U.S. Surge Protection Devices Market Size By Type (Hard Wired, Line Cord) And Forecast

U.S. Surge Protection Devices Market Size And Forecast

U.S. Surge Protection Devices Market size was valued at USD 686.02 Million in 2023 and is projected to reach USD 1,168.50 Million by 2031, growing at a CAGR of 6.99% from 2024 to 2031.

Increasing stringent regulations by government and other organizations, and implementation of residential safety standards across the United States are creating better opportunities for the market to grow. The U.S. Surge Protection Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

U.S. Surge Protection Devices Market Overview

Surge protectors are the gatekeepers of electronic devices because they block and map high-voltage spikes. Surge protectors help provide only the limited voltage your machine can handle. It also tends to stop the voltage spike, but there are better ways to protect electrical equipment from nearby lightning strikes. It may take a long time before the equipment is interrupted or damaged due to the effects of the surge. SPDs are typically installed inside consumer units to protect electrical installations. Nevertheless, various SPD types are available to cover buildings from phone lines and other incoming services such as cable TV. It is important to remember that protecting only electrical installations and not other equipment may leave alternative routes for transient voltages entering the building. Surge protectors are most prevalent in North America. Electrical Surge Control Devices play an important role in protecting the electrical circuits, home appliances, industrial electrical equipment, high-tech gadgets, and the rest of the others from electrical surges. Such devices help in preventing damage to electrical appliances and devices in the residential areas. An electrical fire can be easily caused due to sparkling caused in the electrical circuits because of electrical surges.

Increasing stringent regulations by government and other organizations, and implementation of residential safety standards across the United States are creating better opportunities for the market to grow over forecasted period. Implementation of fire safety standards in residential apartments is very important as the residential area comprises larger percentage of population. Thus, government of various countries are taking the initiatives to build stringent regulations in the construction of buildings to implement fire safety standards. The increasing demand for protection systems in electronic appliances and the adoption of alternative energy programs are driving U.S. Surge Protection Devices Market. The growing demand for smart power strips is also one of the major factors accentuating the market growth. Customers’ demand for Wi-Fi-enabled power strips is high due to their ability to set schedules and timers and automatically monitor energy usage. The increased use of consumer gadgets such as cellphones, laptops, and home entertainment systems raises the need for surge protection devices to protect these investments. Industrial facilities require surge protection to ensure that machinery and equipment run continuously, decreasing downtime and maintenance expenses.

For instance, in the United States, the National Electrical Code, published and sponsored by the National Fire Protection Association of Quincy, Massachusetts, is updated every three years to reflect rapid technological progress. The code was recently updated to the 2020 edition, and the revision includes new requirements for providing whole-home surge protection. The new rules apply to new homes and will also apply to existing ones once service panels are updated. The revised National Electrical Code protects against electrical surges for household appliances, electronic equipment, and computers. Apart from that, the properties of surge protectors that only cover against spikes and do not close out lightning strikes may hinder the market as unstable environmental conditions drive the population to demand 2-in-1 options for housing.

U.S. Surge Protection Devices Market Segmentation Analysis

U.S. Surge Protection Devices Market is Segmented based on Type.

U.S. Surge Protection Devices Market, By Type

• Hard Wired
• Line Cord
• Plug-in
• Power Control Devices

To Get a Summarized Market Report By Type-

Based on Type, the market is segmented into Hard Wired, Line Cord, Plug-in, and Power Control Devices. Hard Wired accounted for the largest market share of 45.02% in 2023, with a market value of USD 308.83 Million as Hard-Wired surge control devices can protect AC-powered, connected systems and equipment from the damages stemming from transients, surges, and AC power-induced events. Hard-wired surge protection devices are also used in commercial, industrial, and residential applications, such as lighting circuits, motor controllers, and power distribution. And thus, the segment is projected to grow at a CAGR of 6.32% during the forecast period. Line Cord was the second-largest market in 2023, valued at USD 260.36 Million in 2023; it is projected to grow at the highest CAGR of 8.02%.

Hard-wired SPDs are typically installed on power lines for the protection of devices and outlets downstream from the device. They can also protect AC-powered, connected systems and equipment from the damages stemming from transients, surges, and AC power-induced events. Hard-wired surge protection devices are also used in commercial, industrial, and residential applications, such as lighting circuits, motor controllers, and power distribution. Hence, hard-wired SPDs can be the most convenient surge protection solution to ensure reliable operations and extended performance, it holds the highest market share of 45.02%.

Hard Wired AC Surge Protector is designed for effective protection of sensitive equipment, in addition to the surge protector installation (coordination surge protector). These surge protectors utilize compact and economic scheme-based varistors, to obtain a power flow relevant for secondary protection. Hard-wired surge protectors needed fully coordinated safety controls. This led to the adoption of several SPD industry safety controls, the most efficient way to protect electrical systems from surges is through the installation of hardwired SPDs at key points throughout the distribution system. These locations can easily be remembered by memorizing the locations of the acrostic found within the following phrase, “The best surge-protected system is a SOLID one,” where each letter of the word SOLID stands for the locations on the electrical system where SPDs should be installed.

Key Players

The “U.S. Surge Protection Devices Market” study report will provide a valuable insight with an emphasis on the market. The major players in the market include Littelfuse, Inc., Emerson Electric Co., ABB, Ltd., Eaton Corporation, PLC., Siemens AG, Schneider Electric Se, General Electric Company, Advanced Protection Technologies, Inc., Belkin International, Leviton Manufacturing Company, Inc., Tripp Lite, Panamax, MVC-Maxivolt, REV Ritter GmbH, Raycap Corporation S.A. and others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with Coating Type benchmarking and SWOT analysis.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in U.S. Surge Protection Devices Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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