PUBLISHER: Grand View Research | PRODUCT CODE: 2040500
PUBLISHER: Grand View Research | PRODUCT CODE: 2040500
The global surge protection devices market size was estimated at USD 3.49 billion in 2025 and is projected to reach USD 6.06 billion by 2033, growing at a CAGR of 7.2% from 2026 to 2033. The market growth can be attributed to the growing demand for surge protection devices (SPD) to protect the new, innovative electrical and electronic gadgets being installed in homes and offices.
Other factors that are expected to drive the demand for surge protection devices include the alternative energy programs being pursued aggressively all over the world and the rising operating costs stemming from power quality issues and the resultant frequent equipment failure. The ability of surge protection devices to cut electricity bills by reducing the power consumed by gadgets is also expected to play a vital role in driving the growth of the market over the forecast period.
The continued amendments various governments are making in their respective regulations for public safety are expected to contribute to the growth of the surge protection devices industry. For instance, in the U.S., the National Electrical Code, published and sponsored by the National Fire Protection Association in Quincy, Massachusetts, is updated every three years in line with the rapid technological advancements. The code was updated to its 2020 edition, and the revised edition includes a new requirement for surge protection throughout the house. While the new rule applies to new homes, it becomes applicable to the existing homes when the service panel is updated. The revised National Electrical Code envisages protecting the appliances, electronic equipment, and computers from electrical surges.
Another major trend fueling market growth is the expansion of renewable energy systems and grid modernization initiatives. Solar PV installations, wind energy systems, and battery storage units are highly susceptible to power surges caused by grid instability and lightning strikes. As countries continue to invest in clean energy transitions and smart grid infrastructure, the integration of SPDs becomes essential to protect these systems and maintain operational reliability. This trend is significantly boosting SPD deployment in energy and utility applications worldwide.
The increasing developments made in smart homes worldwide are expected to boost the demand for smart home-enabled surge protection devices worldwide. According to the statistics provided by Oberlo, 63.43 million households in the U.S. actively use smart home gadgets in 2023. The adoption of smart gadgets in the coming years is expected to grow at a growth rate of 10.2%. Oberlo predicts that 93.59 million U.S. households will the smart home gadgets by 2027. These smart gadgets are expected to make smart homes more technologically convenient and easier to use.
Surge protection devices are of paramount importance for protecting electrical installations. As such, the growing sales of household electronic devices across the globe are expected to accentuate the growth of the surge protection devices (SPD) market. According to the study conducted by the United States Public Interest Research Group (U.S. PIRG), a nonprofit organization focusing on consumer issues, as of 2021, American households spent about USD 1,767 on buying new electronic products per year. However, lower awareness of surge protection devices in emerging countries and regions is anticipated to hinder the growth of the market.
Global Surge Protection Devices Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest segmental trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global surge protection devices market report based on product, type, power rating, end use, and region: