Commercial Surge Protection Devices Market Size - By Product (Hard-Wired, Plug-In, Line Cord, Power Control Devices), By Technology (Type 1, Type 2, Type 3), By Power Rating, By Regional Outlook & Forecast, 2024 – 2032

Commercial Surge Protection Devices Market Size

The global commercial surge protection devices market size was valued at USD 1.45 billion in 2023 and is estimated to grow at a CAGR of over 6.2% from 2024 to 2032. Increasing reliance on electronic equipment along with the rising occurrence of power surges owing to grid instability & weather-related disruptions will fuel the industry scenario.
 

Commercial surge protection devices are crucial devices made to shield electrical devices in companies from voltage spikes and surges. These devices are also valuable in protecting sensitive electronics which include details such as computers, telecommunication equipment, medical devices, and Industrial equipment, from damage as a result of input voltage transients. SPDs work by redirecting excess voltage from the equipment that is being used and safely discharging it, preventing disruption and improving the durability of devices.

Commercial Surge Protection Devices Market Trends

The market for surge protection devices will be stimulated by the rising usage of smart grids as well as the changing consumer preferences towards protection from electrical shocks. The scope of the market also exhibits that there is a trend of bundled solutions which include surge protection and other power management functions in the same device which enhances power quality and monitoring. Additionally, these devices are beginning to be incorporated into energy control supervisory systems providing a holistic solution focusing on energy efficiency and power quality thus harnessing the potential of the industry.
 

Commercial Surge Protection Devices Market Analysis

The line cord commercial surge protection devices will exceed over USD 400 million by 2032. The increasing level of awareness among people regarding the devastating effects of electrical surges along with the high level policies and regulations will boost the uptake of these devices. The integration of these systems into automation and management systems coupled with the increasing realization of the significance of lightning protection will positively influence the business dynamics. This integration allows remote operations and real time monitoring of surge protection which enhances system reliability and creates new avenues for growth in the industry.
 

The type 2 commercial surge protection devices market size is set to grow at a CAGR of over 5.5% through 2032. These devices protect against medium-level transient over voltages which makes them a necessity in commercial applications where equipment reliability, along with equipment life requirements, are crucial. The limitations are likely to be even more pronounced in cases of central business districts, due to excessive commercial infrastructure development along with proliferation of sensitive electronic systems, like in-house data centers serving telecommunications and health care businesses.
 

The Asia Pacific commercial surge protection devices market is set to surpass USD 800 million by 2032. Rapid infrastructural development due to rising demand of advanced technology and increased use of sensitive electronic devices will boost the business setting. Besides, the increasing number of smart buildings and the use of renewable energy sources require more advanced surge protection in the region. Furthermore, there will be a significant dynamic in the industry due to government measures aimed at improving the quality and stability of electric power, harsh regulatory requirements.
 

The U.S. commercial surge protection devices market is growing at a steady rate on account of the usage of modern electronic equipment in almost all industries. These devices prevent damage to the essential electrical components and reduce downtime ensuring uninterrupted process. Older power infrastructure and increase in weather-related power outages also reinforce the need for these units. Furthermore, the penetration of the product is also due to the imposition of stringent regulatory standards by NEMA and OSHA.
 

Commercial Surge Protection Devices Market Share

Havells is engaged with the manufacture and supply of electrical, power transmission, and distribution equipment. Among its other high quality electrical equipment, the company sits on the high end of the surge protection device market where it has deployed high quality electronic systems that protect circuits against high voltage and transient surge. SPDs comprehensively protect the equipment by transferring voltage overload away from the system therefore averting possible collapse. The company’s Chicago solutions are efficient, durable and have international met safety standards. They can be used in residential, commercial and industrial applications, resulting in seamless operation and improved lifespan of electrical and electronic devices.
 

Commercial Surge Protection Devices Market Companies

The key industry players include:

• ABB
• Belkin
• Bourns, Inc.
• CG Power and Industrial Solutions Limited
• Eaton
• Emerson Electric Co.
• General Electric
• GEYA Electrical Equipment Supply
• Havells
• Hubbell
• Infineon Technologies AG
• Intermatic Incorporated
• JMV
• Legrand
• Leviton Manufacturing Co., Inc.
• Littelfuse, Inc.
• Maxivolt
• Mercen
• Philips
• Phoenix Contact
• Raycap
• Rockwell Automation
• Schneider Electric
• Siemens
   

Commercial Surge Protection Devices Industry News

• In August 2023, Eaton announced plans to spend USD 500 million more on its North American operations and manufacturing, to respond to the rapid growth in the demand for its electrical solutions. This expansion will meet the company's goal of increasing its critical power distribution equipment supply in order to meet the growing infrastructure needs across different industries. This effort has been particularly focused on the improvement of the manufacturing plants of switchboards and switchgears which serve as the power backbone for the customers over the world.
   
• In October 2023, Leviton has developed a new range of surge protective panels in response to the latest NEC requirements and expects to start marketing these panels. These panels are capable of multi-level as well as high performance in residential, commercial and industrial environments. These panels ensure a complete protection against over currents in service panels and at point of usage and are available in Type 1 and Type 2. The new range also includes outdoor rated panels which come with LCD screens and more advanced models. The type and degree of electric charge an installation can safely experience without damage is always a great concern in technical regulations and these devices offer enhanced protection for electric devices.
   

The commercial surge protection devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of “000 Units” & “USD Million” from 2021 to 2032, for the following segments:

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Market, By Product

• Hard-Wired
• Plug-In
• Line Cord
• Power Control Devices

Market, By Technology

• Type 1
• Type 2
• Type 3

Market, By Power Rating

• ≤ 50 kA
• > 50 KA to 100 KA
• > 100 KA to 150 KA
• > 200 KA

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Russia
  • UK
  • Italy
  • Spain
  • Netherlands
  • Austria
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Malaysia
  • Indonesia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Egypt
  • South Africa
  • Nigeria
  • Kuwait
  • Oman
• Latin America
  • Brazil
  • Peru
  • Argentina