What is Global Surge Protection Devices (SPDs) Market?
The Global Surge Protection Devices (SPDs) Market is a vast and dynamic sector that plays a crucial role in safeguarding electronic devices from voltage spikes. These devices are designed to limit the voltage supplied to an electric device by either blocking or shorting to ground any unwanted voltages above a safe threshold. The market was valued at US$ 2311.9 million in 2023 and is projected to reach US$ 2605.1 million by 2030, growing at a CAGR of 1.5% during the forecast period 2024-2030. This growth is driven by the increasing demand for these devices in various sectors such as communication, construction, electric power, transportation, oil and gas, PV, wind power, among others.
Power Type SPD, Signal Type SPD, Others in the Global Surge Protection Devices (SPDs) Market:
The Global Surge Protection Devices (SPDs) Market is segmented into Power Type SPD, Signal Type SPD, and others. Power Type SPD is the largest segment, accounting for about 70% of the market share. These devices are primarily used to protect electrical equipment from voltage spikes in power supply lines. On the other hand, Signal Type SPDs are used to protect data and signal lines from transient overvoltages. The 'others' category includes a variety of SPDs designed for specific applications or industries. The top six players in this market hold a share of about 9%, indicating a highly competitive market landscape.
Communication, Construction, Electric Power, Transportation, Oil and Gas, PV, Wind Power, Others in the Global Surge Protection Devices (SPDs) Market:
The usage of Surge Protection Devices (SPDs) is widespread across various sectors. In the communication sector, which holds about 28% of the market share, SPDs are used to protect communication equipment from voltage surges that can cause data loss or equipment damage. In the construction sector, these devices safeguard electrical systems from surges that can result from power outages or lightning strikes. The electric power sector uses SPDs to protect power generation and distribution equipment, while the transportation sector uses these devices to protect onboard electronics in vehicles. In the oil and gas sector, SPDs are used to protect drilling and production equipment from electrical surges. The PV and wind power sectors use these devices to protect their power generation equipment from surges caused by weather phenomena.
Global Surge Protection Devices (SPDs) Market Outlook:
Looking at the market outlook, the Global Surge Protection Devices (SPDs) Market is set for steady growth. Valued at US$ 2311.9 million in 2023, it is expected to reach US$ 2605.1 million by 2030, growing at a CAGR of 1.5% during the forecast period 2024-2030. The market is dominated by power type SPDs, which account for about 70% of the market share. The largest application area for these devices is the communication sector, which holds about 28% of the market share. The top six players in this market hold a share of about 9%, indicating a highly competitive market landscape.
| Report Metric | Details |
| Report Name | Surge Protection Devices (SPDs) Market |
| Accounted market size in 2023 | US$ 2311.9 million |
| Forecasted market size in 2030 | US$ 2605.1 million |
| CAGR | 1.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Phoenix, ABB, Emerson, DEHN SE, Eaton, Siemens, ZG, Citel, Obo Bettermann, Schneider, Weidmüller, Littelfuse, Mersen Electrical, NVent, Philips, LEIAN, HPXIN, MVC-Maxivolt, ASP, Legrand, JMV, Chengdu Pedaro Technology, Xiamen SET, C-Power, MCG Surge Protection, Leviton, KEANDA |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
