Surge Arrester Market to Reach USD 2.50 Billion by 2028 at a CAGR of 4.7%; TRE Signs an Agreement with Siemens Energy to Invite Remarkable Business Opportunities: Fortune Business Insights™

Companies covered in the Surge Arrester Market Re are Hitachi ABB (Switzerland), Siemens (Germany), Schneider Electric (France), General Electric (U.S.), Eaton (Ireland), Mitsubishi Electric (Japan), Toshiba (Japan), Hubbell (U.S.), Legrand (France), CG Power (India), Meidensha (Japan), Tripp Lite (U.S.)

/EIN News/ -- Pune, March 23, 2022 (GLOBE NEWSWIRE) -- The global Surge Arrester Market size was USD 1.74 billion in 2020. The market is expected to grow from USD 1.81 billion in 2021 to USD 2.50 billion in 2028 at a CAGR of 4.7% in the 2021-2028 period.

This information is provided by Fortune Business Insights™, in its report, titled, “Surge Arrester Market, 2021-2028.”

Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/surge-arrester-market-100933

According to our researchers, the growing demand for smart grids infrastructure substitutes the prevailing infrastructure and presents novel end-use industries, specifically in renewable energy projects, thus boosting the market growth.

Top Players Covered in the Surge arrester market Report are:

• Hitachi ABB (Switzerland)
• Siemens (Germany)
• Schneider Electric (France)
• General Electric (U.S.)
• Eaton (Ireland)
• Mitsubishi Electric (Japan)
• Toshiba (Japan)
• Hubbell (U.S.)
• Legrand (France)
• CG Power (India)
• Meidensha (Japan)
• Tripp Lite (U.S.)

COVID-19 Impact

COVID-19 Pandemic Adversely Influences the Surge Arrester Market

Industry pioneers have predicted slowdowns among delivery and construction, owing to factory shutdowns in order to diminish the coronavirus spread. Numerous components/parts are gained from China, the U.S., and Europe. Production hindrances in China and the U.S. owing to this pandemic could substantially decline the market growth in the near future.

Additionally, owing to the COVID-19 outbreak, the worth of various nations’ local currencies fell, leading to financial damages for metal manufacturers. The considerable components utilized in the manufacturing procedures are frequently procured in U.S. dollars in augmented component costs.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/surge-arrester-market-100933

Report Coverage

The report presents valuable visions gained by a meticulous review conducted by our researchers. Extensive research was conducted to offer the expected size of the market. The data utilized to project the shares for multiple segments at the country, regional, and global levels are gained from detailed interviews with numerous stakeholders. Additionally, we have extracted admittance to numerous global and regional paid databases to offer accurate information to make business investment choices easy for our clients.

Report Scope and Segmentation:

Report Coverage	Details
Forecast Period	2021 to 2028
Forecast Period 2021 to 2028 CAGR	4.7%
2028 Value Projection	USD 2.50 billion
Base Year	2020
Market Size in 2020	USD 1.74 billion
Historical Data for	2017 to 2019
No. of Pages	180
Segments covered	By Type, By Class, By Voltage Level, By Application, By Region
Growth Drivers	Increase in Deployment of Smart Grids Infrastructure Leading Market Growth
	Increasing Investment in Renewable Energy Projects to Boost Market Growth
Pitfalls & Challenges	Growing Competition From The Unorganized Players Hampering The Market Growth

Segmentation:

Utility Segment Dominated Backed by Demand for Electricity

On the basis of type, the market is segregated into porcelain and polymeric.

In terms of class, the market is classified into station class, intermediate class, and distribution class surge arrester.

By voltage level, the market is divided into high voltage, medium voltage, and low voltage levels.

In regards of the application, the market can be divided into utility and industrial. The utility segment held the largest share in 2020 and is projected to dominate the market during the projection period.

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/surge-arrester-market-100933

Driving Factors

Upsurge in Deployment of Smart Grids Infrastructure to Lead Market Growth

The market is expected to grow on account of the extensive usage of the arrester in substations, transmission lines, and other electrical network components. Moreover, augmented investment in transmission and distribution (T&D) networks is among the prime causes fueling the market. T&D network extension and development directly affects the surge arrester market growth. The increasing number of electrification projects in China and India and network expansions to sustain renewable energy integration in the U.S., Europe, and other established nations are estimated to spur the market in the impending years.

Regional Insights

Asia Pacific Held Dominating Share Backed by Growing Investment in Transmission

Asia Pacific holds the largest surge arrester market share. Electricity demand is rising, and utilities in the nations in this region are spending on transmission and distribution amenities; an amplification in EHV and UHV transmission investments in China and India are projected to drive the regional market growth.

