Global Surge Protection Devices Market Overview:
As per MRFR analysis, the Surge Protection Devices Market Size was estimated at 2.58 (USD Billion) in 2023. The Surge Protection Devices Market Industry is expected to grow from 2.74 (USD Billion) in 2024 to 5.5 (USD Billion) by 2035. The Surge Protection Devices Market CAGR (growth rate) is expected to be around 6.53% during the forecast period (2025 - 2035).
Key Surge Protection Devices Market Trends Highlighted
The Surge Protection Devices Market is experiencing several notable trends primarily driven by increasing reliance on electronic equipment and the constant need for electrical safety. As digital transformation accelerates across sectors such as telecommunications, data centers, and renewable energy, the demand for surge protection devices is also rising. Governments globally are placing greater emphasis on regulating electrical safety standards, driving the adoption of advanced surge protection solutions. Another significant trend in recent years is the growing awareness and importance of protecting sensitive electronics from voltage spikes.
The risk of transient voltage interruptions has increased as industries undergo digital transformation, prompting businesses to invest significantly in protection devices to prevent costly damages. The vulnerability of electrical systems to surges has been underscored by the increasing frequency of natural disasters and extreme weather conditions, which have further fuelled this trend. The integration of sophisticated technologies is a significant factor in the expansion of opportunities in the Surge Protection Devices Market.
The transition to smart households and IoT devices offers a distinctive opportunity for manufacturers to create innovative surge protection solutions that are specifically designed for these applications. Furthermore, the expansion of infrastructure initiatives in emerging markets offers a valuable foundation for surge protection solutions. In order to fortify their market position, manufacturers may consider establishing partnerships with critical sectors, including renewable energy and construction. In conclusion, the Surge Protection Devices Market is influenced by the evolution of technology trends, regulatory support, and increased safety awareness. These factors establish a favorable environment for expansion, allowing stakeholders to capitalize on the emerging opportunities for innovative protective solutions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Surge Protection Devices Market Drivers
Increasing Demand for Electric Vehicles and Charging Stations
The rapid growth of electric vehicles (EVs) has significantly increased the demand for surge protection devices, particularly in public and private charging stations. Global electric vehicle sales reached approximately 6.6 million units in 2021, with projections indicating that this number will continue to rise due to stricter emissions regulations and increasing consumer preference for sustainable options. Organizations such as the International Energy Agency (IEA) indicate that to meet net-zero emissions by 2050, electric vehicles could represent up to 60% of total vehicle sales globally by that date. This surge in electric vehicle usage elevates the need for robust surge protection solutions to safeguard the associated charging infrastructure, creating a substantial growth opportunity in the Surge Protection Devices Market Industry.
Rising Number of Infrastructure Projects Globally
A surge in infrastructure development projects worldwide, driven by government initiatives and increased investment in urbanization, presents a significant opportunity for the Surge Protection Devices Market Industry. Various governments are committing to extensive infrastructure plans, such as the United States with its bipartisan infrastructure law, which allocates over 1 trillion USD for transportation and utilities. The global construction market is expected to reach about 8.5 trillion USD by 2030. This growth necessitates the incorporation of surge protection devices to ensure the resilience and longevity of electrical systems in new facilities, thereby driving market growth.
Increased Awareness of Cybersecurity in Smart Homes
As homeowners embrace smart technologies, the need for cybersecurity in smart home devices becomes critical. A report from the Global Information Security Agency indicates that cyberattacks on smart home devices have increased by over 50% over the past two years. This rise has led to heightened awareness among consumers regarding the importance of protective measures, including surge protection devices, to safeguard their investments. As smart home installations are expected to reach 1.3 billion units globally by 2025, the demand for surge protection solutions designed to defend against electrical surges is similarly anticipated to increase in the Surge Protection Devices Market Industry.
