Residential Surge Protector Market Size
The residential surge protector market size was valued at USD 1.08 billion in 2023 and is expected to grow at a CAGR of 6% between 2024 and 2032. The increasing use of electronic devices in homes will drive the demand for surge protectors to protect these sensitive equipment from power surges and voltage spikes. For instance, investments in the real estate sector crossed USD 35 million in Q1 2024 across Europe.
Home surge protectors (SPDs) are essential components designed to protect sensitive electrical systems and equipment from voltage surges and power surges. These devices work by diverting excess electrical current away from connected devices and safely grounding them, thus preventing damage from sudden voltage surges. These devices come in a variety of types and ratings to suit different applications, from protecting individual electronic devices to protecting entire electrical systems and infrastructure.
Home Surge Protector Market Trends
The proliferation of smart homes and the Internet of Things has significantly increased the demand for surge protectors. These units help protect smart appliances, entertainment systems, and connected devices from power fluctuations. Additionally, the increasing applicability of these units in multi-family apartments to protect critical machinery, control systems, and automation equipment is set to boost business dynamics. Moreover, these devices are increasingly being integrated into energy management systems to provide a comprehensive approach to energy efficiency and power quality, accelerating the industry’s potential.
Residential Surge Protector Market Analysis
The Type 2 residential lightning protection device market is expected to cross USD 700 million by 2032. Rising awareness about the importance of lightning protection coupled with increasing integration of these systems into building management and automation systems is expected to boost the business landscape. This integration enables real-time monitoring and remote control of lightning protection, thereby improving overall system resilience and providing significant opportunities for industry expansion.
The residential surge protector market size of >50kW to 100kW is expected to witness a growth rate of over 5.5% till 2032. These devices are essential for protecting low-capacity systems from surges and voltage spikes, ensuring the longevity and reliability of electronic devices. The implementation of stringent government regulations and standards related to surge protection is evolving and will fuel the proliferation of products. Moreover, the growing consumer interest in eco-friendly, compact and sustainable surge protectors is expected to drive the business scenario forward.
The Asia Pacific residential surge protector market is expected to cross USD 600 million by 2032. The booming real estate sector coupled with increasing infrastructure investments across the developing nation will offer a huge opportunity for business expansion. Stringent government regulations related to electrical safety, voltage fluctuations, and surges will further fuel the industry dynamics. The increasing use of these devices to remotely monitor and manage power surges will further drive product adoption.
Growing awareness of the importance of protecting sensitive electronic devices from power surges, coupled with stringent government regulations on electrical safety, is expected to drive the growth of the US market. Consumers are increasingly aware of the importance of protecting sensitive electronic devices from power surges and voltage spikes, leading to an increase in the prevalence of these devices.
Home surge protector market share
JMV is one of the leading providers of surge protection devices, offering a comprehensive range of solutions designed to protect sensitive electronic equipment from surges and voltage spikes. With a strong focus on innovation and reliability, the company is designed to meet the stringent requirements of various sectors, including residential, commercial and industrial applications. Its products incorporate advanced technologies to effectively suppress surges, ensuring continuous operation and longevity of connected devices.
JMV not only focuses on product performance, but also emphasizes compliance with global standards, ensuring that its surge protectors meet the highest levels of electrical safety and reliability. As the demand for robust surge protection solutions grows worldwide, the company continues to expand its market presence by offering advanced products designed to meet the evolving needs of customers.
Home surge protector market companies
Key players in the industry include:
ABB Belkin Bourns, Inc. CG Power and Industrial Solutions Limited Eaton Emerson Electric Co., Ltd. General Electric Havells Hubbell Infineon Technologies AG Intermatic Incorporated JMV Legrand Leviton Manufacturing Co., Inc. Littelfuse, Inc. Maxivolt Mercen Philips Phoenix Contact Raycap Rockwell Automation Schneider Electric Shenzhen Techwin Lightning Technologies Co., Ltd. Siemens
Home surge protector industry news
In February 2024, ABB announced that it had acquired SEAM Group. This strategic acquisition is set to strengthen ABB’s electrification portfolio in electrical safety, renewable energy and asset management consulting services. Through the acquisition, ABB aims to meet the growing demand for asset modernization and optimization for safer, smarter and more sustainable operations.
In November 2023, Bornes unveiled its latest innovation, the 1260 Series overcurrent protectors. These hybrid overcurrent protectors are ingeniously designed with advanced MG architecture that provides enhanced reliability and safety protection by eliminating leakage or surge current, a feat achieved through innovative architecture design. Designed for high-risk electrical service inlets, branch panels, heavy industrial systems, and electric vehicle charging stations, they feature powerful capabilities.
The Residential Surge Protectors Market research report includes in-depth coverage of the industry with estimates and forecasts in terms of “Units” and “USD Million” from 2021 to 2032, for the following segments:
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Market by product
Power control devices with pluggable electrical wires
Market by Technology
Market by Energy Classification
≥ 50kA > 50kA to 100kA > 100kA to 150kA > 200kA
The above information is provided for the following regions and countries:
North America Europe Germany France Russia United Kingdom Italy Spain Netherlands Austria Asia Pacific China Japan South Korea India Australia New Zealand Malaysia Indonesia Middle East & Africa Saudi Arabia United Arab Emirates Qatar Egypt South Africa Nigeria Kuwait Oman Latin America
