Surge Protector Market, by Product (Power Control Center, Plug-in Devices, Line Cord Devices, and Hardwired Devices), Application (Industrial, Commercial, Residential), Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

Global Surge Protector Market Overview 2026:

Surge protector is also called as surge suppressor or surge diverter and it is an electronic device. Surge protector is designed to safeguard electronic appliances from voltage surge. Surge protector can also find the cause of the voltage surge. The principle of the surge protector is limiting and diverting transient currents or voltages to protect critical and sensitive electrical equipment. Voltage spikes and surges can cause due to thunderstorms, static electricity, power outages, tripped circuit breakers, electromagnetic pulses and other causes.

Increasing the product demand for protection devices and power fluctuations will be significantly driving the surge protector market

Rising use of electronic devices in commercial and residential sectors coupled with increasing demand for product and their derivatives demand for protection systems for electronic appliances are potential surge protector market drivers. Also, growing demand for stability of power supply has increased the importance of reliability and power quality of electric systems. These factors will enhance the growth of the market. In addition, increase in the lightning strikes due to global warming that cause power surges; the intensity of such surges are very high when compared with other power surges. Thereby, this aspect is anticipated to drive the market growth during the estimated time. Moreover, regular voltage fluctuations can cause gradually eroding of electrical appliances and lead to failure of electrical equipment, which is a major threat for electrical devices. This factor is projected to fuel demand for surge protectors to avoid from high financial losses due to failure of electrical equipment’s. The abovementioned factors are estimated to drive the market growth in the coming years.

Increase in the demand for protection of technological equipment’s is giving major investment opportunity for the surge protector market

Growing industrialization and rise in disposal income along with growing the standard of livings are supporting the consumption of expensive electronic devices is rising demand for surge protectors to safeguard from power surges. Growing the adoption of technologically advanced electronic appliances such as LED, LCD, laptops and other devices in the developing countries is anticipated to create significant growth opportunities in the surge protector market in the near future. 

Plug-in devices segment accounted for highest market size and is anticipated to register for huge revenue by the end of 2026

Plug-in devices segment held the majority of the market share and is projected to continue the prominent share throughout the estimated time. Plug-in surge protectors are suitable for protection from sudden lightning strikes and also provide surge protection. These plug-in devices are capable to connect multiple devices at a time, which is anticipated to fuel the surge protector market growth throughout the forecast timeframe. 

Line cord surge protector devices segment accounted for the second highest market share and this trend will continue to grow at a significant rate in the projected timeframe. Line cords is an external electric wire that temporarily connects an electrical appliance to the main electric supply through extension cord. The line cords contain connectors, and these can be detachable from electrical equipment and power supply.  The advantages of line cord are projected to drive the market size in the estimated timeframe.

Residential application segment will account for huge revenue by the end of 2026

Industrial application has dominated the global surge protector market size and is projected to continue its trend with a noticeable growth rate during the estimated timeframe. Industries such as automotive, manufacturing and others have extensive demand for the use of automation systems, heavy machinery, and other machines to improve the operational efficiencies. Therefore, these industries are adopting surge protectors to protect the machines for electric abnormalities and heavy lightning can lead to failure of the machines. Such factors are projected to drive the demand for the surge protectors, which is anticipated to boost the market growth throughout estimated timeframe.

Furthermore, residential application is projected to be one of the fast-growing markets for surge protectors and is anticipated to grow at notable rate during the estimated time. Growing electronic appliances along with rise in the consumers expenditure for safety of the electric products is anticipated to support the demand for surge protectors in the residential application.

Asia-Pacific region will have vast opportunities for the market investors 

Geographically, North America region accounted for majority of the surge protector market share in 2018 followed by Asia-Pacific and is anticipated to continue its dominance during the forecast period. This dominance is majorly owing to extensive demand for surge protectors from consumer electronic appliances in residential and industrial areas. Also, Florida, Louisiana, Alabama, Oklahoma are states that receive maximum lightning strikes in the U.S and these are most dangerous in lightning fatalities. This aspect is projected to boost the demand for surge protectors, which is anticipated to drive the market size in the North America region. 

Asia-Pacific market for surge protector is expected to experience a significant growth, at a remarkable rate and is estimated to generate immense growth opportunities in terms of revenue during the forecast time. The expected growth is mainly because many of the industries such as automotive, consumer electronics, IT and manufacturing sectors are opting for digitization. The increasing number of key electronics manufacturers and huge consumption of electric appliances due to high population in the Asia-Pacific region are projected to fuel the growth of the market in the estimated time. 

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Joint ventures and product developments are the most common approaches followed by the major players

Major players of surge protector market include GENERAL ELECTRIC, Emerson Electric Co., Eaton, Leviton Manufacturing Co., Inc., PHOENIX CONTACT, Raycap, Schneider Electric, Pentair plc, Tripp Lite, CG Power and Industrial Solutions Limited and among others. Established players are emphasizing on product developments, new product launches, R&D investments, mergers & acquisitions and geographical expansions to improve the product quality and performance. These are frequent strategies followed by the major players in the global surge protector industry.
 

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