Surge Protection Devices Market size is expected to reach USD 5.30 billion by 2030
Surge Protection Devices Industry Overview The global surge protection devices market size is expected to reach USD 5.30 billion by 2030, expanding at a CAGR of 9.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the growing need to protect electronic devices from any potential surges. The alternative energy programs being pursued aggressively all over the world and the growing instances of lightning strikes stemming from the increase in global warming are some of the other factors that are expected to drive the demand for surge protection devices (SPDs) over the forecast period. Surge Protection Devices Market Segmentation Grand View Research has segmented the global surge protection devices market based on product, type, power rating, end-use, and region: Based on the Product Insights, the market is segmented into Hard-wired, Plug-in, Line Cord, and Power Control Devices The har...