Surge Protection Devices Market Segment Insights:
Surge Protection Devices Market Type Insights
The Surge Protection Devices Market segmentation by Type showcases a diverse range of products designed to protect electrical systems from voltage spikes. By 2024, the overall market is valued at 2.74 USD Billion, reflecting significant investment in surge protection technologies. Among the key products, Metal Oxide Varistors command a strong position, valued at 0.8 USD Billion, and are projected to reach 1.6 USD Billion by 2035. The prominence of Metal Oxide Varistors stems from their widespread use in various applications, providing reliable over-voltage protection and making them a choice for both consumer and industrial electronics.
Transient Voltage Suppressors also contribute significantly to the market with a valuation of 0.67 USD Billion in 2024, which is expected to grow to 1.34 USD Billion in 2035. Their ability to respond quickly to voltage transients makes them essential for sensitive electronic devices. Furthermore, Gas Discharge Tubes, valued at 0.54 USD Billion in 2024, are projected to double their market presence to 1.08 USD Billion by 2035, primarily due to their effectiveness in protecting telecommunications and power distribution systems from high-energy surges.
Surge Protective Devices with Integrated Circuits, valued at 0.73 USD Billion in 2024 and expected to grow to 1.48 USD Billion by 2035, represent a modern solution that incorporates smart technologies for enhanced performance. This segment's growth is attributed to the increasing demand for integrated solutions that offer both surge protection and innovative features such as remote monitoring. Overall, the Surge Protection Devices Market is driven by the growing awareness of the need for protection against surges and the ongoing advancements in technology that propel the development of these protective devices, creating opportunities for growth in an increasingly electrified world.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Surge Protection Devices Market Application Insights
The Surge Protection Devices Market is witnessing significant growth within the Application segment, expected to reach a valuation of 2.74 USD Billion in 2024 and scale to 5.5 USD Billion by 2035. This segment encompasses various applications, including Residential, Commercial, Industrial, and Telecommunications, each playing a crucial role in protecting electrical systems from voltage surges. The Residential application is vital as it safeguards homes against lightning strikes and electrical malfunctions, contributing to consumer safety and reducing property damage.
Similarly, the Commercial sector prioritizes surge protection to ensure the reliability of operations, preventing costly disruptions. The Industrial segment is characterized by high-value machinery and sensitive equipment, where surge protection is essential to maintain productivity and safety standards. Telecommunications also play a pivotal role as they require uninterrupted service; thus, surge protection devices are critical to shield communication networks from electrical disturbances. The ongoing advancement in smart technologies and increasing adoption in various sectors underscore the importance of surge protection, driving market growth and innovation in the Surge Protection Devices Market. Overall, the significant demand across these applications reflects the necessity of ensuring equipment longevity and operational reliability in the face of rising electrical threats.
Surge Protection Devices Market End Use Insights
The Surge Protection Devices Market, valued at 2.74 USD Billion in 2024, demonstrates significant growth opportunities across various end use areas, particularly in Consumer Electronics, Power Distribution, IT and Telecom, and Healthcare. Consumer Electronics remains a driving force, as the increasing dependence on electronic devices heightens the need for robust protection solutions. In Power Distribution, the integration of smart grid technologies is propelling demand for surge protection to safeguard against electrical faults. IT and Telecom infrastructure, pivotal for seamless connectivity, also requires advanced surge protection to minimize downtime and losses from power surges.
Meanwhile, the Healthcare sector necessitates utmost reliability in electrical supply to ensure continuous operation of sensitive medical equipment, thus creating a demand for specialized surge protection. The overall market growth is supported by rising awareness regarding the consequences of power surges in these critical sectors, alongside advancements in technology. The significant focus on sustainability and energy efficiency also presents opportunities for growth as stakeholders increasingly incorporate surge protection devices into eco-friendly designs. Collectively, these trends underscore the essential role of surge protection devices in safeguarding equipment and enhancing infrastructure resilience globally.
Surge Protection Devices Market Product Class Insights
The Surge Protection Devices Market is expected to reach a valuation of 2.74 billion USD in 2024, reflecting steady growth driven by increasing reliance on electronic devices and the need for circuit protection against unexpected voltage spikes. Within the Product Class, the market can be categorized into Plug-in Devices, Hardwired Devices, and Power Strip Devices, each contributing significantly to the overall landscape. Plug-in Devices are essential for household and commercial use, providing a straightforward solution to surge protection.
