Home > Energy & Power > Electrical Equipment > Surge Protection Devices > Surge Protection Devices Market

Surge Protection Devices Market Trends

Report ID: GMI6958
Published Date: Oct 2023
Report Format: PDF

Download Free Sample

Surge Protection Devices Market Trends

The proliferation of smart homes and the Internet of Things (IoT) has led to a surge in demand for surge protection devices for wide tandem of application areas. These devices help protect smart appliances, entertainment systems, and interconnected devices from power fluctuations. Increasing applicability across industrial settings to protect critical machinery, control systems, and automation equipment. As industries become more reliant on automation and advanced technology, the demand for robust surge protection solutions continues to rise.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market valuation of surge protection devices was worth USD 3.4 billion in 2023 and is estimated to surpass USD 5.8 billion by 2032, owing to the proliferation of electronics in both residential and commercial settings.

The plug-in surge protection devices market held a share of over 40% in 2022, favored by the increasing disposable income along with wide scale adoption of electronic devices in homes and businesses.

Asia Pacific market for surge protection devices was exceeded USD 1.2 billion in 2022, backed by the demand from rapidly expanding data centers across the region, along with stringent government regulations related to electrical safety, voltage fluctuations and surges.

Mercen, Infineon Technologies AG, Philips, JMV, GEYA Electrical Equipment Supply, Rockwell Automation, Hubbell, Belkin, Havells India Ltd., Leviton Manufacturing Co., Inc., Maxivolt, and Phoenix Contact among others.