Regional Analysis
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
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