Surge Protection Devices Market (By Product: Hard-wired, Plug-in, Line Cord, Power Control Devices; By Type: Type 1, Type 2, Type 3, Type 4; By Power Rating: 0-50 kA, 50.1-100 kA, 100.1-200 kA, 200.1 kA and Above; By End-use: Data Center, Industries & Manufacturing Units, Medical, Residential Buildings & Spaces, Telecommunication) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Published Date : Oct 2021 | No. of Pages : 150+ Pages | Category : ICT

The global surge protection devices market size is expected to be worth around US$ 9.41 billion by 2030, according to a new report by Vision Research Reports.

The global surge protection devices market size was valued at US$ 4.3 billion in 2020 and is anticipated to grow at a CAGR of 11.5% during forecast period 2021 to 2030.

Surge Protection Devices Market Size 2021 to 2030

Report Coverage

Report Scope Details
Market Size USD 9.41 billion by 2030
Growth Rate CAGR of 11.5% From 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Product, Type, Power rating, End-use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned ABB; General Electric; Schneider Electric; Eaton; Legrand; Emerson Electric Co.; Siemens;; Tripp Lite; Vertiv Group Corp.

Growth Factors

 The growing need to protect electrical equipment from surges is primarily expected to drive the growth of the market. The high costs associated with electrical equipment downtime are also expected to drive the adoption of surge protection devices (SPDs) over the forecast period. The growing awareness among consumers about safeguarding electronic appliances from potential surges also bodes well for the growth of the market.

Surge protection devices are critical for businesses and both residential and commercial establishments. SPDs help in protecting consumer electronics and electrical equipment from voltage fluctuations

Report Highlights

 The hard-wired segment dominated the market in 2020 and accounted for a share of more than 50.0% of the global revenue. Hard-wired SPDs are typically installed on power lines for the protection of devices and outlets downstream from the device.

The plug-in segment is anticipated to register the highest CAGR over the forecast period. Plug-in SPDs are mainly installed in intermediate panels and at the origin of the network for protecting the equipment from indirect lightning strikes.

The type 2 segment dominated the market in 2020 and accounted for a share of more than 35.0% of the global revenue. Type 2 SPDs are designed for industrial and commercial applications. 

The type 1 segment is expected to register the fastest growth over the forecast period. Type 1 SPDs are incorporated primarily to protect electronic equipment from lightning surges.

Power rating is one of the critical parameters helping in selecting the type of SPD to be used. However, the power rating is often mistaken for the ability of an SPD to provide enhanced protection. SPDs with a higher kA factor do not provide enhanced protection but rather deliver a longer product life. 

The 50.1-100 kA segment is projected to register the highest CAGR over the forecast period. SPDs with power ratings ranging from 50.1 kA to 100 kA are primarily used by manufacturing units and for residential and commercial applications. 

The industries & manufacturing units segment dominated the SPD market in 2020 and accounted for a share of over 36.0% of the global revenue.The commercial complexes segment is anticipated to register a promising CAGR over the forecast period. The commercial sector in developing economies, such as India, is growing noticeably owing to the favorable policies, such as Make in India and Startup India, being pursued by the government. 

North America dominated the surge protection device market in 2020 and accounted for a share of over 40.0% of the global revenue. The region happens to be an early adopter of advanced technologies. The level of awareness about the benefits of SPDs is also very high in the region. 

Key Players

  • ABB

  • General Electric

  • Schneider Electric

  • Eaton

  • Legrand

  • Emerson Electric Co.

  • Siemens


  • Tripp Lite

  • Vertiv Group Corp. 

Market Segmentation

  • Product

    • Hard-wired

    • Plug-in

    • Line Cord

    • Power Control Devices

  • Type

    • Type 1

    • Type 2

    • Type 3

    • Type 4

  • Power Rating

    • 0-50 kA

    • 50.1-100 kA

    • 100.1-200 kA

    • 200.1 kA and Above

  • End-use

    • Commercial Complexes

    • Data Center

    • Industries & Manufacturing Units

    • Medical

    • Residential Buildings & Spaces

    • Telecommunication

    • Transportation

    • Others

  • Regional

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • Middle East & Africa

The Surge Protection Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Surge Protection Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Surge Protection Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Surge Protection Devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Surge Protection Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Surge Protection Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Surge Protection Devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Surge Protection Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Surge Protection Devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Surge Protection Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Surge Protection Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Surge Protection Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Surge Protection Devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Surge Protection Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Surge Protection Devices market. These factors have benefited the growth of the global market for Surge Protection Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Surge Protection Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Surge Protection Devices are as follows:

  • History Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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