Surge Protection Devices Market Summary
As per MRFR Analysis, the Surge Protection Devices Market was valued at 2.58 USD Billion in 2023 and is projected to grow to 5.5 USD Billion by 2035, with a CAGR of 6.54% from 2025 to 2035. The market is driven by increasing reliance on electronic equipment, regulatory emphasis on electrical safety, and the need to protect sensitive electronics from voltage spikes. The rise in electric vehicle usage and infrastructure projects globally further fuels demand for surge protection solutions.
Key Market Trends & Highlights
The Surge Protection Devices Market is witnessing several key trends.
- The market is expected to grow from 2.74 USD Billion in 2024 to 5.5 USD Billion by 2035.
- Electric vehicle sales reached approximately 6.6 million units in 2021, driving surge protection demand.
- Smart home installations are projected to reach 1.3 billion units globally by 2025, increasing the need for surge protection.
- Metal Oxide Varistors are expected to grow from 0.8 USD Billion in 2024 to 1.6 USD Billion by 2035.
Market Size & Forecast
2023 Market Size: USD 2.58 Billion
2024 Market Size: USD 2.74 Billion
2035 Market Size: USD 5.5 Billion
CAGR (2025-2035): 6.54%
Largest Regional Market Share in 2024: North America.
Major Players
Key players include ABB, Belkin, CyberPower Systems, Eaton, Schneider Electric, and Tripp Lite.
Key Surge Protection Devices Market Trends Highlighted
The Surge Protection Devices Market is growing quickly because more people are becoming conscious of electrical safety, and power surges are happening more often. As electrical systems became more complicated and relied on delicate technology, both consumers and companies have made surge prevention a top issue. The growth of smart homes and businesses is one of the main factors driving the market. Surge protection is especially important for protecting electronic equipment and keeping operations running smoothly. Also, the rising need for energy-efficient solutions makes the need for better surge protection systems even stronger. These systems also help people use less energy.
The renewable energy market is moving quickly, and there are many chances to become involved. As solar and wind energy systems become more common across the world, there is great market potential for strong surge protection to keep these systems safe. Also, as more charging stations for electric vehicles are built, there is a need for specific surge protection devices to make sure that these stations work safely. In the Surge Protection Devices Market, one trend that has been growing in recent years is the use of IoT technology in surge protection devices. These smart gadgets can be monitored and managed from afar, which increases their usefulness.
Additionally, as rules and regulations change, governments throughout the globe are making it harder to construct electrical systems, which is driving the use of surge protection devices in a number of regions. These trends and expectations fit well with the drive for sustainable development, which creates a good climate for growth in the surge protection industry throughout the world.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Surge Protection Devices Market Drivers
Increasing Adoption of Renewable Energy Sources
The shift towards renewable energy sources such as solar and wind power is significantly driving the Surge Protection Devices Market Industry. As the number of installations increases globally, so does the need for effective surge protection to safeguard sensitive equipment from electrical surges. According to the International Renewable Energy Agency (IRENA), global renewable power generation capacity reached approximately 2,799 gigawatts in 2021, reflecting a growth rate of over 10 percent from the previous year.
This surge in capacity highlights the need for surge protection devices to protect the renewable energy infrastructure from electrical disturbances. Major players in the renewable energy sector, like Siemens and Schneider Electric, have introduced advanced surge protection solutions specifically tailored for these installations. As renewable energy continues to expand, the demand for protective devices will likely grow correspondingly, positioning the Surge Protection Devices Market for sustainable growth.
Increasing Urbanization and Infrastructure Development
Urbanization is a major driver of the Surge Protection Devices Market Industry. Rapid urban development leads to increased electrical consumption and the installation of high-tech equipment, which, in turn, necessitates reliable surge protection solutions. The United Nations estimates that urban populations will grow by 2.5 billion by 2050, resulting in concentrated demand for electricity and advanced infrastructure. Governments globally are investing heavily in smart city initiatives aimed at improving energy efficiency and ensuring infrastructure resilience.
Notable organizations such as the World Bank are supporting urban projects that necessitate protective technology, thereby directly impacting the demand for surge protection devices. This growing urbanization trajectory highlights a significant market opportunity in the surge protection industry as urban centers continue to evolve.
