robotics & discrete automation, and power grids. The company offers its specialized portfolio to diverse industries including data center, building, food & beverage, marine, wind & solar and O&G. Its industrial automation division consists of products and solutions for automation, instrumentation, and optimization of industrial processes. ABB delivers electrification products comprising of low voltage products & systems, medium voltage products, solar inverters, electrical vehicle charging infrastructure and power conditioning. The company’s low voltage segment provides reliable conductor and conduit system & fittings for application in power generation, robotics, food processing and offshore drilling. Its power grid segment includes digital substations, HVDC lights, eco efficient switchgear etc. ABB’s robotics and motion division portfolio consist of drives, robotics, and motors & generators.
 

Plug In Residential Surge Protection Device Market Companies

The key industry players include:

• ABB
• Belkin
• CLAMPER
• Eaton
• Emerson Electric Co.
• General Electric
• Havells India Ltd.
• Hubbell Incorporated
• Infineon Technologies AG
• JMV LPS Limited
• Koninklijke Philips N.V.
• Legrand
• Maxivolt
• Nice North America LLC
• Phoenix Contact
• Schneider Electric
   

Plug In Residential Surge Protection Device Industry News

• In May 2024, Phoenix Contact expanded its production network to the North American market by establishing Phoenix Contact Production S.A. de C.V. in Mexico. The new 20,000 m² facility in Querétaro, with an investment of around USD 55 million, aimed to begin production by the end of 2025, employing approximately 700 people by 2032.
   
• In February 2024, ABB announced the acquisition of SEAM Group, a move designed to strengthen its Electrification portfolio in electrical safety, renewables, and asset management advisory services. Through this acquisition, ABB aims to address the growing demand for asset modernization and optimization, ensuring safer, smarter, and more sustainable operations.
   

This plug in residential surge protection device market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD Million” 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