Surge Protection Devices (SPDs) Market Size, Share, Growth, Trends, and Forecast 2030

Surge Protection Devices (SPDs) Market

Surge Protection Devices (SPDs) Market By Product (Hardwired, Line Cord, and Plug-In), By Type (Type 1 and Type 2), By Power Rating (50kA- 100kA and 100.1kA-200kA), By End-Use (Commercial Complexes, Industries & Manufacturing Units, Data Center, Medical, Residential Buildings, Transport, Telecommunications, and Others), and By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030

Category: Semiconductor & Electronics Report Format : PDF Pages: 231 Report Code: ZMR-7402 Published Date: Jul-2023 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 3 Billion USD 6 Billion 9.3% 2022

Surge Protection Devices (SPDs) Market

Surge Protection Devices (SPDs) Industry Perspective:    

The global surge protection devices (SPDs) market size was evaluated at $3000 million in 2022 and is slated to hit $6000 million by the end of 2030 with a CAGR of nearly 9.3% between 2023 and 2030.

Global Surge Protection Devices (SPDs) Market SizeRequest Free Sample

Surge Protection Devices (SPDs) Market: Overview

Surge Protection Devices (SPDs) are designed for protecting electrical devices from a rise in voltages. Furthermore, the equipment restricts the supply of voltage to the electric device through a halt or blockade of unwanted voltage crossing the safe threshold voltage limit. For the record, these devices find a slew of applications in telephone networks, automatic control buses, communication systems, and electric power supply networks.

Key Insights

  • As per the analysis shared by our research analyst, the global surge protection devices (SPDs)  market is projected to expand annually at the annual growth rate of around 9.3% over the forecast timespan (2023-2030)
  • In terms of revenue, the global surge protection devices (SPDs) market size was evaluated at nearly $3000 million in 2022 and is expected to reach $6000 million by 2030.
  • The global surge protection devices market is anticipated to record massive growth over the forecast period owing to an increase in the use of electric and electronic equipment in residential as well as commercial constructions.
  • In terms of product, the hardwired segment is slated to register the fastest CAGR over the analysis period.
  • On the basis of type, the type2 segment is slated to dominate the segmental surge over the forecast period.
  • Based on power rating, the 100.1kA-200kA segment is slated to dominate the segmental surge over the forecast period.
  • On the basis of end-use, the commercial complexes segment is slated to record the fastest CAGR over the forecast period.
  • Region-wise, the Asia-Pacific surge protection devices (SPDs) market is projected to register the highest CAGR during the assessment timeline.

global surge protection devices (SPDs) market sizeRequest Free Sample

The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global market space. The surge protection devices market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the surge protection devices industry report explores the investor and stakeholder space to help companies make data-driven decisions.

Surge Protection Devices (SPDs) Market: Growth Factors

Rise in voltage fluctuations and the need for protecting electric equipment to spearhead the global market expansion

An increase in the use of electric and electronic equipment in residential as well as commercial constructions has paved the way for demand for surge protection devices. In addition to this, the massive requirement of reducing the power utility bills through the reduction of power usage by electrical devices will steer the surge protection devices (SPDs) market trends globally. Apart from this, amplified demand for technologically advanced electric equipment with an increase in the per capita income of consumers can pave the way for the expansion of the market across the globe. Massive sales of electronic devices such as LED televisions, printers, microwaves, personal computers, and washing machines will culminate in humongous market demand in the upcoming years.

Launching of new products is predicted to make sizable contributions towards the global market revenue in the upcoming years. For instance, in June 2023, Littelfuse, Inc., a U.S.-based electronic manufacturing firm, introduced a NEMA-style surge protection device series for protecting equipment from overvoltage. The use of this device in food & beverages, oil &gas, construction, HVAC, and wastewater sectors will help in reducing costs incurred due to equipment damage as well as minimize downtime costs. Such initiatives will exponentiate the demand for products across a slew of end-use industries, thereby enlarging the global market size.

Surge Protection Devices (SPDs) Market: Restraints

Less consciousness about the advantages offered by the product can hinder the global industry surge

Lack of awareness about the benefits offered by the products among small-scale firms can put brakes on the expansion of the surge protection devices (SPDs) industry. Moreover, these products cannot shield electronic equipment from direct lightning currents in the power strip, thereby posing a huge threat to the growth of the global industry.

Surge Protection Devices (SPDs) Market: Opportunities

A rise in the issues concerning electricity supply can open new growth facets for the global market

Swift industrialization and power supply problems witnessed in emerging economies will open new growth avenues for the surge protection devices (SPDs) market globally. Escalating demand for smart power strips will help the market explore untapped growth potential in various countries, thereby providing impetus to the market space across the globe. In April 2022, Transtector Systems, a key provider of end-to-end power & signal integrity solutions, launched a new DIN-rail direct current surge protection device that can prevent electronic instruments from getting damaged due to voltage fluctuations & lightning strikes. Such moves will open new growth dimensions for the global market.

Surge Protection Devices (SPDs) Market: Challenges

Huge product costs can put a big challenge in the growth path of the global industry

Poor design parameters and high costs of the product can pose a huge challenge to the expansion of the global surge protection devices (SPDs) industry across the globe. Massive requirements for structured network systems for the product can further create hurdles in the growth of the global industry.

Surge Protection Devices (SPDs) Market: Segmentation

The global surge protection devices (SPDs) market is sectored into product, type, power rating, end-use, and region.

