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Industrial Surge Protection Devices Market by Product (Hard-Wired, Plug-In, Line Cord, Power Control Devices), by Technology (Type 1, Type 2, Type 3), by Power Rating (≤ 50 kA, > 50 KA to 100 KA, > 100 KA to 150 KA, > 150 KA), by North America (U.S., Canada, Mexico), by Europe (Germany, France, Russia, UK, Italy, Spain, Netherlands, Austria), by Asia Pacific (China, Japan, South Korea, India, Australia, New Zealand, Malaysia, Indonesia), by Middle East & Africa (Saudi Arabia, UAE, Qatar, Egypt, South Africa, Nigeria, Kuwait, Oman), by Latin America (Brazil, Peru, Argentina) Forecast 2025-2033
The size of the Industrial Surge Protection Devices Market was valued at USD 864.7 Million in 2023 and is projected to reach USD 1326.17 Million by 2032, with an expected CAGR of 6.3% during the forecast period. The market for Industrial Surge Protection Devices (SPDs) centers on the need for devices that safeguard industrial electrical systems and equipment from voltage surges or spikes resulting from lightning, power failures, or switching activities. These devices play a vital role in safeguarding delicate electrical equipment, minimizing downtime, and improving operational dependability throughout sectors like manufacturing, energy, oil and gas, and telecommunications. SPDs are often utilized in power distribution systems, control panels, and communication networks to guarantee the safety and durability of machinery and electronic components. The market is propelled by the escalating demand for dependable power systems, an uptick in occurrences of electrical surges, and the expanding intricacy of industrial electrical frameworks. Innovations in technology, including the creation of more effective, compact, and long-lasting surge protection devices, are driving market progress. Moreover, the growth of industrial sectors and the emphasis on safeguarding essential infrastructure from electrical risks drive the increasing need for SPDs. The market for Industrial Surge Protection Devices is anticipated to expand notably as sectors focus on safeguarding equipment, ensuring system reliability, and enhancing safety.
The Industrial SPDs Market is moderately concentrated with several key players dominating the market share. The market is characterized by:
Key market insights and trends include:
North America is projected to dominate the Industrial Surge Protection Devices Market due to the region's strong industrial base and advanced infrastructure.
In terms of product segments, the Hard-Wired Surge Protection Devices category is estimated to hold the largest market share, primarily due to their wide application in industrial settings where permanent electrical installation is required.
In April 2024, Raycap presented its surge protection and cabinet solutions portfolio at CCA 2024 in Palm Springs, California. The company showcased innovative solutions for the wireless industry, emphasizing system reliability, efficiency, and safety.
In October 2023, Emerson finalized its acquisition of NI, a prominent provider of software-connected automated test and measurement systems. This strategic move enhances Emerson's position in automation and expands its capabilities for digital transformation, sustainability, and decarbonization.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 6.3% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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