North America held the second-largest share in the global market. The region's substantial industrial and electrical infrastructural development is expected to augment demand as replacements and novel installations take place.

Europe is anticipated to contribute remarkably during the forecast period. European utilities are re-evaluating their possessions and concentrating on long-term sustainable business.

Competitive Landscape

Key Players Gain Novel Contracts to Bolster Market Position

The important players embrace numerous tactics to bolster their position in the market as dominating companies. One such important tactic is procuring companies to boost the brand value among users. Another effective strategy is intermittently launching groundbreaking products with a detailed review of the market and its target audience.

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/surge-arrester-market-100933

Industry Development

February 2021: TRE signed an agreement with Siemens Energy intended to install two wind farms based in Vietnam. Among other substation properties, the company will deliver digitally augmented transmission equipment with sophisticated intelligence from its Sensor based product portfolio, such as connective circuit-breakers, surge arresters, as well as power transformers.

Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Emerging Trends – For Major Countries
  • Latest Technological Advancement
  • Regulatory Landscape
  • Porter’s Five Forces Analysis
• Qualitative Analysis – Impact of COVID-19
  • Impact of COVID-19 on the Surge Arrester Market
  • Steps Taken by the Government to Overcome the Impact
  • Key Developments in the Industry in Response to COVID-19
  • Potential Opportunities and Challenges due to COVID-19 Outbreak
• Global Surge Arrester Market Analysis (USD Billion), Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Type
    • Porcelain
    • Polymeric
  • Market Analysis, Insights and Forecast – By Class
    • Station Class
    • Intermediate Class
    • Distribution Class
  • Market Analysis, Insights and Forecast – By Voltage Level
    • High
    • Medium
    • Low
  • Market Analysis, Insights and Forecast – By Application
    • Utility
    • Industrial
  • Market Analysis, Insights and Forecast – By Region
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • Latin America
• North America Surge Arrester Market Analysis (USD Billion), Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Type
    • Porcelain
    • Polymeric
  • Market Analysis, Insights and Forecast – By Class
    • Station Class
    • Intermediate Class
    • Distribution Class
  • Market Analysis, Insights and Forecast – By Voltage Level
    • High
    • Medium
    • Low
  • Market Analysis, Insights and Forecast – By Application
    • Utility
    • Industrial
  • Market Analysis, Insights and Forecast – By Country
    •  U.S. Market Analysis, Insights and Forecast – By Application
      • Utility
      • Industrial
    •  Canada Market Analysis, Insights and Forecast – By Application
      • Utility
      • Industrial
• Europe Surge Arrester Market Analysis (USD Billion), Insights and Forecast, 2017-2028

Toc Continued…….

Quick Buy – Research Report: https://www.fortunebusinessinsights.com/checkout-page/100933

Have a Look at Related Research Insights:

Compressed Natural Gas Market Size, Share and Global Trend By Source (Associated Gas, Non-Associated Gas, Unconventional Sources), By Application (Light Duty Vehicles, Medium/Heavy Duty Buses, Medium/Heavy Duty Trucks, Others), and Geography Forecast Till 2022-2029

Control Valve Market Size, Share and Global Trend By Motion (Linear, Rotary), By Component (Actuator, Valve Body, Others), By Application (Flow Control, Pressure Control, Others), By End-Use Industry (Oil & Gas, Chemical, Pharmaceutical, Food and Beverage, Others) and Geography Forecast till 2022-2029

Bioethanol Market Size, Share and Global Trend By Feedstock (Starch-Based, Sugar-Based, Cellulose Based, Others), By Application (Transportation Fuel, Power Generation, Cosmetic, Pharmaceutical, Chemical, Others) and Geography Forecast till 2022-2029

Emission Monitoring System Market Size, Share and Global Trend By Type (Predictive Emission Monitoring System, Continuous Emission Monitoring System), By Component (Hardware, Software, Service), By End User (Oil and Gas, Chemicals & Fertilizers, Iron and Steel, Pharmaceuticals, Food & Beverages, Healthcare, Mining, Others), and Geography Forecast till 2022-2029

Battery Electrolyte Market Size, Share and Global Trend By Electrolyte Type (Liquid,Solid, Gel), By Battery Type (Lithium-ion, Lead Acid) and Geography Forecast till 2022-2029

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:        

Fortune Business Insights™ Pvt. Ltd.

9th Floor, Icon Tower,

Baner - Mahalunge Road,

Baner, Pune-411045, Maharashtra, India.

Phone:                                                

U.S.: +1 424 253 0390                                                 

UK :+44 2071 939123                                                    

APAC :+91 744 740 1245

Email: sales@fortunebusinessinsights.com

LinkedIn: https://www.linkedin.com/company/fortune-business-insights

Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd

Twitter: https://twitter.com/FBInsightPvtLtd