In product terms, the global surge protection devices market is segregated into hardwired, line cord, and plug-in segments. In addition to this, the hardwired segment, which gathered nearly 33% of the global market share in 2022, is slated to record the fastest CAGR in the forecast timeframe. The growth of the segment in the upcoming years can be attributed to the need for deploying hardwired surge protection devices on power lines to protect equipment. Apart from this, these products can also offer strong protection to connected equipment, air-conditioners, and other electric equipment against power fluctuations and power surges. Additionally, they find immense applications in lighting circuits, power distribution equipment, transformers, and motor controllers owing to their ability to improve operational efficiency and performance.

On the basis of the type, the surge protection devices industry across the globe is sectored into type 1 and type 2 segments. Furthermore, the type2 segment, which gained a sizable industry share of the global industry in 2022, is expected to lead the application segment in the forthcoming years. The segmental surge in the forecast timeline can be subject to the growing use of type 2 surge protection devices (SPDs) in commercial and industrial applications.

Based on the power rating, the global surge protection devices market is divided into 50kA- 100kA and 100.1kA-200kA segments. Moreover, the 100.1kA -200 kA segment, which dominated the segmental growth in 2022, is likely to retain its segmental domination even in the foreseeable future. The growth of the segment in the ensuing years can be owing to the immense preference for surge protection devices with higher kA in the industrial sector and data centers.

On the basis of end-use, the global surge protection devices industry is bifurcated into commercial complexes, industries & manufacturing units, data centers, medical, residential buildings, transport, telecommunications, and others segments. In addition to this, the commercial complexes segment, which contributed majorly towards the global industry share in 2022, is projected to record the fastest CAGR over the forecast timeline. The segmental surge over the assessment timeline can be due to the large-scale demand for the product in the commercial complexes segment.

Surge Protection Devices (SPDs) Market: Report Scope

Report Attributes Report Details
Report Name Surge Protection Devices (SPDs) Market Report
Market Size in 2022 USD 3000 Million
Market Forecast in 2030 USD 6000 Million
Growth Rate CAGR of 9.3%
Number of Pages 231
Key Companies Covered ABB SE, Schneider Electric, General Electric Corporation, Legrand, Eaton Corporation, Siemens AG, Emerson Electric Co., Tripp Lite, Vertiv Group Corp., and cgglobal.com.
Segments Covered By Product, By Type, By Power Rating, By End-Use, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Surge Protection Devices (SPDs) Market: Regional Insights

North America to account for a major share of the global market over the anticipated timespan

North America, which accounted for more than 50% of the global surge protection devices (SPDs) market share in 2022, is anticipated to record lucrative growth over the projected period. The market expansion in the region over the assessment timespan can be owing to the mammoth use of the product in the power utility sector in residential & commercial segments in countries such as the U.S. Apart from this, states such as Alabama, Florida, Mississippi, and Louisiana of the U.S. are affected due to lightning strikes and this has paved the way for the high product demand in these states.

Furthermore, the surge protection devices (SPDs) industry in the Asia-Pacific region is slated to register the highest CAGR in the assessment timeframe. The key growth driving factors of the industry in the region include an escalating preference for clean energy for fulfilling the energy requirements in countries such as India, Singapore, Japan, Malaysia, Taiwan, and China. The rise in the allocation of funds for improving the power infrastructure in the region will further drive the industry space in Asia-Pacific. The presence of key manufacturers in the region will contribute majorly to the regional market revenue in the upcoming years.

Surge Protection Devices (SPDs) Market: Competitive Space

The global surge protection devices (SPDs) market profiles key players such as :

  • ABB SE
  • Schneider Electric
  • General Electric Corporation
  • Legrand
  • Eaton Corporation
  • Siemens AG
  • Emerson Electric Co.
  • Tripp Lite
  • Vertiv Group Corp.
  • cgglobal.com

The global surge protection devices (SPDs) market is segmented as follows:

By Product         

  • Hardwired
  • Line Cord
  • Plug-In

By Type

  • Type 1
  •  Type 2

By Power Rating

  • 50kA- 100kA
  • 100.1kA-200kA

By End-Use

  • Commercial Complexes
  • Industries & Manufacturing Units
  • Data Center
  • Medical
  • Residential Buildings
  • Transport
  • Telecommunications
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Surge Protection Devices (SPDs) are designed for protecting electrical devices from a rise in voltages. Furthermore, the equipment restricts the supply of voltage to the electric device through a halt or blockade of unwanted voltage crossing the safe threshold voltage limit. For the record, these devices find a slew of applications in telephone networks, automatic control buses, communication systems, and electric power supply networks.         

The global surge protection devices (SPDs) market growth is owing to massive sales of electronic devices such as LED televisions, printers, microwaves, personal computers, and washing machines.

According to a study, the global surge protection devices (SPDs) industry size was $3000 million in 2022 and is projected to reach $6000 million by the end of 2030.

The global surge protection devices (SPDs) market is anticipated to record a CAGR of nearly 9.3% from 2023 to 2030.

The Asia-Pacific surge protection devices (SPDs) industry is set to register the highest CAGR over the forecasting timeline owing to an escalating preference for clean energy for fulfilling the energy requirements in countries such as India, Singapore, Japan, Malaysia, Taiwan, and China. The rise in the allocation of funds for improving the power infrastructure in the region will further drive the industry space in Asia-Pacific. The presence of key manufacturers in the region will contribute majorly to the regional market revenue in the upcoming years.   

The global surge protection devices (SPDs) market is led by players such as ABB SE, Schneider Electric, General Electric Corporation, Legrand, Eaton Corporation, Siemens AG, Emerson Electric Co., Tripp Lite, Vertiv Group Corp., and cgglobal.com.

Choose License Type

  • zion payment modes

HappyClients

Office Address

Contact Us

Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008

Contact #

US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

Industry Press Release

We Accept

We have secured system to process your transaction.

  • payment methods

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed