Power Surge Protective Devices Market was valued at USD 1.8 Billion in 2022 and is projected to reach USD 3.5 Billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030.
The Power Surge Protective Devices Market experienced significant growth from 2018 to 2022, driven by increasing demand for safeguarding electronic appliances against voltage spikes. With a growing reliance on sensitive electronic equipment in both residential and industrial sectors, the market saw steady expansion, reaching an estimated value of $2.5 billion by the end of 2022. The demand was fueled by rapid urbanization, rising awareness of electrical safety, and the proliferation of smart devices that are more vulnerable to power fluctuations.
From 2018 to 2022, North America and Europe led the market due to stringent regulatory standards and a high adoption rate of advanced protective technologies. Asia-Pacific followed closely, spurred by industrial growth in countries like China, India, and Japan. The residential sector accounted for a significant portion of the demand, especially as home automation systems became more prevalent. Manufacturers responded with innovative products featuring improved durability and multi-functional capabilities.
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However, as we move into the forecast period from 2023 to 2033, the Power Surge Protective Devices Market is expected to evolve dramatically. The market is projected to grow at a compound annual growth rate (CAGR) of 6.8%, potentially reaching over $4.5 billion by 2033. This surge is attributed to the increasing frequency of power outages and grid failures due to extreme weather events and the aging infrastructure in many regions.
One key driver will be the integration of renewable energy sources into national grids, creating a complex power environment that demands sophisticated surge protection solutions. Moreover, the rise of electric vehicles and the expansion of 5G networks will also contribute to heightened demand. Industries are focusing on adopting Type 1 and Type 2 surge protective devices to ensure operational continuity and protect critical infrastructure.
The competitive landscape will likely witness new entrants and technological advancements. Companies are expected to prioritize sustainability by developing eco-friendly surge protectors and leveraging IoT for real-time monitoring and predictive maintenance. Consumers, both residential and commercial, will increasingly seek products with smart features, such as remote diagnostics and automated alerts, driving innovation across the sector.
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ABB
Eaton
Emersen Electric
Siemens
Schneider Electric
GE
Littelfuse
Leviton
Tripp Lite
Raycap
Phoenix Contact
Legrand
Citel
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Power Surge Protective Devices Market
Industrial
Residential
Data Center
Medical
Commercial
Military
Others
Based on Types the Market is categorized into Below types that held the largest Power Surge Protective Devices market share In 2023.
Voltage Switch Type
Pressure Limiting Type
Combination Type
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Power Surge Protective Devices Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Power Surge Protective Devices Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Power Surge Protective Devices Market, By Type
6. Global Power Surge Protective Devices Market, By Application
7. Global Power Surge Protective Devices Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Power Surge Protective Devices Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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