Transient Protection Device Market Size (2024 - 2029)

The transient protection device market is anticipated to experience growth driven by the increasing demand for these devices to safeguard innovative electrical and electronic gadgets in residential and commercial settings. The market's expansion is further supported by the need to address power quality issues, reduce operating costs, and enhance the resilience of transmission and substation equipment. The global focus on energy-efficient systems and the rising popularity of smart power strips and smart home technologies are also contributing to the market's development. However, challenges such as designing compact devices with enhanced protection levels and the impact of the COVID-19 pandemic on supply chains may hinder growth.

Market Size of Transient Protection Device Industry

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Transient Protection Device Market
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.10 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Low

Major Players

Transient Protection Device Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Transient Protection Device Market Analysis

The Transient Protection Device market is expected to grow at a CAGR of over 5.1% during 2022-2027. The market's growth can be attributed to the increasing demand for transient protection devices to protect the new, innovative electrical and electronic gadgets installed in homes and offices. The devices' capacity to reduce electricity bills by reducing the power utilized by gadgets is also predicted to play a significant role in the development of the market during the forecast period. The increasing operating costs stemming from power quality issues, alternative energy programs being pursued aggressively worldwide, and frequent equipment failure are some of the other factors contributing to the market growth.

  • The focus of major economies like the United States, China, Japan, India, etc., on developing energy-efficient electrical systems across multiple industrial sectors is adding to the upsurge in demand for transient protection devices. For instance, the Research Designs and Standards Organization (RDSO), a unit of the Indian Railways has developed a center called CAMTECH (Centre for Advanced Maintenance Technology). CAMTECH aims to increase the productivity and performance of all railway assets and workforce by upgrading maintenance technologies and procedures by including lightning and transient protection device arrangements in integrated power supply for signalling installations.
  • In recent years, to achieve carbon neutral environment, the demand for renewable energy has increased, and ensuring the reliability of power grids has become more important. In addition, there is a requirement to enhance the resilience of transmission and substation equipment for large-scale lightning strikes. Resultantly, the demand for transient protection devices is expected to witness an uptick.
  • Additionally, the rising demand for smart power strips is also contributing to boost the market's growth. Customers are in great demand for Wi-Fi-enabled power strips due to their ability to automatically create schedules, timers, and monitor energy usage. Therefore, several businesses are working towards offering Wi-Fi-enabled power strips, to serve as a comprehensive solution to their customers. For instance, APC is offering a smart transient protection WI-FI enabled Power strip with 3 Alexa Smart Plugs, USB Charger Ports, and 2160 Joules of Smart Plug transient Protection.
  • Further, the need for smart home-enabled transient protection devices is predicted to rise with the rise in smart gadget use, smart home technology, and smart city projects. For instance, in October 2021, the US Department of Energy (DOE) announced the allocation of USD 61 million to ten pilot projects that would use new technologies to turn thousands of homes and businesses into advanced, energy-efficient structures. These Connected Communities may communicate with the electrical grid to optimize their energy consumption, lowering carbon emissions and energy prices.
  • However, the challenges in designing compact transient protection devices with enhanced protection levels will likely restrain the market's growth. For example, high functional transient protection devices include numerous components that must be placed in parallel arrays in the circuit. Individual suppression components may have to endure greater energy than the adjacent due to poor mechanical design, and this is causing fluctuations in the performance level between the theoretical model and real devices. 
  • Moreover, the COVID-19 pandemic also has had a negative impact on the Transient Protection Device market's growth by severely impacting the supply for the device production. Further, due to a lack of site access and deficiencies in raw materials, manufacturers of various electronic components, including transient protection devices, faced short-term operational challenges.

Transient Protection Device Industry Segmentation

Transient Protection Devices are used to re-direct the flow of energy during the transients by diverting the extra current or voltage flow from the transient waveform to the intended signal or power waveform. These devices can be connected in both series and parallel to the circuit. The study includes different types of transient protection devices for various applications like Industrial, Commercial, and Residential in multiple geographies. The impact of COVID-19 on the market and affected segments are also covered under the scope of the study. Further, the disruption factors impacting the market's growth in the near future have been covered in the study regarding drivers and restraints.

By Type
AC Transient Protection System
DC Transient Protection System
By End-user Verticals
Industrial
Commercial
Residential
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Transient Protection Device Market Size Summary

The Transient Protection Device market is poised for significant growth, driven by the increasing demand for safeguarding innovative electrical and electronic gadgets in both residential and commercial settings. This demand is further fueled by the devices' ability to reduce electricity costs by optimizing power usage. The market is also benefiting from the rising operational expenses due to power quality issues and the global push towards alternative energy solutions. Major economies, including the United States, China, Japan, and India, are focusing on developing energy-efficient electrical systems, which is contributing to the heightened demand for these devices. Additionally, the need for enhanced resilience in power grids and transmission equipment, particularly in the context of renewable energy and smart city initiatives, is expected to further propel market growth.

In the APAC region, the market is experiencing robust expansion due to improved living standards, increased disposable income, and the growing adoption of smart homes. The region's digital transformation, supported by initiatives like Industry 4.0 and the development of smart building technologies, is also driving demand for transient protection devices. The market is characterized by intense competition, with major players engaging in strategic collaborations, mergers, and acquisitions to enhance their product offerings and market presence. Companies like Eaton, Schneider Electric, and Legrand are actively expanding their footprints and introducing advanced transient protection solutions. Despite challenges such as the COVID-19 pandemic's impact on supply chains and the complexities of designing compact devices with high protection levels, the market is expected to continue its upward trajectory, supported by ongoing technological advancements and infrastructure investments.

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Transient Protection Device Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of COVID-19 impact on the industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 AC Transient Protection System

      2. 2.1.2 DC Transient Protection System

    2. 2.2 By End-user Verticals

      1. 2.2.1 Industrial

      2. 2.2.2 Commercial

      3. 2.2.3 Residential

    3. 2.3 By Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East and Africa

Transient Protection Device Market Size FAQs

The Transient Protection Device Market is projected to register a CAGR of 5.10% during the forecast period (2024-2029)

Eaton Corporation , ABB Ltd., General Electric Company, Schneider Electric SE and Legrand S.A. are the major companies operating in the Transient Protection Device Market.

Transient Protection Device Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)