Plug In Residential Surge Protection Device Market Size

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.

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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.