Rising Incidents of Power Surges
The increasing frequency of power surges and electrical disturbances presents a critical driver for the Surge Protection Devices Market Industry. Research from the U.S. Department of Energy indicates that power surges can lead to equipment damage, with estimates suggesting that up to 25 percent of equipment failures are attributable to these surges. Such statistics underline the pressing need for surge protection solutions across various sectors, including residential, commercial, and industrial.
Well-known suppliers like Eaton Corporation and ABB have intensified their efforts to provide advanced protection technology in response to these challenges. As the risks associated with power surges become more pronounced, organizations around the globe are increasingly recognizing the need for effective surge protection, thus fueling market growth.
Surge Protection Devices Market Segment Insights
Surge Protection Devices Market Application Insights
The Application segment of the Surge Protection Devices Market exhibits a comprehensive and diversified landscape as it encompasses various essential areas such as Residential, Commercial, Industrial, and Telecommunications. By 2024, this segment is expected to significantly contribute to the overall market, which is projected to be valued at 2.74 USD Billion. The Residential application alone commands a considerable share, with a valuation of 1.2 USD Billion in 2024, and is anticipated to rise to 2.45 USD Billion by 2035. This strong growth trajectory underscores the increasing demand for reliable surge protection in households, driven by the proliferation of electronic devices and the necessity to safeguard electrical and electronic equipment from voltage spikes.
The Commercial application segment is also noteworthy, valued at 0.8 USD Billion in 2024, and expected to grow to 1.7 USD Billion in 2035. This growth can be attributed to the need for businesses to protect their investments in technology and infrastructure, which often include sensitive equipment that could be disrupted by power surges. Additionally, the Industrial application, which is projected to grow from 0.5 USD Billion in 2024 to 1.1 USD Billion in 2035, reflects the importance of surge protection in manufacturing and production environments where heavy machinery and complex systems are prevalent.
The Telecommunications sector, although relatively smaller, with a market valuation of 0.24 USD Billion in 2024 and reaching 0.3 USD Billion by 2035, remains crucial as communication infrastructures require consistent and uninterruptible power supply systems to function effectively. Overall, the segmentation within the Surge Protection Devices Market clearly indicates that the Residential and Commercial applications dominate the market, accounting for the majority holding due to their higher valuations and significant growth rates, while the Industrial and Telecommunications sectors play vital roles in enhancing the resilience of their respective industries against electrical anomalies.
As technological advancements continue and the demand for continuous and safe power supply grows, the surge protection devices across these applications become increasingly significant in ensuring operational continuity and safeguarding investments. The expected expansion of this segment highlights the vast opportunities present in various sectors to improve electrical safety and reliability globally.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Surge Protection Devices Market Type Insights
The Surge Protection Devices Market, valued at 2.74 USD Billion in 2024, comprises various types of devices critical for safeguarding electrical equipment from voltage surges. This market includes diverse categories like Metal Oxide Varistors, Transient Voltage Suppressors, Gas Discharge Tubes, and Surge Protective Devices with Integrated Circuits. Metal Oxide Varistors play a significant role in absorbing high voltage surges, making them essential for protecting sensitive electronic components, while Transient Voltage Suppressors are increasingly favored in consumer electronics due to their rapid response time and reliability.
Gas Discharge Tubes are well-regarded for their robustness and effectiveness in high voltage applications, contributing greatly to industrial safety. Surge Protective Devices with Integrated Circuits are gaining traction within the telecommunications and IT sectors, driven by the rise in digital devices requiring enhanced protection. The importance of these categories stems from their ability to prevent damage and ensure the longevity of electrical systems, thus driving market growth. Overall, the Surge Protection Devices Market segmentation reveals a dynamic landscape where each type substantially contributes to the increasing demand for enhanced electrical safety solutions across multiple sectors.
Surge Protection Devices Market End Use Insights
The Surge Protection Devices Market is experiencing substantial growth, driven by increasing demand across various sectors. By 2024, this market is expected to reach a value of 2.74 billion USD, reflecting its critical role in ensuring the integrity of electrical systems. Within the End Use segment, major categories such as Consumer Electronics, Power Distribution, IT and Telecom, and Healthcare are pivotal. Consumer Electronics remains a significant area due to the rising adoption of smart devices that require effective surge protection to avoid damage from voltage spikes.