Hardwired Devices, on the other hand, offer a more permanent solution, integrated within electrical systems and catering to industrial applications, thus ensuring reliable protection for larger installations. Power Strip Devices dominate the consumer market, combining multiple outlets with surge protection, making them widely popular in both residential and office environments. These various formats cater to diverse consumer needs and applications, driving the growth of the Surge Protection Devices Market. The combination of increasing electrical appliances in homes and businesses, alongside rising awareness of the importance of surge protection, continues to propel market growth as consumers seek out protective solutions that enhance the safety and durability of their devices.
Surge Protection Devices Market Regional Insights
The Surge Protection Devices Market is exhibiting significant growth across various regions, with the overall market valued at 2.74 USD Billion in 2024 and projected to reach 5.5 USD Billion by 2035. North America leads the market with a valuation of 0.913 USD Billion in 2024, representing a majority holding due to its established infrastructure and demand for advanced electrical systems, further increasing to 1.833 USD Billion by 2035. Europe follows with a valuation of 0.685 USD Billion in 2024, driven by stringent regulations surrounding electrical safety, and is expected to reach 1.375 USD Billion by 2035.
The APAC region, valued at 0.609 USD Billion in 2024, is experiencing rapid urbanization and industrial growth, promoting a surge in demand towards 1.222 USD Billion by 2035. South America and MEA, while at relatively smaller valuations of 0.304 USD Billion and 0.228 USD Billion in 2024, are expected to expand, reaching 0.688 USD Billion and 0.382 USD Billion, respectively, by 2035. The growth in these regions is facilitated by increasing investments in infrastructure and the need for reliable power systems, positioning them as important players in the Surge Protection Devices Market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Surge Protection Devices Market Key Players and Competitive Insights:
The Surge Protection Devices Market is characterized by a diverse range of players competing to capture market share through innovation, quality, and customer support. As the reliance on electronic devices and systems grows, the demand for effective surge protection becomes increasingly critical across various sectors, including residential, commercial, and industrial applications. Understanding competitive dynamics in this market reveals strategic positioning among companies, with a mix of established players and emerging firms vying for consumer attention. Competitive insights highlight key trends such as technological advancements, market consolidation, and shifts in consumer preferences that are shaping the evolution of surge protection devices globally.
Companies are increasingly focusing on product differentiation, sustainability, and compliance with international standards to enhance their competitive edge.ABB is a notable player in the Surge Protection Devices Market, known for its robust engineering and innovative solutions. The company has solidified its market presence through a combination of historical expertise and a strong commitment to research and development.
ABB's strengths lie in its ability to provide high-quality, reliable surge protection devices that cater to a wide range of applications, from industrial machinery to residential settings. Their extensive global distribution network ensures that products are accessible to customers worldwide, enhancing brand visibility and market penetration. Moreover, ABB focuses on forming strategic alliances and partnerships to boost its product offerings and leverage synergies in technology and market reach, positioning itself as a leading provider in the surge protection domain.
Belkin has established itself as a reputable brand in the Surge Protection Devices Market, particularly known for its focus on consumer electronics and smart home solutions. The company provides a variety of surge protectors designed to meet the needs of modern electronic devices, integrating advanced features that appeal to tech-savvy consumers. Belkin's product line includes smart surge protectors and power strips that offer significant advantages, such as USB ports for charging and smart technology that enables remote management.
The company has a strong market presence driven by its innovative approach to product design and functionality. Additionally, Belkin has engaged in strategic mergers and acquisitions to diversify its product portfolio and enhance its competitive advantage in the global market. This approach allows Belkin to cater to a broader audience while maintaining its reputation for quality and reliability in surge protection solutions.
