Surge Protection Devices Market Size To Hit USD 5.02 Billion By 2032 | SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The Surge Protection Devices Market is growing with demand for reliable power safety solutions in industrial, commercial, and residential applications, driven by rising electrification and IoT adoption.

Austin, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Surge Protection Devices Market Size & Growth Insights:

According to the SNS Insider,“The Surge Protection Devices Market was valued at USD 2.89 billion in 2023 and is expected to reach USD 5.02 billion by 2032, growing at a CAGR of 6.37% from 2024-2032.”

Adoption of newer technology, especially 5G, is the primary factor because the emerging 5G infrastructure needs effective surge protection to safeguard the telecom devices. From new inventions to accelerate design and efficiency in SPD: Some SPD innovations are setting new trends in intellectual property (IP). Surge protection is a sound cost-benefit decision, allowing you to save on costly repairs and replacements of essential equipment. Due to differences in infrastructure standards, demand for SPDs varies by developed and developing regions. Consumers are becoming more conscious of the longevity and reliability of devices - their post-purchase consumer behavior reflects this. Government regulations and industry standards also play an essential role in shaping SPD designs to meet safety and performance requirements. As industries prioritize electrical protection, these factors collectively drive market growth and technological advancements in surge protection devices.

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Leading Market Players with their Product Listed in this Report are:

• ABB Ltd (Switzerland)
• General Electric Company (United States)
• Schneider Electric (France)
• Eaton Corporation plc (Ireland)
• Legrand (France)
• Emerson Electric Co. (United States)
• Siemens (Germany)
• CG Power and Industrial Solutions Limited (India)
• Littelfuse, Inc. (United States)
• Bourns, Inc. (United States)
• Belkin (United States)
• Havells India (India)
• Hubbell (United States)
• Infineon Technologies (Germany)
• Leviton Manufacturing (United States)
• Maxivolt (United States)
• Mersen (France)
• Philips (Netherlands)
• Phoenix Contact (Germany)
• Raycap (Greece)
• Rockwell Automation (United States).

Surge Protection Devices Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 2.89 Billion
Market Size by 2032	USD 5.02 Billion
CAGR	CAGR of 6.37% From 2024 to 2032
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Regional Analysis/Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Key Drivers	. Rising Adoption of Electrical Equipment Increases the Need for Surge Protection to Prevent Equipment Damage. . Rapid Urbanization and Infrastructure Growth Drive Increased Demand for Reliable Surge Protection Devices in Electrical Systems.

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Key Industry Segmentation

By Product, Hard-Wired Surge Protection Devices Dominating, Plug-In Surge Protection Devices Fastest Growing

In 2023, the Hard-Wired Surge Protection Devices segment dominated the market with a 42% revenue share, driven by its widespread use in commercial and industrial sectors requiring large-scale, permanent surge protection. These devices provide comprehensive safeguarding for entire electrical systems, shielding sensitive equipment from voltage spikes, which is crucial for industries dependent on uninterrupted power.

The Plug-In Surge Protection Devices segment is projected to grow at the fastest CAGR of 7.71% from 2024 to 2032, owing to the high demand from the residential and small commercial sectors. The growing demand for cost-effective, hassle-free surge protection solutions is also driving the market growth.

By End Use, Industrial Dominating and Commercial Fastest Growing

In 2023, the Industrial segment led the Surge Protection Devices Market with a 43% revenue share, driving to the requirement to protect sensitive machines and high-capacity equipment from any power surge. Manufacturing, oil and gas, and energy are industries dependent on the continuing function of electrical systems to avoid costly downtime and equipment damage.

The Commercial segment is projected to grow at the fastest CAGR of 8.13% from 2024 to 2032, Driving to the reliance on electronic devices, automation, and IT infrastructure. However, as businesses expand and digitize their operations, there is a growing need to install surge protection systems quickly to ensure operational efficiency, driving significant market growth in the commercial sector.

By Type, Type 2 Dominating and Type 1 Fastest Growing

In 2023, the Type 2 segment dominated the Surge Protection Devices Market with a 45% revenue share, driven by widespread adoption across residential, commercial and industrial applications to prevent equipment damage caused by transient power surges. Because it is affordable, easy to install, and functions after a Type 1 SPD, it typically is the solution of choice for best protecting electrical systems.

The Type 1 segment is expected to grow at the fastest CAGR of 7.84% from 2024 to 2032, to the rise in awareness regarding surge protection at entry points, particularly in lightning-prone regions. As such, preventing large-scale surges has become essential for the stabilization of our electrical grids, and demand for Type 1 SPDs remains on the rise in various industries and consumer spaces alike.

Surge Protection Devices Market - Segment s

By Product

• Hard Wired Surge Protection Devices
• Plug In Surge Protection Devices
• Line Cord Surge Protectors
• Power Control Devices

By Power Range

• Below 100 Ka
• 100 Ka To 500 Ka
• 500 Ka To 1000 Ka
• Above 1000 Km

By Type

• Type 1
• Type 2
• Type 3
• Type 4

By End Use

• Residential
• Industrial
• Commercial

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North America Leads, Asia Pacific Surges: Regional Dynamics Driving the Surge Protection Devices Market

In 2023, North America led the Surge Protection Devices Market with a 39% revenue share, driven owing to its well-established infrastructure, increasing dependency on sophisticated electrical systems, and rigorous regulatory norms that require reliable surge protection methods. The proliferation of smart grids and the high demand for SPDs in commercial and industrial sectors also contribute to the region's commanding position.

The Asia Pacific market is expected to grow at the fastest CAGR of 8.10% from 2024 to 2032, fueled by rapid urbanization, expanding industrialization, and significant investments in power infrastructure across China, India, and Southeast Asia. As these economies modernize, the integration of advanced electrical systems and the rising adoption of electronic devices are increasing the need for surge protection. The growing residential and commercial sectors, coupled with government initiatives for improved power distribution and grid stability, are key drivers in the region's surge protection market, positioning Asia Pacific as a major growth hub.

T able o f Contents - Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Impact of 5G Technology

5.2 Intellectual Property (IP) Trends

5.3 Cost-Benefit Analysis

5.4 Global Surge Protection Needs in Developed vs. Developing Regions

5.5 Post-purchase Consumer Behavior

5.6 Government Regulations and Standards Impacting SPD Designs

6. Competitive Landscape

7. Surge Protection Devices Market, by Product

8. Surge Protection Devices Market, by Power Range

9. Surge Protection Devices Market, by Type

10. Surge Protection Devices Market, by End Use

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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