Surge Protectors for Industrial Equipment Market size is estimated to be USD 2.3 Billion in 2024 and is expected to reach USD 4.5 Billion by 2033 at a CAGR of 8.3% from 2026 to 2033.
The global surge protectors for industrial equipment market was valued at approximately USD 2.5 billion in 2022 and is projected to reach USD 4.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2030. North America dominated the market in 2022, accounting for over 38% of the global revenue. This leadership is attributed to early adoption of advanced technologies and high awareness about the benefits of surge protection devices (SPDs). The United States, in particular, exhibits significant demand due to substantial electricity consumption in residential and commercial applications, and regions prone to lightning strikes, such as Florida and Louisiana.Asia Pacific is anticipated to experience the highest growth rate during the forecast period. In 2024, the Asia Pacific surge protectors market was valued at USD 678.78 million, representing approximately 23% of the global market, and is expected to grow at a CAGR of 9.0% from 2024 to 2031. This growth is driven by increasing awareness in countries like China, India, and Japan about the advantages of SPDs, coupled with rising disposable incomes facilitating the purchase of premium consumer electronics. In India, the surge protection devices market generated revenue of USD 166.1 million in 2023 and is projected to reach USD 297.8 million by 2030, growing at a CAGR of 8.7% from 2024 to 2030. The expansion of manufacturing sectors and the adoption of automation technologies in these regions further bolster the demand for industrial surge protectors. Europe also holds a significant market share, with countries like Germany, the U.K., and France contributing to the demand due to rapid industrialization and urbanization. citeturn0search7
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ABB
Eaton
Littelfuse
Bourns
Siemens
Schneider Electric
Mersen
Phoenix Contact
Emerson
Rockwell Automation
Raycap
HAKEL
Novaris
Leviton
Hager Electric
Hitachi Energy
Citel
Zhejiang Benyi New Energy
Zhejiang Geya Electrical
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. 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 Surge Protectors for Industrial Equipment Market
Low Voltage Surge Protectors
Medium Voltage Surge Protectors
High Voltage Surge Protectors
Electrical Control Panels
Motors & Drives
Power Distribution Equipment
Industrial Automation Systems
Metal Oxide Varistor (MOV)
Gas Discharge Tube (GDT)
Silicon Avalanche Diode (SAD)
Transient Voltage Suppression (TVS)
Manufacturing
Oil & Gas
Telecommunications
Energy & Power
Standalone Surge Protectors
Integrated Surge Protectors
US (United States, US 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 Surge Protectors for Industrial Equipment 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 Surge Protectors for Industrial Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Surge Protectors for Industrial Equipment Market, By Type
6. Global Surge Protectors for Industrial Equipment Market, By Application
7. Global Surge Protectors for Industrial Equipment Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Surge Protectors for Industrial Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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