Surge Protection Devices Market Report by Product (Hard-wired, Plug-in, Line Cord, Power Control Devices), Type (Type 1, Type 2, Type 3, Type 4), Power Rating (0-50 kA, 50.1-100 kA, 100.1-200 kA, 200.1 kA and Above), End User (Commercial Complexes, Data Centre, Industries and Manufacturing Units, Medical, Residential Buildings and Spaces, Telecommunication, Transportation, and Others), and Region 2024-2032
The global surge protection devices market size reached US$ 3.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 3.4 Billion
Market Forecast in 2032
US$ 5.4 Billion
Market Growth Rate (2024-2032)
5%
Surge protection devices (SPDs) are small electric power supply network, which are extensively deployed in the commercial and residential sectors for protecting electrical devices and appliances from voltage spikes. They operate when the transient voltage transpires on the protected circuit, and then it inhibits the transient voltage by diverting the current back to its source. They are commercially available in varying types, such as voltage limiting and switching. The voltage limiting components change in impedance as currents rise whereas, switching components turn on once a threshold voltage is exceeded and instantly drop to a low impedance.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Surge Protection Devices Market Trends:
The rapid expansion in the automotive industry, along with the escalating demand for slim smart portable appliances with a faster processor, better power densities and enhanced sensitivity, are key factors primarily driving the global surge protection devices market toward growth. Furthermore, the increasing utilization of electrical and mechanical components in the automobile sectors for improving driving assistance, navigation, passenger, telematics, safety and comfort is positively influencing the market. In line with this, the use of these devices for delivering smart and high-performance functionalities by inhibiting the overheating and preventing wires is propelling the market growth. Other than this, the introduction of equipment miniaturization has also led to the growth in the demand for circuit protection solutions in the market across the globe. Additionally, the growing investments and funding made by manufacturers for developing compact and innovative products for dealing with the vulnerable voltages and electrical surges are positively impacting the market. Other than this, the numerous initiatives undertaken by the governments of various nations for enhancing the infrastructure to mandate the safety standards of workplaces are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global surge protection devicesmarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, type, power rating and end user.
Breakup by Product:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Hard-wired
Plug-in
Line Cord
Power Control Devices
Breakup by Type:
Type 1
Type 2
Type 3
Type 4
Breakup by Power Rating:
0-50 kA
50.1-100 kA
100.1-200 kA
200.1 kA and Above
Breakup by End User:
Commercial Complexes
Data Centre
Industries and Manufacturing Units
Medical
Residential Buildings and Spaces
Telecommunication
Transportation
Others
Breakup by Region:
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North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Belkin International Inc. (Hon Hai Precision Industry Co. Ltd.), Eaton Corporation PLC, Emerson Electric Co., General Electric Company, Havells India Ltd., Hubbell Incorporated, Koninklijke Philips N.V., Legrand, Littelfuse Inc., Mersen, Schneider Electric SE and Siemens AG.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Product, Type, Power Rating, End User, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
ABB Ltd., Belkin International Inc. (Hon Hai Precision Industry Co. Ltd.), Eaton Corporation PLC, Emerson Electric Co., General Electric Company, Havells India Ltd., Hubbell Incorporated, Koninklijke Philips N.V., Legrand, Littelfuse Inc., Mersen, Schneider Electric SE and Siemens AG
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global surge protection devices market was valued at US$ 3.4 Billion in 2023.
We expect the global surge protection devices market to exhibit a CAGR of 5% during 2024-2032.
The rising demand for smart portable appliances with a faster processor, better power densities, and enhanced sensitivity across the automotive industry is primarily driving the global surge protection devices market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing activities for surge protection devices.
Based on the product, the global surge protection devices market can be categorized into hard-wired, plug-in, line cord, and power control devices. Currently, hard-wired accounts for the majority of the total market share.
Based on the type, the global surge protection devices market has been segregated into type 1, type 2, type 3, and type 4. Among these, type 2 currently holds the largest market share.
Based on the power rating, the global surge protection devices market can be bifurcated into 0-50 kA, 50.1-100 kA, 100.1-200 kA, and 200.1 kA and above. Currently, 100.1-200 kA exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global surge protection devices market include ABB Ltd., Belkin International Inc. (Hon Hai Precision Industry Co. Ltd.), Eaton Corporation PLC, Emerson Electric Co., General Electric Company, Havells India Ltd., Hubbell Incorporated, Koninklijke Philips N.V., Legrand, Littelfuse Inc., Mersen, Schneider Electric SE, and Siemens AG.
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