Surge Protection Devices Market To Expand Industry Growth At USD 5.30 Billion By 2030
San Francisco, 2 June 2022: The Report Surge Protection Devices Market Size, Share & Trends Analysis Report By Product (Hard-wired, Plug-in, Line Cord, Power Control Devices), By Type, By Power Rating, By End-use, By Region, And Segment Forecasts, 2022 - 2030 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. A surge occurs due to voltage imbalances, interferences in transformers, radio interferences, or differences in po