Residential 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 & Forecast, 2024 – 2032

Residential Surge Protection Devices Market Size

Residential Surge Protection Devices Market size was valued at USD 1.08 billion in 2023 and is estimated to grow at a CAGR of 6% between 2024 and 2032. The growing use of electronic devices in homes will create a rising demand for surge protection to safeguard this sensitive equipment from power surges and voltage spikes. For instance, the investments across the real estate sector surpasses USD 35 million in the first quarter of 2024 across the Europe.
 

Residential surge protection devices (SPDs) are critical components designed to safeguard electrical systems and sensitive equipment from voltage spikes and power surges. These devices work by diverting excess electrical current away from connected devices and grounding it safely, thereby preventing damage caused by sudden increases in voltage. They come in various types and ratings to suit different applications, from protecting individual appliances and electronics to safeguarding entire electrical systems and infrastructure.

 

Residential Surge Protection Devices Market Trends

The proliferation of smart homes and the Internet of Things (IoT) has significantly increased the demand for surge protection devices. These units help protect smart appliances, entertainment systems, and interconnected devices from power fluctuations. Additionally, increasing applicability of these units across multifamily apartments to safeguard critical machinery, control systems, and automation equipment will energize the business dynamics. Moreover, these devices are increasingly being incorporated into energy management systems to offer a comprehensive approach to energy efficiency and power quality, accelerating the industry potential.
 

Residential Surge Protection Devices Market Analysis

The type 2 residential surge protection devices segment will exceed over USD 700 million by 2032. Increasing awareness of the importance of lightning protection combined with the growing integration of these systems into building management and automation systems will enhance the business landscape. This integration enables real-time monitoring and remote control of surge protection, thereby improving overall system resilience and offering significant opportunities for industry expansion.
 

The > 50 KA to 100 KA rated residential surge protection devices market size will witness a growth rate of over 5.5% through 2032. These devices are crucial for safeguarding lower capacity systems against power surges and voltage spikes, ensuring the longevity and reliability of electronics. Implementation of stringent government regulations and standards related to surge protection are evolving will fuel the product penetration. Furthermore, rising consumer interest in eco-friendly, compact, and sustainable protection devices will further drive the business scenario.
 

The Asia Pacific residential surge protection devices market is set to surpass USD 600 million by 2032. The flourishing real estate sector along increasing infrastructural investments primarily across the developing nation will present a substantial prospect for business expansion. Strict government regulations concerning electrical safety, voltage fluctuations, and surges will invigorate the industry dynamics. The growing use of these devices for remotely monitoring and managing power surges will escalate the product adoption.
 

The rising awareness of the importance of protecting sensitive electronics from power surges, along with stringent government regulations on electrical safety will propel the U.S. market. The consumers and are increasingly aware of the importance of protecting sensitive electronic equipment from power surges and voltage spikes, leading to higher penetration of these devices.
 

Residential Surge Protection Devices Market Share

JMV operates as one of the leading providers in surge protection devices offers a comprehensive range of solutions designed to protect sensitive electronic equipment from power surges and voltage spikes. With a strong focus on innovation and reliability, the company are engineered to meet the stringent demands of various sectors, including residential, commercial, and industrial applications. Its products integrate advanced technologies for effective surge suppression, ensuring the uninterrupted operation and longevity of connected devices.

JMV emphasizes not only product performance but also compliance with global standards, ensuring their SPDs meet the highest levels of electrical safety and reliability. As the demand for robust surge protection solutions grows worldwide, it continues to expand its market presence by delivering cutting-edge products tailored to meet evolving customer needs.
 

Residential 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
• 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
• Shenzhen Techwin Lightning Technologies Co., Ltd.
• Siemens
   

Residential Surge Protection Devices Industry News

• In February 2024, ABB announced that they have acquired SEAM Group. This strategic acquisition is poised to enhance ABB's Electrification portfolio in electrical safety, renewables, and asset management advisory services. With the acquisition, ABB aims to meet the escalating demand for modernizing and optimizing assets for safer, smarter, and more sustainable operations.
   
• In November 2023, Bourns unveiled its latest innovation, the Model 1260 Series Surge Protective Devices. These AC hybrid SPDs are ingeniously crafted with an advanced MG architecture offering enhanced reliability and safety protection by eliminating leakage or follow-on current, a feat achieved through the architecture's innovative design. It is engineered for high-risk electrical service entrances, branch panels, heavy industrial systems, EV charging stations, it stands out for its robust capabilities.
   

The residential surge protection devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of “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