Surge Protection Devices Market Summary

The global surge protection devices (SPD) market was valued at USD 2.89 billion in 2022 and is projected to reach USD 4.88 billion by 2030, registering a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. This growth is primarily fueled by the increasing deployment of new and advanced electrical and electronic equipment in residential, commercial, and industrial settings, which has subsequently heightened the need for effective surge protection solutions to prevent equipment failure and ensure operational continuity.

Surge protection devices play a critical role in safeguarding sensitive systems from power disturbances, thereby mitigating the risk of damage caused by transient voltage spikes and electrical surges. The rising global adoption of alternative energy systems, such as solar and wind power, which can be prone to voltage fluctuations, is further contributing to the demand for SPDs. Additionally, growing concerns over rising operational costs and frequent equipment downtime due to power quality issues have driven organizations and consumers to invest in reliable surge protection infrastructure. Another appealing feature of SPDs is their ability to improve energy efficiency by reducing unnecessary power consumption in electronic devices, thereby offering potential savings on electricity bills over time.

Key Market Trends & Insights

• In 2022, the hard-wired segment emerged as the leading product category, accounting for over 44.0% of the global revenue share. Hard-wired SPDs are permanently installed on electrical panels and circuits, providing comprehensive protection for downstream equipment and connected outlets. These devices are widely used across residential, commercial, and industrial sectors to prevent damage from electrical disturbances such as transients and surges originating from the power supply line or internal switching activities.
• The type 2 SPD segment also dominated the global market in 2022, contributing over 30.0% of total revenue. Type 2 surge protectors are commonly deployed at service entrances and electrical distribution panels in commercial and industrial environments. These devices are designed to handle high-energy transients and serve as a secondary line of defense against voltage spikes, thereby protecting critical equipment and preventing costly disruptions in high-output operations.
• Among the kA rating segments, the 100.1–200 kA category led the market in 2022, holding more than 32.0% of the global revenue share. While a higher kA rating does not necessarily indicate stronger protection, it ensures a longer operational life for the device, especially in high-risk environments where electrical disturbances are frequent. This makes high-kA-rated SPDs ideal for use in industrial plants, manufacturing hubs, and large-scale data centers where constant uptime is essential.
• The industries and manufacturing units segment accounted for the largest revenue share of over 33.0% in 2022. With increasing automation and digitalization across the industrial sector, there is a rising reliance on sensitive electronics, programmable logic controllers, and smart machinery—all of which require robust surge protection to maintain operational efficiency and reduce maintenance-related costs. As industries strive to enhance profitability through continuous operation and minimal downtimes, the demand for high-performance SPDs is projected to continue climbing.
• Regionally, North America led the global surge protection devices market in 2022, capturing a revenue share of more than 38.0%. The region benefits from an early adoption of cutting-edge technologies and a mature understanding of electrical safety protocols. Strong awareness among consumers and businesses about the consequences of electrical surges has driven widespread adoption of SPDs across residential, commercial, and industrial sectors.
• Asia Pacific is poised to record the highest CAGR during the forecast period. Countries such as China, India, and Japan are witnessing rapid urbanization and technological expansion, leading to a surge in demand for uninterrupted power supply and equipment protection. Growing infrastructure development and the increasing integration of renewable energy sources across the region are also boosting awareness and adoption of surge protection solutions.

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Market Size & Forecast

• 2022 Market Size: USD 2.89 Billion
• 2030 Projected Market Size: USD 4.88 Billion
• CAGR (2023-2030): 6.8%
• North America: Largest market in 2022
• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights

The SPD market is highly competitive, characterized by the presence of both global leaders and regional players. Companies are employing a range of strategic initiatives to strengthen their market position, such as product innovation, capacity expansion, mergers and acquisitions, partnerships, and investments in research and development. For example, companies like General Electric Company are offering a broad range of surge-protective products including power strips with multiple outlet configurations (2-outlet, 4-outlet, 6-outlet, and 8-outlet) to cater to varying consumer needs.

A notable innovation in the market came from Littelfuse, Inc. in June 2023, when it introduced the SPDN series under the National Electrical Manufacturers Association (NEMA) category. These devices are engineered to shield sensitive equipment from transient overvoltage incidents, which occur over microsecond timescales, ultimately helping businesses reduce unplanned downtime and avoid equipment damage. Such technological advancements underscore the emphasis that manufacturers are placing on delivering reliable, next-generation protection solutions to meet growing customer demands.

Key Players

• ABB Ltd.
• General Electric Company
• Schneider Electric
• Eaton Corporation plc
• Legrand
• Emerson Electric Co.
• Siemens
• CG Power and Industrial Solutions Limited
• Littelfuse, Inc.
• Bourns, Inc.

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Conclusion

The global surge protection devices market is growing steadily due to rising dependence on sophisticated electronics and the increased occurrence of power quality issues. The market is shaped by innovations in product design, greater awareness of energy efficiency, and expansion of renewable energy systems. Hard-wired and high-kA-rated SPDs are widely adopted in critical sectors like manufacturing and IT. Regional demand is rising globally, especially in Asia Pacific, fueled by digital infrastructure growth. Key players continue to focus on advanced solutions and strategic partnerships to remain competitive. Surge protection devices are expected to remain vital for enhancing equipment safety and operational reliability worldwide.