SURGE PROTECTION DEVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Surge Protection Devices Market Size and Trends

The surge protection devices Market size is valued at US$ 4.11 Billion in 2024 and is expected to reach US$ 7.39 Billion by 2031, growing at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.

Surge protection devices are equipment used to protect electrical devices and systems from voltage spikes and electromagnetic disturbances. They monitor fluctuations in the power supply and divert excess current to the grounding wire to prevent damage to connected equipment. The growth in the market is driven by increasing demand from industrial sectors due to the need to prevent downtime and equipment failure.

The surge protection devices market is segmented by type end user, and region. By type, the market is segmented into hardwired surge protection devices, plug-in surge protection devices, line cord surge protectors, power control centers, and others. The hardwired surge protection devices segment accounted for the largest market share in 2023 the growth is attributed to their ability to provide dedicated protection for sensitive electrical systems and networks in industries.

Surge Protection Devices Market Trends:

• Integration with remote monitoring systems: The integration of surge protection devices with remote monitoring and predictive analytics is an emerging trend. Built-in sensors and IoT connectivity allow surge protectors to transmit real-time performance data to the cloud. Predictive analytics can help anticipate failures, while remote diagnostics enables timely maintenance. For instance, Schneider Electric is a multinational company specialized in the area of energy management and automation. In order to provide remote monitoring of overcurrent protection health, their EcoStruxure Power Monitoring Expert cloud based software is integrated with their RMC surge protectors. This minimizes downtime and avoids catastrophic failures by taking protection devices offline before they fail. Companies such as ABB, Eaton, Schneider Electric, and Siemens offer surge protection solutions with remote analytics capabilities.

• Rising adoption of integrated rack-level power systems: Integrated rack-level power systems combining Uninterruptible Power Supply (UPS), Power Distribution Unit (PDUs), and surge suppressors into unified rack enclosures are witnessing rising adoption in data centers and edge facilities. By consolidating multiple power protection capabilities, they enhance space utilization. Rack-based systems also allow for scalability to accommodate increasing power densities and computing capacity. Leading providers, including Vertiv, Schneider Electric, and Eaton, offer integrated rack systems combining lithium-ion UPS, intelligent PDUs and surge protection. The growing significance of edge computing and 5G networks will also contribute to this trend. According to the United Nations' 5G Study, over 20% of network transmission equipment is projected to shift from cellular towers to street-level infrastructure such as street lamps and traffic lights by 2025. These distributed edge locations will require robust rack-level power and protection systems for reliability and security. Thus, the rising popularity of integrated rack power solutions is expected to drive consistent demand for surge protection devices in 2024.

• Growing use of gas discharge tubes in low voltage applications: Gas discharge tubes are gaining traction as a compact, low-cost alternative to bulky Metal Oxide Varistor (MOVs) in low voltage residential, commercial, and Universal Serial Bus (USB) surge protection devices. Their high surge current rating, fast response time, and long service life make Global Descriptor Table (GDTs) effective for protecting consumer electronics and 120V AC power connections. Key suppliers, such as Littelfuse, offer a wide range of compact GDT-based surge protection solutions designed for role outlets, power strips, and USB chargers. According to statistics released by the European Semiconductor Industry Association in 2022, the use of GDTs grew by over 15% in telecommunication infrastructure and industrial controls from 2020 to 2021.

• Shifting preference for plug-in and portable surge protectors: End-users across residential, commercial, and industrial sectors are increasingly using plug-in and portable surge suppressors. Their ease of deployment, flexibility, and affordability provide cost-effective protection without requiring major electrical rewiring. Moreover, compact form factors allow plug-in protectors to be installed at multiple access points close to appliances. Portable protectors also enable temporary protection during events and outdoor activities. Leading brands offer surge strips with rotating or spaced outlets to accommodate transformers. According to the data published by the U.S. Bureau of Labor Statistics in 2022, the ownership of electronic gadgets per household in the country has increased by over 20% in the past five years. This underlines how surge protection has become a necessity in modern, digitally driven lives and environments.