Key Companies in the Surge Protection Devices Market Include:
- ABB
- Belkin
- CyberPower Systems
- CP Electronics
- Tripp Lite
- Phoenix Contact
- Socomec
- Eaton
- APC by Schneider Electric
- Schneider Electric
- Mersen
- Leviton
- Siemens
- Emerson Electric
- General Electric
Surge Protection Devices Market Industry Developments
The Surge Protection Devices Market has seen significant activity recently, with key players such as ABB, Belkin, CyberPower Systems, CP Electronics, Tripp Lite, Phoenix Contact, Socomec, Eaton, APC by Schneider Electric, Schneider Electric, Mersen, Leviton, Siemens, and Emerson Electric making headlines. In July 2023, Eaton announced the launch of new energy-efficient surge protection solutions aimed at enhancing the safety of electrical systems in commercial buildings, responding to the increased demand for reliable electrical infrastructure. Additionally, major acquisitions have been reported, with Schneider Electric acquiring a key technology company specializing in smart energy solutions in August 2023.
The market has experienced robust growth, attributed to the rising need for reliable surge protection in various industries, propelled by increased digital transformation and the reliance on electronic devices. Noteworthy events from the past few years include the surge in home automation technologies leading to higher adoption of surge protection devices in residential applications, particularly during 2022. This uptick in demand has fundamentally changed how companies approach product offerings and innovation in surge protection technology on a global scale.
Surge Protection Devices Market Segmentation Insights
Surge Protection Devices Market Type Outlook
- Metal Oxide Varistors
- Transient Voltage Suppressors
- Gas Discharge Tubes
- Surge Protective Devices with Integrated Circuits
Surge Protection Devices Market Application Outlook
- Residential
- Commercial
- Industrial
- Telecommunications
Surge Protection Devices Market End Use Outlook
- Consumer Electronics
- Power Distribution
- IT and Telecom
- Healthcare
Surge Protection Devices Market Product Class Outlook
- Plug-in Devices
- Hardwired Devices
- Power Strip Devices
Surge Protection Devices Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric Source: |
Details |
| MARKET SIZE 2023 |
2.58 (USD Billion) |
| MARKET SIZE 2024 |
2.74 (USD Billion) |
| MARKET SIZE 2035 |
5.5 (USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) |
6.53% (2025 - 2035) |
| REPORT COVERAGE |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR |
2024 |
| MARKET FORECAST PERIOD |
2025 - 2035 |
| HISTORICAL DATA |
2019 - 2024 |
| MARKET FORECAST UNITS |
USD Billion |
| KEY COMPANIES PROFILED |
ABB, Belkin, CyberPower Systems, CP Electronics, Tripp Lite, Phoenix Contact, Socomec, Eaton, APC by Schneider Electric, Schneider Electric, Mersen, Leviton, Siemens, Emerson Electric, General Electric |
| SEGMENTS COVERED |
Type, Application, End Use, Product Class, Regional |
| KEY MARKET OPPORTUNITIES |
Increased infrastructure investments, Rising demand for renewable energy, Growth in consumer electronics, Expanding residential construction projects, Stringent safety regulations compliance |
| KEY MARKET DYNAMICS |
Increasing electrical device usage, Stringent safety regulations, Growing renewable energy adoption, Rising infrastructure investments, Advancements in technology |
| COUNTRIES COVERED |
North America, Europe, APAC, South America, MEA |
Surge Protection Devices Market Highlights:
Frequently Asked Questions (FAQ) :
The Surge Protection Devices Market is expected to be valued at 2.74 USD billion in 2024.
The expected CAGR for the Surge Protection Devices Market from 2025 to 2035 is 6.53 percent.
In 2024, North America holds the largest market value for Surge Protection Devices at 0.913 USD billion.
The projected market value for the Gas Discharge Tubes segment in 2035 is 1.08 USD billion.
Major players in the Surge Protection Devices Market include ABB, Belkin, CyberPower Systems, Eaton, and Schneider Electric.
The projected market value for Metal Oxide Varistors in 2024 is 0.8 USD billion.
The Asia-Pacific (APAC) region is expected to show significant growth by 2035, with a projected market value of 1.222 USD billion.
The market value of Surge Protective Devices with Integrated Circuits is projected to be 1.48 USD billion in 2035.
The expected market size for the Transient Voltage Suppressors segment in 2024 is 0.67 USD billion.
Potential challenges impacting the growth of the Surge Protection Devices Market may include technological advancements and regulatory changes.
