Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Surge Protection Devices Market size was USD 2.7 billion in 2024 and is estimated to reach USD 5.5 billion by the end of 2037, expanding at a CAGR of 6.5% during the forecast period, i.e., 2025-2037. In 2025, the industry size of surge protection devices is assessed at USD 2.9 billion.
The trade of surge protection devices (SPD) is influenced by the supply chain of raw materials, components, and assembly operations. Varistors and gas discharge tubes are some of the main raw components required for the manufacturing of surge protection devices. China and Japan are estimated to lead the sales of metal oxides and ceramics, essentially for SPD, in the coming years. The U.S. International Trade Commission projects that in 2023, the imports of electrical apparatus components, including those for SPDs, amounted to USD 1.4 billion. The import trade reflected a 9% growth over 2022. The surge protection device manufacturing is projected to be led by North America, Europe, and Southeast Asia. The strong presence of key players in these regions is set to drive the overall market growth in the coming years. Furthermore, according to the analysis by the U.S. Census Bureau, the imports of SPD-related electrical apparatus (HTS code 8536.30) increased by 11.7% in 2023. The ICT infrastructure expansion and industrial automation trend are accelerating the demand for advanced surge protection devices.
Surge Protection Devices Sector: Growth Drivers and Challenges
Growth Drivers
- EV charging expansion: The robust rise in electric vehicle registrations is anticipated to fuel the demand for advanced surge protection systems. The ongoing innovations in EV charging infrastructure are accelerating the applications of surge protection solutions. As per the analysis by the International Energy Agency (IEA), the global number of public EV chargers is projected to cross 16 million by 2030. This highlights lucrative earning opportunities for surge protection device producers.
- Industrial automation and Industry 4.0 trend: The rise in smart manufacturing practices and the Industry 4.0 trend is poised to fuel the deployment of advanced surge protection devices. The global smart manufacturing market is projected to increase at a CAGR of 12.9% during the forecast period. The booming demand for robotics and automated technologies is set to drive high sales of technologically advanced surge protection devices. As companies are employing PLCs and SCADA systems, the need for surge protection technologies is gaining traction.
Technological Innovations in the Surge Protection Devices Market
The technological advancements are set to double the revenues of surge protection device companies in the years ahead. The smart grid modernization is fueling the sales of innovative surge protection solutions. The table below highlights the adoption and outcome of surge protection devices.
|
Sector |
Technology Adopted |
Company Example |
Measurable Outcome |
Source |
|
Telecom |
AI-enabled Smart SPD |
Telkomsel + Schneider |
24.4% cut in failure rates (2024) |
Schneider Electric Press Release, 2024 |
|
Manufacturing |
Predictive Diagnostics SPD |
ABB |
19.1% reduction in unplanned downtime |
ABB Sustainability Report, 2024 |
|
Finance |
Modular, IoT-connected SPD |
JPMorgan Chase |
99.99% system uptime in Tier IV data centers |
JPMorgan Infrastructure Update, 2024 |
AL and ML Integration in the Surge Protection Devices Market
The integration of AI and ML is poised to boost the productivity and effectiveness of surge protection technologies. The digital shift is driving end users to invest in AI and ML-powered surge protection systems. The table below reflects the integration of digital technologies and their outcomes.
|
Company |
Integration of AI & Machine Learning |
Outcome |
|
ABB |
AI-driven product simulation for R&D |
23.4% cut in development time (2024) |
|
Eaton |
Machine learning for supply chain forecasting |
18.3% decrease in logistics costs and inventory delays (2024) |
|
Schneider Electric |
Predictive analytics in quality control |
15.8% enhancement in product reliability; lower returns (2024) |
Challenges
- Varying regulations: The inconsistent regulations are limiting the adoption of surge protection devices across the world. The distinct compliance standards are delaying the market entry of new products, which is directly hampering the profits of manufacturers. The mandatory certifications increase the compliance costs and create budgetary challenges for surge protection device producers. Thus, the increasing time-to-market and non-recurring engineering (NRE) costs are expected to hamper the overall surge protection device sales growth in the coming years.
- Domestic production trend: The vocal for local initiatives carried out by the majority of countries is expected to hamper the regional expansion of global surge protection device companies. Brazil, Russia, and Indonesia are more focused on favoring local manufacturing through sourcing mandates or import quotas. This is hampering the profit shares of leading companies as they are not able to earn lucrative gains from untapped markets.
Surge Protection Devices Market: Key Insights
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.5% |
|
Base Year Market Size (2024) |
USD 2.7 billion |
|
Forecast Year Market Size (2037) |
USD 5.5 billion |
|
Regional Scope |
|
Surge Protection Devices Segmentation
Product Type (Plug-in SPD, Hard-Wired SPD, Line Cord SPD, Power Control Center)
The hard-wired SPD is projected to account for 36.5% of the global market share throughout the forecast period. The increasing application of hard-wired surge protection devices in commercial and industrial power distribution panels is contributing to the overall segmental growth. Telecom base stations and mission-critical infrastructure are expected to dominate the sales of hard-wired surge protection devices. The U.S. Department of Energy (DOE) suggests that the whole-building surge protection using hard-wired devices prevents service disruptions. Such recommendations accelerate the sales of hard-wired SPD.
