The global market for surge protection devices is expected to witness significant growth through the forecast period with steady growth in construction and rising demand for expensive electronic devices. In addition, growing industrialization and growth in commercial sector is also expected to support the demand for surge protection devices. All these factors represent a positive outlook for trade partners across the value chain of surge protection devices industry.

The report includes exhaustive analysis of market fueling and limiting factors related to surge protection. The report also includes global as well as regional technology, demand-supply, pricing and consumption trends. The study also includes high level analysis such as attractive analysis, market competitive analysis, value chain analysis and PESTEL. High level analysis would help market players and trade partners to formulate their strategies in competitive environment.

The study includes company profiles of major players in the global surge protection industry. Company profiles provide exhaustive information of product portfolio, business strategies, new production developments, mergers and acquisitions and regional positioning of key surge protection suppliers in the global market. The report also includes in-depth analysis about degree of competition and positioning of key surge protection devices suppliers along with their market winning strategies.

Line chord is the most attractive segment in the global surge protection devices market.

Standard line chord surge protector has 6 or 8 outlet which allows protecting multiple equipment from surge voltage using single device. Growing demand for high technology appliances such as home entertainment systems and personal computers is growing rapidly with rising income level across the world. These high technology devices are highly sensitive to even smaller voltage fluctuation. This is increasing the demand for line chord surge protection devices to protect these devices from transient voltage. In addition, growing digitization in commercial sector and increasing importance of power management is driving the demand for line chord surge protectors. 

Hard wired surge protection devices segment is the next attractive segment for surge protection devices suppliers. These devices are commonly used in circuit breaker panel and protect all the devices connected in the electric system. Growing residential and commercial construction projects are expected spur the demand for hard wired surge protection devices throughout the forecast period. The global urban population is expected to grow approximately 1.65% per year between 2023 and 2030 which is expected to increase number residential projects. New houses will require power management and surge protection devices to protect electrical equipment in house. This represents a huge potential market for hard wired surge protection devices.

Industrial end use segment accounted for the largest revenue share

Industrial end use segment accounted for the largest revenue share in 2020 and expected to maintain its dominating position with growing industrialization in emerging economies across the world. Due to large untapped market and less number of domestic manufacturers several multinational automobile manufacturers, pharmaceutical companies and others have expanded their operations in emerging economies such as India, China, Brazil and Russia. Increasing automation in both manufacturing and processing industry has increased the demand for electrical industrial machineries and equipments in these countries. Increasing need to protect electric equipment from surge and provide consistent service to their customers is expected to spur the demand for surge protection devices. This is increasing the demand for surge protection devices in commercial sectors including IT, Telecommunication and others. The market for high technology home appliance and electronic equipment is growing rapidly cross the world with increasing number of middle class families and their income level. To protect these expensive equipment from surge damages consumers are investing in surge protection devices. With growing demand for high technology electronics equipment such as LED and LCD TVs, HVAC equipment and personal computer among others the market for surge protection devices is also expected to see a considerable growth through the forecast period.

Lucrative regional market

Asia Pacific is the largest as well as the most lucrative regional market for Surge Protection Devices. Rising demand for sophisticated electronic devices in India, China and Southeast Asia is the primary factor attributed to the growth of surge protection devices in Asia Pacific. North America and Europe are also expected to see a significant demand for surge protection devices with recovering construction industry and steadily increasing sale of high end electronic devices. Middle and Latin America are also predicted to witness considerable growth with increasing income level and rising demand for electronic devices in this region.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Surge Protection Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Surge Protection Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Surge Protection Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Surge Protection Devices market?
• Which is the largest regional market for Surge Protection Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Surge Protection Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Surge Protection Devices market worldwide?