Surge Protection Devices Market Size - By Product (Hard-Wired, Plug-In, Line Cord, Power Control Devices), By Application (Residential, Commercial, Industrial), By Technology, By Power Rating & Forecast, 2024 – 2032

Surge Protection Devices Market Size

Surge Protection Devices Market was valued at USD 3.4 billion in 2023 and poised to observe over 6.1% CAGR from 2024 to 2032. The proliferation of electronics in both residential and commercial settings will boost market growth. For instance, in 2022, multifamily apartments accounted for over 40% share of real estate investments across the U.S.
 

The increasing utilization of electronic devices in homes, businesses, and industries will result into growing need for surge protection to safeguard this sensitive equipment from power surges and voltage spikes. These devices are increasingly being integrated with energy management systems to provide a holistic approach to energy efficiency and power quality.
 

COVID– 19 Impact

The COVID- 19 pandemic has significantly affected different sectors, including the voltage regulator market. The degree and type of influence have been shaped by several factors, such as the duration of the pandemic, the geographical locations of companies, and the specific subsectors within the voltage regulator industry. Nonetheless, the rising trend of remote work, coupled with the continued adoption of advanced electrical equipment, has acted as a catalyst for business expansion in this field.
 

Surge Protection Devices Market Trends

The proliferation of smart homes and the Internet of Things (IoT) has led to a surge in demand for surge protection devices for wide tandem of application areas. These devices help protect smart appliances, entertainment systems, and interconnected devices from power fluctuations. Increasing applicability across industrial settings to protect critical machinery, control systems, and automation equipment. As industries become more reliant on automation and advanced technology, the demand for robust surge protection solutions continues to rise.
 

Surge Protection Devices Market Analysis:

Based on technology, the type 1 surge protection devices will witness growth rate of over 6.3% through 2032. Growing awareness of the importance of lightning protection coupled with rising integration in building management systems and automation systems will favor the business scenario. This integration allows for real-time monitoring and remote control of surge protection, improving overall system resilience.
 

Based on product, the plug-in surge protection devices market held 40% of the revenue share in 2022. Increasing disposable income along with wide scale adoption of electronic devices in homes and businesses will augment the industry landscape. Increasing consumer inclination toward cost-effective and convenient solution will positively impact the business outlook.
 

Based on power rating, the ≤ 50 kA surge protection devices industry is set to surpass USD 950 million by 2032. Regulations and standards related to surge protection are evolving, and compliance is becoming more stringent, which in turn will accelerate the business potential. Growing consumer interest toward eco-friendly, compact and sustainable SPDs will fuel the product penetration.
 

Based on application, the market is segmented as residential, commercial, and industrial. These systems are integrated into larger home automation ecosystems, allowing homeowners to incorporate them into their smart home setups and control them alongside other connected devices, stimulating the industry growth.
 

• The Asia Pacific surge protection devices industry was valued at USD 1.2 billion in 2022. The demand for data centers across the region will rise owing to the growth of cloud computing and data-intensive applications, creating a significant opportunity for business expansion.
   
• Stringent government regulations related to electrical safety, voltage fluctuations and surges will energize the industry dynamic. Increasing applicability of these devices to monitor & manage power surges remotely and provide real-time data on power quality will propel the product deployment.
   

Surge Protection Devices Market Share

The manufacturers were continuously improving surge protection technology to provide better protection for sensitive electronic equipment. This includes advancements in surge componentry, voltage clamping, and response times.
 

The key industry market players include.

• General Electric
• Siemens
• ABB
• Schneider Electric
• CG Power and Industrial Solutions Limited
• Littelfuse, Inc.
• Mercen
• Infineon Technologies AG
• Philips
• JMV
• GEYA Electrical Equipment Supply
• Rockwell Automation
• Hubbell
• Belkin 
• Havells India Ltd.
• Leviton Manufacturing Co., Inc. 
• Maxivolt 
• Phoenix Contact
• Raycap 
• Intermatic Incorporated
• OBO Bettermann Holding GmbH & Co. KG
• Bourns, Inc.
• Emerson Electric
• Eaton
• Legrand
• Shenzhen Techwin Lightning Technologies Co., Ltd.

Legrand is a company with a presence in many countries and a wide range of electrical and wiring products, including surge protection devices. They offer surge protectors for residential, commercial, and industrial applications This company is well-known company in the electrical and digital building infrastructure industry.
 

Surge Protection Devices Market News:

• In July 2023, Bourns introduced a high-performance DC surge protective device 1420A series. This product has been designed for DIN Rail applications offering surge protection up to 50 kA in various configurations. It caters high-risk electrical service entrances and panels, including EV fast chargers, battery energy storage systems (BESS), and photovoltaic energy generation systems. The product features an Advanced Thermal Disconnector (TD+) for enhanced safety during abnormal overvoltage events and offers monitoring capabilities with a window fault indicator and remote auxiliary output signal.
   
• In June 2023, Raycap launched surge protection device for PV power systems and electric vehicle charging stations, ProTec PV Box 7y. It stands out as the most compact three-string solution available in the market, providing a notable advantage when it comes to installing solar panels on rooftops with limited space. What sets it apart is its simplified installation process, allowing for easy string installation without the need for tools, thanks to convenient features like push-in connections, cable bushings, or MC4 connectors.
   

This surge protection devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments:

Click here to Buy Section of this Report

By Product

• Hard-Wired
• Plug-In
• Line Cord
• Power Control Devices

By Technology

• Type 1
• Type 2
• Type 3

By Power Rating

• ≤ 50 kA
• > 50 KA to 100 KA
• > 100 KA to 150 KA
• > 200 KA

By Application

• Residential
• Commercial
• Industrial

The above information has been provided for the following regions and country:

• 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