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

Surge Protection Devices Market, By Type (Hardwired Surge Protection Devices, Plug-in Surge Protection Devices, Line Cord Surge Protectors, Power Control Center, Others), By Power Range (Below 100 kA, 100 kA to 500 kA, 500 kA to 1000 kA, Above 1000KM.), By End user (Industrial, Commercial, Residential, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Surge Protection Devices Market Regional Insights:

North America is expected to be the largest market for surge protection devices during the forecast period, accounting for over 38% of the market share in 2024. The growth of the market in North America is attributed to the high adoption of surge protection devices in industrial and commercial sectors.
Europe market is expected to be the second-largest market for surge protection devices, accounting for over 28% of the market share in 2024. The growth of the market is attributed to rapid industrialization and urbanization in emerging Germany, the U.K., Spain, France, Italy, and Russia

Asia Pacific market is expected to be the fastest-growing market for surge protection devices, with a CAGR of over 9% during the forecast period. The growth of the market in Asia Specific is attributed to the presence of stringent standards for surge protection in the region.

Figure 1. Global Surge Protection Devices Market Share (%), by Region, 2024