Power Distribution systems also hold substantial importance as they facilitate the reliable supply of electricity, making surge protection devices essential for safeguarding infrastructure. The IT and Telecom sector benefits from surge protection to ensure uninterrupted communications and data integrity, which has become crucial in today’s technology-driven world. Furthermore, the Healthcare sector's reliance on advanced medical devices underscores the need for protection against electrical surges that could compromise equipment functionality and patient safety.
These drivers reflect the diverse applications and the necessity of surge protection solutions in maintaining operational efficiency and reliability across these industries within the Surge Protection Devices Market.
Surge Protection Devices Market Product Class Insights
The Surge Protection Devices Market continues to expand, with a projected value of 2.74 USD Billion in 2024. The market encompasses distinct categories, including Plug-in Devices, Hardwired Devices, and Power Strip Devices. Each category plays a vital role in safeguarding electronic equipment against voltage spikes, thereby enhancing the reliability of electrical systems. Plug-in Devices are widely recognized for their convenience and deployment in residential settings, while Hardwired Devices are often favored for their robustness and use in commercial infrastructures.
Power Strip Devices also hold significant market presence, combining surge protection with multiple outlets for enhanced efficiency. The growth in the use of electronic devices in various sectors is a key driver for the surge protection devices market. Furthermore, the increasing demand for high-performance electronics and the proliferation of smart homes have created a conducive environment for market growth. Nevertheless, challenges such as the need for regular maintenance and compliance with safety standards remain present. The market opportunities are vast, particularly as consumer awareness about electrical safety continues to rise, thereby shaping a promising future for the Surge Protection Devices Market.
Surge Protection Devices Market Regional Insights
The Surge Protection Devices Market is experiencing significant growth driven by increasing demand for electrical safety measures across various sectors. In 2024, North America leads the market with a valuation of 1.0 USD Billion, demonstrating its majority holding due to advanced infrastructure and stringent safety regulations. Europe follows with a valuation of 0.8 USD Billion, driven by growing awareness about electronic device protection against voltage spikes. South America is valued at 0.3 USD Billion, reflecting a growing market outlook as investment in electrical infrastructure increases.
The Asia Pacific region, valued at 0.5 USD Billion, is anticipated to grow rapidly, fueled by industrialization and urbanization, making it a significant area for market expansion. Meanwhile, the Middle East and Africa represent the smallest segment with a valuation of 0.14 USD Billion, although this region is gaining attention for its potential growth due to increasing industrial activities. Collectively, the regional dynamics highlight varying levels of investment and demand, influenced by economic growth, regulatory frameworks, and awareness of electronics safety, positioning the Surge Protection Devices Market for robust development in the coming years.
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 dynamic landscape where numerous players compete to capture market share through innovative solutions and strategic positioning. Surge protection devices are critical in safeguarding electrical equipment from voltage spikes that can cause significant damage. The market's competitive insights reveal trends driven by technological advancements, varying regulatory standards, and the increasing demand for energy efficiency in various sectors, including residential, commercial, and industrial applications. Companies are focusing on enhancing product features such as response times, energy efficiency, and reliability to differentiate themselves. Additionally, collaborations and partnerships are emerging as common strategies to expand geographical presence and enhance distribution networks, making the competitive environment increasingly robust.
ABB has established a strong presence in the Surge Protection Devices Market due to its comprehensive portfolio of high-quality products designed to ensure optimal protection against transients and surges. The company leverages its expertise in electrical engineering and automation to provide innovative solutions that cater to various customer needs, from residential to large-scale industrial applications. ABB's strengths lie in its commitment to research and development, enabling the introduction of advanced technologies such as real-time monitoring and predictive maintenance features, which enhance the performance of surge protection devices. The company has a well-established global footprint, allowing it to navigate diverse markets efficiently while addressing local regulations and customer demands across regions. ABB's brand reputation for reliability and quality significantly contributes to its competitive edge in this market.