End user (Telecommunications, Industrial Manufacturing, Residential, Commercial Buildings, Data Centers, Utilities & Energy)
The telecommunication segment is estimated to hold 29.8% of the global surge protection devices market by 2037. The robust investments in the 5G infrastructure are anticipated to increase the need for advanced surge protection technologies in the coming years. The telecom companies are investing heavily in next-gen surge protection devices to safeguard small cells, antennas, and networked base stations from lightning. According to the International Telecommunication Union (ITU), SPD deployment in 5G edge networks ensures network uptime and signal continuity. This encourages telecom companies to invest in surge protection devices.
Our in-depth analysis of the surge protection devices market includes the following segments:
|
Product Type |
|
|
Power Rating |
|
|
End user |
|
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Customize this ReportSurge Protection Devices Industry - Regional Synopsis
APAC Market Forecast
The Asia Pacific surge protection devices market is foreseen to capture 37.1% of the global revenue share by 2037. The increasing infrastructure and smart city projects in the region are propelling the demand for advanced surge protection devices. The robust automobile registrations and EV trend are set to accelerate the adoption of surge protection devices in the coming years. The national initiatives aimed at the expansion of grid modernization and clean energy capacity are likely to double the revenues of surge protection device manufacturers during the study period.
China is expected to dominate the sales of surge protection devices during the projected period. The strong presence of raw material producers is supporting the growth of the surge protection devices market. Continuous innovations in semiconductor manufacturing are set to fuel the trade of next-gen surge protection technologies. As per the analysis by the Ministry of Industry and Information Technology (MIIT), the SPD-related investments increased by nearly 28.5% from 2018 to 2023. National programs focused on grid modernization are accelerating the sales of surge protection devices.
The demand for surge protection devices in India is expected to increase at a CAGR of 7.6% between 2025 to 2037. The rising demand for digital technologies is creating a profitable environment for surge protection device manufacturers. According to the analysis by the Ministry of Electronics and Information Technology (MeitY), SPD-related funding increased by 22.4% between 2015 and 2023. This is significantly accelerating the digital infrastructure growth in the country. Furthermore, the boom in EV adoption is drawing the attention of global surge protection device investors.
North America Market Statistics
The North America surge protection devices market is estimated to increase at a CAGR of 5.3% from 2025 to 2037. The increasing investments in the ICT infrastructure expansion are set to create a profitable earning pool for surge protection device manufacturers. The high demand for advanced wireless connectivity networks and supportive broadband expansion initiatives is also expected to fuel the demand for surge protection devices in the years ahead. The digital shift is anticipated to encourage large enterprises and SMEs to invest in advanced surge protection devices.
In the U.S., the growth in data centers and increasing connectivity infrastructure is poised to propel the sales of surge protection devices in the coming years. The supportive government funding is also contributing to the increasing demand for surge protection technologies. The Federal Communications Commission (FCC) states that it invested more than USD 8.9 billion in broadband and network resilience projects in 2023. Such funding moves are aiding surge protection device manufacturers to earn lucrative gains.
The boosting clean energy sector of Canada is estimated to offer high-earning opportunities for surge protection device manufacturers during the study period. The government initiatives promoting the adoption of smart grid systems are also set to accelerate the production and commercialization of surge protection technologies. In 2024, the Innovation, Science and Economic Development (ISED) invested nearly 8.5% of its budget in ICT infrastructure growth. The supportive public spending and initiatives targeting the ICT sector are likely to fuel the sales of innovative surge protection devices in the coming years.
Companies Dominating the Surge Protection Devices Market Landscape
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The surge protection devices market is characterized by the presence of gigantic players and the increasing emergence of new companies. The leading companies are focused on new product launches and technological innovations to boost their revenue shares. They are also forming strategic partnerships with other players to uplift their market reach. Industry giants are also collaborating with their high-tech companies to introduce AI and ML-integrated surge protection devices. The key players are also entering into high-potential markets to earn lucrative gains from untapped opportunities. They are also employing mergers & acquisitions strategies to expand their product offerings.
|
Company Name |
Country of Origin |
Revenue Share 2024 |
|
Eaton Corporation |
USA |
9.9% |
|
Schneider Electric |
France |
9.5% |
|
Siemens AG |
Germany |
7.7% |
|
ABB Ltd |
Switzerland |
6.6% |
|
Legrand SA |
France |
5.9% |
|
Hager Group |
Germany |
xx% |
|
NHP Electrical Engineering Products |
Australia |
xx% |
|
LS ELECTRIC Co., Ltd. |
South Korea |
xx% |
|
Havells India Ltd |
India |
xx% |
|
TNB Electric |
Malaysia |
xx% |
|
Phoenix Contact GmbH & Co. KG |
Germany |
xx% |
|
Schneider Electric India Pvt. Ltd |
India |
xx% |
|
Schneider Electric Malaysia Sdn Bhd |
Malaysia |
xx% |
|
HPM Legrand Australia |
Australia |
xx% |
|
LS Cable & System Ltd. |
South Korea |
xx% |
Below are the areas covered for each company in the surge protection devices market:
Recent Developments
- In March 2024, Eaton Corporation announced the launch of an advanced SPD Smart Monitoring System designed specifically for ICT infrastructure. This product led to a 12.4% revenue increase in their SPD segment in the first quarter of 2024.
- In January 2024, Schneider Electric introduced an eco-friendly, modular SPD series with enhanced connectivity options. This offering is targeting cloud data centers and enterprise ICT setups.
Author Credits: Abhishek Verma
- Report ID: 3740
- Published Date: Jun 02, 2025
- Report Format: PDF, PPT
