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 like bodyguards for your electronics. They stand guard, blocking any unexpected bursts of electricity that could damage your precious gadgets. These protectors are designed to keep the voltage flowing through your devices at a safe level. They're like traffic cops, making sure that only the right amount of electricity gets through. While surge protectors can handle most power spikes, they're not always perfect. For serious lightning strikes, you may need extra protection. But even if a surge protector can't block every strike, it can still give your equipment a fighting chance. Surge protectors are usually found inside your home's electrical panel, guarding all your outlets. But don't forget about other things that connect to your home, like phone lines and cable TV. Protecting these entry points can help keep unwanted electricity out. Surge protectors are especially popular in North America, but they're essential anywhere you live. They play a vital role in safeguarding your electrical circuits, appliances, and gadgets from the unexpected. So, think of surge protectors as the unsung heroes behind the scenes, keeping your home and devices safe from the perils of electrical surges.

Government Regulations and Fire Safety Standards Drive Surge Protection Market Growth Government and industry groups are stepping up regulations and enforcing safety standards for homes across the country. This is good news for companies that make surge protection devices. Fire safety in homes is especially important because so many people live there. Governments around the world are making strict rules to make sure buildings are built with fire safety in mind. Electronic Appliances and Energy Programs Boost Demand Surge protection devices are also becoming more popular for electronic appliances and in line with energy programs. For example, the United States is encouraging people to use alternative energy sources like solar and wind power. These systems often need surge protection to keep them working smoothly. Smart Power Strips Gain Traction Smart power strips are also becoming more popular. People like them because they can set schedules, timers, and even monitor energy usage remotely. This makes them perfect for protecting expensive gadgets like cell phones, laptops, and home entertainment systems. Industrial Applications Surge protection is also crucial in industrial settings. By protecting machinery and equipment from electrical surges, businesses can reduce downtime and save money on maintenance.

In the United States, the National Electrical Code (NEC) keeps our homes safe from electrical hazards. Every three years, the National Fire Protection Association in Massachusetts updates the NEC to keep up with the latest technology. The latest update, the 2020 NEC, includes new rules to protect our homes from power surges. These surges can damage appliances, electronics, and computers. The new rules require new homes to have surge protection installed, and existing homes must add it when they update their electrical panels. Surge protectors are devices that protect against power surges, but not all surge protectors are created equal. Some only cover spikes in power, while others also protect against lightning strikes. With extreme weather becoming more common, people want surge protectors that do it all. And the revised NEC aims to ensure that our homes are protected from these electrical dangers.

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-

The surge protection market can be broken down into four main typesHard Wired, Line Cord, Plug-in, and Power Control Devices. Hard Wired devices were the most popular in 2023, taking up 45.02% of the market share. That's because they can protect electrical systems and equipment from power surges, which can cause serious damage. They're often used in commercial, industrial, and even residential settings, such as lighting circuits, motor controllers, and power distribution systems. As a result, this segment is expected to grow by 6.32% each year for the foreseeable future. Line Cord devices were the second most popular in 2023, with a market value of USD 260.36 Million. They're expected to grow even faster than Hard Wired devices, with a projected 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%.

Need protection for your electronics from power surges? Look no further than a hardwired surge protector. They're designed to keep your sensitive equipment safe from these harmful spikes. These protectors use special devices called varistors to absorb the surge energy. They're small and cost-efficient, but still provide significant protection. To ensure maximum safety, hardwired surge protectors follow strict industry standards. By installing these devices at key points throughout your electrical system, you can create a "SOLID" system that will keep your electronics safe from surgesService entrance (where power enters your home) Outside outlets Large appliances (like refrigerators and air conditioners) Indoor outlets Dishwashers

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

We've done a thorough study of the market, taking into account both financial and lifestyle factors. We've broken down the market into different segments and sub-segments, and we've provided estimates of the market size in dollars for each one. We've identified the region and segment that are expected to grow the fastest and dominate the market. We've also analyzed the market by geography, looking at how much of the product or service is being used in each region and what factors are influencing the market there. We've put together a list of the major players in the market and ranked them based on their market share. We've also looked at their recent product launches, partnerships, expansions, and acquisitions. We've created detailed profiles of the major market players, including their history, strengths and weaknesses, and product offerings. We've also included a SWOT analysis for each company. We've taken a look at the current and future market outlook, considering recent developments, growth opportunities, challenges, and restraints in both emerging and developed regions. We've used Porter's Five Forces analysis to take a deep dive into the market's competitive landscape. We've also provided insights into the market's value chain. We've described the current market dynamics and identified growth opportunities for the future. And if you have any questions after you purchase the report, we'll provide analyst support for the next six months.

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