CyberPower Systems has carved out a notable niche in the Surge Protection Devices Market, primarily focusing on providing solutions that combine reliability with cost-effectiveness. The company offers a range of surge protection devices that cater to both individual consumers and businesses, ensuring that their products meet the evolving demands of the marketplace. CyberPower Systems' strengths include an emphasis on user-friendly designs, comprehensive customer support, and a commitment to sustainability in its manufacturing processes. The company has also engaged in strategic mergers and acquisitions to bolster its capabilities and expand its product portfolio. By aligning its offerings with the growing demand for energy-efficient solutions, CyberPower Systems has positioned itself effectively within global markets. Its innovative approach, alongside its customer-centric strategies, has enabled the company to maintain competitiveness in dynamic market conditions.
Key Companies in the Surge Protection Devices Market Include:
- ABB
- CyberPower Systems
- General Electric
- Mitsubishi Electric
- Tripp Lite
- Belkin
- Panasonic
- Schneider Electric
- Leviton Manufacturing
- Siemens
- Eaton
- Phoenix Contact
- Mersen
- Emerson Electric
Surge Protection Devices Market Industry Developments
The Surge Protection Devices Market continues to evolve with significant developments and current affairs shaping its trajectory. Several major companies, including ABB, CyberPower Systems, General Electric, Mitsubishi Electric, Tripp Lite, Belkin, and Control, Panasonic, Schneider Electric, Leviton Manufacturing, Siemens, Eaton, Phoenix Contact, Mersen, and Emerson Electric, are actively enhancing their product offerings and market positions.Â
Recent notable developments include a spike in market valuation driven by increased demand for protection against electrical surges, attributed to the growing reliance on electronic devices and the expansion of data centers. Over the past two years, particularly in March 2022, Siemens announced the expansion of its surge protection product line, focusing on residential and commercial applications. This strategic initiative aims to leverage the growing market opportunities amid heightened awareness of electrical safety.Â
Furthermore, in July 2023, Schneider Electric completed the acquisition of an emerging technology company to bolster its capabilities in power management solutions, reinforcing its commitment to safety and reliability in surge protection devices. These dynamics highlight the ongoing innovations and strategic movements within the Surge Protection Devices Market, emphasizing its critical role in advancing electrical safety standards.
Surge Protection Devices Market Segmentation Insights
Surge Protection Devices Market Application Outlook
- Residential
- Commercial
- Industrial
- Telecommunications
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 End Use Outlook
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
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Report Attribute/Metric
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Details
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Market Size 2023
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2.58 (USD Billion)
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Market Size 2024
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2.74 (USD Billion)
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Market Size 2035
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5.5 (USD Billion)
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Compound Annual Growth Rate (CAGR)
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6.54% (2025 - 2035)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2024
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Market Forecast Period
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2025 - 2035
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Historical Data
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2019 - 2024
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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ABB, CyberPower Systems, General Electric, Mitsubishi Electric, Tripp Lite, Belkin, Panasonic, Schneider Electric, Leviton Manufacturing, Siemens, Eaton, Phoenix Contact, Mersen, Emerson Electric
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Segments Covered
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Application, Type, End Use, Product Class, Regional
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Key Market Opportunities
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Rising demand in renewable energy, Growing smart home technology adoption, Increased awareness of electrical safety, Expansion in emerging markets, Technological advancements in SPD design
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Key Market Dynamics
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Increasing demand for renewable energy, Growing electronic device usage, Strict regulatory standards, Rising infrastructure investment, Technological advancements in protection devices
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Countries Covered
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North America, Europe, APAC, South America, MEA
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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.
By 2035, the Surge Protection Devices Market is anticipated to reach a value of 5.5 USD Billion.
The expected CAGR for the Surge Protection Devices Market from 2025 to 2035 is 6.54%.
North America is expected to have the largest market value for Surge Protection Devices, estimated at 1.0 USD Billion in 2024.
The European Surge Protection Devices Market is projected to reach a value of 1.75 USD Billion by 2035.
The Residential segment of the Surge Protection Devices Market is valued at 1.2 USD Billion in 2024.
The Industrial surge protection devices market is projected to be valued at 1.1 USD Billion by 2035.
Major players in the Surge Protection Devices Market include ABB, CyberPower Systems, General Electric, and Mitsubishi Electric among others.
The Telecommunications application segment is expected to be valued at 0.3 USD Billion by 2035 in this market.
The Surge Protection Devices Market is expected to experience growth due to the increasing demand for electrical safety and protection.
