Global Surge Protection Devices Market Expands with Hard Wired Surge Protection Devices Segment at a robust CAGR

The increasing global surge protection devices market is driven by increasing reliance on electronic devices and critical infrastructure, increasing frequency of severe weather Events during the forecast period 2024-2028.

 

According to TechSci Research report, “Global Surge Protection Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028, The Global Surge Protection Devices (SPD) Market is witnessing robust growth driven by a confluence of factors that underscore the critical importance of safeguarding electronic equipment and critical infrastructure from voltage surges and transient disturbances. As our reliance on electronic devices continues to grow across industries and households, the need for effective surge protection has become paramount. SPDs serve as the first line of defense against sudden voltage spikes, lightning strikes, and electrical anomalies, preventing costly equipment damage, downtime, and data loss. This thriving market encompasses a range of components, including Suppressors (Metal Oxide Varistors or MOVs), Gas Discharge Tubes (GDTs), Surge Arrestors, and others. Among these components, Suppressors, renowned for their versatility and rapid response times, dominate the market. They can absorb excess electrical energy and divert it safely to the ground, ensuring the protection of sensitive electronic devices. Suppressors are deployed across a wide spectrum of applications, from residential settings to industrial complexes, and they play a crucial role in maintaining the integrity of electrical systems.The dominance of Suppressors is further accentuated by the diversity of power range categories available. The "100 KA to 500 KA" range, in particular, offers a balanced surge protection solution that caters to various applications and voltage levels. These SPDs are versatile, cost-effective, and reliable, making them a preferred choice for industries seeking effective surge protection measures.

Geographically, North America stands at the forefront of the SPD market, driven by its technological innovation, stringent regulatory standards, and extensive industrial infrastructure. The region has also witnessed an upswing in awareness regarding electrical safety, further bolstering the demand for surge protection solutions. Meanwhile, the Asia-Pacific region is emerging as a high-growth market, buoyed by rapid urbanization, infrastructure development, and a burgeoning consumer electronics market.Other drivers propelling the market forward include the increasing frequency of severe weather events, technological advancements in SPDs (such as smart features and remote monitoring), and the growing vulnerability of IoT and smart grid systems to voltage surges. As industries and consumers become increasingly aware of the risks posed by voltage surges and the benefits of surge protection, the global SPD market is poised to continue its expansion, ensuring the reliability and safety of electrical and electronic systems in an interconnected world.

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global Surge Protection Devices Market."

 

The global surge protection devices market is segmented into type, power range, component, end use, and region. Based on type, the market is segmented into hard wired surge protection devices, plug in surge protection devices, line cord surge protectors, power control devices. Based on power range, the market is segmented into below 100 KA, 100 KA to 500 KA, 500 KA to 1000 KA, Above 1000 KM. Based on component, the market is segmented into suppressor, gas discharge tube, surge arrestor, others. Based on end use, the market is segmented into residential, industrial, commercial. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, Middle East & Africa.

Based on type, hard wired surge protection devices dominated in the global surge protection devices market in 2022. Hard wired surge protection devices find applications in a broad range of critical settings, including industrial facilities, commercial buildings, data centers, and healthcare institutions. These environments require robust and continuous surge protection to safeguard sensitive electronic equipment and maintain uninterrupted operations.

Hard wired SPDs are typically integrated directly into the electrical panel or distribution board of a building. This integration ensures comprehensive protection at the point where electrical power enters the facility, safeguarding the entire electrical infrastructure. It offers a holistic approach to surge protection, making it the preferred choice for organizations seeking thorough protection.

Hard wired SPDs often have higher surge current handling capacities compared to other types of SPDs. This capability is critical in environments where the potential for larger surges exists, such as industrial settings or regions prone to severe weather events with frequent lightning strikes.

 

Key market players in the global Surge Protection Devices market are: -

• ABB Ltd.
• Eaton Corporation PLC
• Emerson Electric Co.
• General Electric Company
• Littelfuse, Inc.
• Schneider Electric SE
• Siemens AG
• Belkin International Inc.
• Tripp Lite LLC
• Rev Ritter GmbH

 

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“The Global Surge Protection Devices (SPD) Market is thriving as the reliance on electronic equipment and critical infrastructure escalates. SPDs are crucial in protecting against voltage surges and transient disturbances, preventing costly damage and downtime. Dominated by versatile components like Suppressors (MOVs), this market offers diverse power range categories, with "100 KA to 500 KA" being prominent. North America leads, driven by technological innovation and stringent standards, while the Asia-Pacific region sees rapid growth due to urbanization and infrastructure development. With the increasing frequency of severe weather events and technological advancements in SPDs, the global market is poised for continued expansion to safeguard electronic systems worldwide.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Surge Protection Devices Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Hard Wired Surge Protection Devices, Plug in Surge Protection Devices, Line Cord Surge Protectors, Power Control Devices), By Power Range (Below 100 KA, 100 KA to 500 KA, 500 KA to 1000 KA, Above 1000 KM), By Component (Suppressor, Gas Discharge Tube, Surge Arrestor, Others), By End Use (Residential, Industrial, Commercial), By Region, and By Competition, 2018-2028,” has evaluated the future growth potential of Global Surge Protection Devices Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Surge Protection Devices Market.

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