Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Surge Protection Devices Market size was valued at USD 3.32 billion in 2024 and is set to exceed USD 7.71 billion by 2037, registering over 6.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of surge protection devices is evaluated at USD 3.51 billion.
The growth of the market can be attributed to the increasing demand for protection systems for electronic devices, and rise in usage of consumer electronics across the globe. Along with these, rapid climate changes globally and subsequent increase in lightning incidences are also crucial factors expected to drive significant growth to the market in the upcoming years. Furthermore, escalating economic developments in developing nations, and growing adoption of high technology equipment such as laptops, washing machines and LCDs are projected to offer lucrative opportunities to the market in the near future. In 2019, more than 172 million units of laptops were shipped around the world, increasing up to more than 220 million units by the end of 2020.
Surge Protection Devices Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Demand for Protection Systems for Electronic Devices
- Rising Usage of Consumer Electronics Across the Globe
Challenges
- Availability of Poorly Designed Surge Protection Devices
Surge Protection Devices Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.7% |
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Base Year Market Size (2024) |
USD 3.32 billion |
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Forecast Year Market Size (2037) |
USD 7.71 billion |
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Regional Scope |
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Surge Protection Devices Segmentation
The market is segmented by type into hard-wired, plug-in, and line cord, out of which, the plug-in segment is anticipated to hold the largest share in the global surge protection devices market. This can be accounted to the high suitability of plug-in devices for installation at the origin of the network, and their ability to effectively protect equipment from indirect lightning strikes. Additionally, on the basis of end user, the industrial segment is predicted to acquire the largest share during the forecast period, which can be credited to the increasing requirement for servers, data centers and communication systems in industries. Apart from these, growing applications of industry 4.0 initiative for electric machinery and automobiles to facilitate remote maintenance and diagnostics is also assessed to accelerate growth of the market segment in the coming years.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Power Rating |
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By End-User |
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Customize this ReportSurge Protection Devices Industry - Regional Synopsis
Asia Pacific industry is predicted to hold largest revenue share by 2037, propelled by increasing emphasis on using clean energy to meet the energy needs, especially in China, Singapore and India. Propelled by increasing emphasis on using clean energy to meet the energy needs, especially in China, Singapore and India. In addition, rapidly growing urbanization, and rising investments in smart grid technologies and smart cities are also projected to boost the market growth of the region in the future. According to the World Bank, 60.695 percent of East Asia and Pacific’s total population lived in urban areas in 2020, up from 59.887 percent and 59.052 percent in the years 2019 and 2018 respectively.
in North America is anticipated to occupy the largest share during the forecast period owing to the early adoption of advanced technologies, and high electricity consumption in commercial and residential sectors in the region.
Companies Dominating the Surge Protection Devices Landscape
- ABB, Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Siemens AG
- Eaton Corporation, Plc
- Schneider Electric
- Emerson Electric Company
- Vertiv Group Corporation
- Legrand SA
- Hubbell Incorporated
- Littlefuse, Inc
- Mersen Corporate Services SAS
In the News
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January 2021- Emerson announced updates to its SolaHD surge protective devices and power filters to prevent damage to mission-critical electronics within their facilities.
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November 2020- Hitachi ABB launched a new surge arrestor factory in China for meeting the growing energy requirements of the region more effectively.
Author Credits: Abhishek Verma
- Report ID: 3740
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
