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Competitive Landscape: Leading Companies and New Entrants in the Surge Protection Devices Market
Surge Protection Devices Market
Surge Protection Devices Market Size Projection Through 2030
The surge protection devices market is forecasted to expand significantly, reaching a value of $5.23 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 8.2% over the forecast period. Several factors contribute to this upward trajectory, including a surge in renewable energy installations, an increase in data center construction, expansion of commercial building infrastructure, ongoing grid modernization efforts, and a higher uptake of high-capacity surge protection devices. Key trends driving this market involve devices with enhanced surge current handling capabilities, modular and scalable SPD configurations, growing use of type 1 and type 2 SPDs, compact and space-saving designs, as well as stricter adherence to international safety standards.
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Emerging Players Influencing the Surge Protection Devices Market
The surge protection devices market features several prominent companies shaping its competitive landscape. Among the key players are Siemens AG, Schneider Electric SE, Mitsubishi Electric Corporation, ABB Ltd., TE Connectivity Ltd., Legrand S.A., Phoenix Contact Ltd., Bourns Inc., nVent Electric Plc, Littelfuse Inc., Havells India Limited, Hager Group, Mersen SA, Raycap S.A., Otowa Electric Co. Ltd., OBO Bettermann GmbH & Co. KG, DEHN Inc., Hakel spol s r.o., Samptel Energy Private Limited, and Sichuan Zhongguang Lightning Protection Technologies Co. Ltd.
A notable development occurred in February 2023 when Legrand S.A., a French firm specializing in electrical and digital building infrastructures, acquired the Brazilian surge protection device manufacturer Clamper Indústria e Comércio S.A. This acquisition strengthens Legrand's position in the Brazilian market and broadens its surge protection device portfolio with innovative and high-quality offerings.
Key Trends Driving Innovation in the Surge Protection Devices Market
Leading companies in the surge protection devices industry are prioritizing advanced features to enhance protection, monitoring, and maintenance. One such innovation is the integration of external LED indicators on devices, which provide clear visual status updates and alert users when maintenance or servicing is necessary.
For example, in June 2023, US-based electronics manufacturer Littelfuse introduced its National Electrical Manufacturers Association (NEMA)-style surge protective device (SPDN) series. These devices protect against microsecond transient overvoltage incidents and offer multiple lines of direct protection in a compact design suitable for space-constrained environments. They utilize a stacked metal oxide varistor (MOV) structure for superior transient voltage defense, include Underwriters Laboratories (UL) 1283 filtering to minimize electrical interference, and feature thermally protected MOVs combined with external LED indicators for easier upkeep and dependable performance across various industrial sectors.
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Surge Protection Devices Market Segmentation Overview
The surge protection devices market is divided into several distinct segments to better understand its scope and applications:
1) Product Type: Hard-Wired, Plug-In, Line Cord, Power Control Devices
2) Power Rating: 0-50 kA, 50.1-100 kA, 100.1-200 kA, 200.1 kA and above
3) Application: Residential, Commercial, Industrial
4) End-Use: Commercial Complexes, Data Centers, Industrial and Manufacturing Units, Medical Facilities, Residential Buildings and Spaces, Telecommunication, Transportation, and Other End-Uses
Further subsegments clarify product distinctions, including:
- Hard-Wired devices categorized as Wall Mounted, Panel Mounted, Din Rail Mounted, and Outdoor Enclosure
- Plug-In devices such as Single Outlet, Multiple Outlet, Portable Units, and Receptacle Mounted
- Line Cord options including Standard, Heavy Duty, Flexible, and Shielded Cords
- Power Control Devices comprising Switches, Relays, Circuit Breakers, and Timers
This detailed segmentation helps provide a comprehensive understanding of the market landscape and areas of demand.
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