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Residential Surge Protection Devices Market Size
- Report ID: GMI10143
- Published Date: Jul 2024
- Report Format: PDF
Residential Surge Protection Devices Market Size
Residential Surge Protection Devices Market size was valued at USD 1.08 billion in 2023 and is estimated to grow at a CAGR of 6% between 2024 and 2032. The growing use of electronic devices in homes will create a rising demand for surge protection to safeguard this sensitive equipment from power surges and voltage spikes. For instance, the investments across the real estate sector surpasses USD 35 million in the first quarter of 2024 across the Europe.
Residential surge protection devices (SPDs) are critical components designed to safeguard electrical systems and sensitive equipment from voltage spikes and power surges. These devices work by diverting excess electrical current away from connected devices and grounding it safely, thereby preventing damage caused by sudden increases in voltage. They come in various types and ratings to suit different applications, from protecting individual appliances and electronics to safeguarding entire electrical systems and infrastructure.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Residential Surge Protection Devices Market Size in 2023: | USD 1.08 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6% |
| 2032 Value Projection: | USD 1.81 Billion |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 140 |
| Tables, Charts & Figures: | 50 |
| Segments covered: | Power Rating, Product, Technology & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Residential Surge Protection Devices Market Scope
