Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Surge Protection Devices Market size was USD 2.7 billion in 2024 and is estimated to reach USD 5.5 billion by the end of 2037, expanding at a CAGR of 6.5% during the forecast period, i.e., 2025-2037. In 2025, the industry size of surge protection devices is assessed at USD 2.9 billion.
The trade of surge protection devices (SPD) is influenced by the supply chain of raw materials, components, and assembly operations. Varistors and gas discharge tubes are some of the main raw components required for the manufacturing of surge protection devices. China and Japan are estimated to lead the sales of metal oxides and ceramics, essentially for SPD, in the coming years. The U.S. International Trade Commission projects that in 2023, the imports of electrical apparatus components, including those for SPDs, amounted to USD 1.4 billion. The import trade reflected a 9% growth over 2022. The surge protection device manufacturing is projected to be led by North America, Europe, and Southeast Asia. The strong presence of key players in these regions is set to drive the overall market growth in the coming years. Furthermore, according to the analysis by the U.S. Census Bureau, the imports of SPD-related electrical apparatus (HTS code 8536.30) increased by 11.7% in 2023. The ICT infrastructure expansion and industrial automation trend are accelerating the demand for advanced surge protection devices.
