Schedule a Meeting
Get a SampleFebruary 2025
The global surge protection device market size accounted for USD 3.57 billion in 2025 and is forecasted to hit around USD 6.48 billion by 2034, representing a CAGR of 6.84% from 2025 to 2034. The North America market size was estimated at USD 1.30 billion in 2024 and is expanding at a CAGR of 7.01% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.
The global surge protection device market size was calculated at USD 3.34 billion in 2024 and is predicted to increase from USD 3.57 billion in 2025 to approximately USD 6.48 billion by 2034, expanding at a CAGR of 6.84% from 2025 to 2034. The key factor driving market growth is the growing demand for surge protection devices to safeguard electrical gadgets. Also, increasing demand for smart power strips, coupled with the ongoing advancements in smart homes across the globe, can fuel market growth soon.
Artificial intelligence (AI) plays a key role in the surge protection devices market by improving operational efficiency and enhancing customer experiences through innovative technologies such as AI-driven analytics and digital solutions. Furthermore, AI-driven SPDs can process large amounts of data to predict potential issues, identify trends, and recommend corrective actions to reduce downtime. They can be smoothly integrated with smart grids and IoT devices to improve control and monitoring.
The U.S. surge protection device market size was evaluated at USD 911.82 million in 2024 and is projected to be worth around USD 1804.52 million by 2034, growing at a CAGR of 7.06% from 2025 to 2034.
North America held the largest surge protection devices market share in 2024. The dominance of the region can be attributed to the increasing adoption rate of innovative technologies, coupled with the strict government regulations about electrical safety. Moreover, the region's robust infrastructure and substantial investments in renewable energy projects and smart grids are further propelling the expansion of the regional market.
In North America, the U.S. led the surge protection devices market owing to the increasing electricity consumption in commercial and residential applications. The U.S. is also home to states like Louisiana, Mississippi, Florida, and Alabama, which are highly susceptible to lightning strikes and require surge protection devices.
Asia Pacific is expected to show the fastest growth over the period studied. The growth of the region can be credited to the increasing awareness in countries like India, China, and Japan regarding the benefits provided by SPDs.Furthermore, the surge in disposable income in emerging economies is allowing individuals to spend on electronic products like washing machines, LED television sets, and refrigerators.
In Asia Pacific, China dominated the surge protection devices market. The dominance of the country can be driven by increased investments in infrastructure development and rapid urbanization in the country. Also, the increasing shift towards clean energy, like lithium battery production, solar cells, and electric vehicle manufacturing, can impact market growth positively.
Surge protector devices (SPDs) are created to safeguard electrical appliances from potential voltage spikes. These devices limit the voltage provided to an electric device by shorting or blocking any unwanted voltages beyond a safe limit to the ground. They are also utilized in electric power supply networks, automatic control buses, various communication systems, and telephone networks. Governments across the globe are deploying policies that encourage the adoption of these devices, especially in the context of grid modernization and renewable energy projects.
| Report Coverage | Details |
| Market Size by 2034 | USD 6.48 Billion |
| Market Size in 2025 | USD 3.57 Billion |
| Market Size in 2024 | USD 3.34 Billion |
| Market Growth Rate from 2025 to 2034 | CAGR of 6.84% |
| Dominated Region | North America |
| Fastest Growing Market | Aisa Pacific |
| Base Year | 2024 |
| Forecast Period | 2025 to 2034 |
| Segments Covered | Product, Type, Power Rating, End Use, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
Increasing energy investment
The surge protection devices market is substantially impacted by the rise in investments in electrical infrastructure. These significant investments showcase an increasing need for efficient protection against electrical surges, such as surge protection devices. In addition, this investment facilitates the growing demand for high-quality SPDs to protect upgraded and new infrastructure from threats caused by voltage surges and spikes, which is positively impacting overall market growth.
Increasing availability of counterfeit products
The rising availability of cheap counterfeit surge protection devices, especially from Asian countries, creates a substantial threat to established brands. This can facilitate lower sales of genuine SPDs and shorten overall market demand. Moreover, fluctuations in the cost of raw materials utilized in SPD manufacturing can affect the profit margins of market players.
Growing need for protection systems for electronic equipment
The utilization of electronic equipment in production facilities, residential sectors, and companies is propelling the demand for power-quality protection systems. Hence, surge protection is becoming more crucial for the entire facility. Furthermore, increasing demand for technologically innovative appliances like personal computers, printers, LED televisions, and industrial control systems like PLCs is rising rapidly, presenting future market opportunities soon.
The hard-wired segment led the surge protection devices market in 2024. The dominance of the segment can be attributed to their permanent and robust installation, offering comprehensive protection for critical equipment and electrical systems. These devices can be directly integrated into the electrical system, providing long-term protection and high reliability against voltage spikes caused by electrical disturbances or lightning. Hard-wired SPD can be used in various industrial, commercial, and residential applications.
The plug-in segment is expected to grow at the fastest rate over the forecast period. The growth of the segment can be credited to the rising application of plug-in SPDs along with the benefits they can provide at different endpoints. Additionally, the plug-in SPDs include features such as noise filtering, surge protection, and data line protection. This segment is important for small businesses, residential, and consumer applications.
The type 2 segment held the largest surge protection devices market share in 2024. The dominance of the segment can be linked to the growing preference for type 2 SPDs due to their affordable cost and effective performance, which makes them a primary choice for light commercial and residential applications. Also, type 2 improves system durability and minimizes the risk of damage to delicate equipment. Therefore, market players are launching innovative variants specific to the growing demand.
The type 1 segment is anticipated to grow at the fastest rate over the forecast period. The growth of the segment can be driven by rising demand for lightning surge protection in different applications. These devices are mainly installed at the initial points of electrical systems to safeguard against huge-scale surges. However, the increasing awareness regarding surge protection, especially in areas susceptible to lightning strikes, is further driving the segment growth.
The 100.1-200 kA segment led the surge protection devices market in 2024. The dominance of the segment is owing to the growing need for reliable power systems and the need to protect expensive electronic equipment from potential damage. These devices provide strong protection against voltage spikes and high-energy transients, which are very common in these environments due to equipment use and heavy machinery.
The 50.1-100 kA segment is projected to grow at the fastest rate over the forecast period. The growth of the segment is due to the good protection and balance offered by this segment, which makes it suitable for different applications such as commercial, residential, and industrial settings. Furthermore, the growing use of electronic devices and the increasing awareness regarding the importance of surge protection are fueling segment growth.
In 2024, the industries and manufacturing units segment held the largest surge protection devices market share. The dominance of the segment can be linked to the increasing use of SPDs in protecting control systems and machinery from electrical surges that can pose safety hazards and substantial disruptions. This device was created to safeguard equipment from overvoltage events that last for a few seconds, hence minimizing downtime and costly damage.
The commercial complexes segment is estimated to grow at the fastest rate during the period studied. The growth of the segment can be driven by insurance requirements and regulatory compliance often requires the use of surge protection in commercial facilities. In addition, a strong focus on electrical designers is being given on the installation of commercial SPDs in accordance with the regulatory requirements, also addition to the segment expansion.
By Product
By Type
By Power Rating
By End-Use
By Region
For inquiries regarding discounts, bulk purchases, or customization requests, please contact us at sales@precedenceresearch.com
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client
February 2025
October 2023