Surge Arrester Market Report 2023: Sector to Reach US$ 2.86 Billion by 2032 at a 5.3% CAGR

Surge Arrester Market Global Sales are Expected to Reach US$ 2.86 Billion by 2032

SANTA ROSA, CALIFORNIA, USA, April 25, 2023/EINPresswire.com/ -- The Global Surge Arrester Market Share, Trends, Analysis and Forecasts, 2019-2032 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.

The global surge arrester market was estimated to be US$ 1.70 Billion in 2022 and is expected to reach US$ 2.86 Billion by 2032 at a CAGR of 5.3%. A surge arrester, also known as a lightning arrester or a surge protector, is a device designed to protect electrical and electronic equipment from voltage surges and spikes caused by lightning strikes or other electrical disturbances in the power grid.

Surge arresters work by diverting the excess voltage to the ground, thereby protecting the equipment from damage. They are typically installed at the point where power enters the building, such as at the main electrical panel, and may also be installed at specific points within the building, such as near sensitive electronic equipment.

Surge arresters are commonly used in residential, commercial, and industrial settings to protect a wide range of equipment, including computers, televisions, refrigerators, air conditioning systems, and other sensitive electronics. They are an essential component of any reliable power protection system, helping to prevent damage and downtime caused by power surges and spikes.

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Growth driving factors of Global Surge Arrester Market

Following are some of the major factors driving the market –

Increasing demand for power transmission and distribution systems: The increasing demand for power transmission and distribution systems is driven by the growing population, urbanization, and industrialization. For example, in developing countries, there is a need to expand the existing power infrastructure to meet the rising demand for electricity. Surge arresters are installed in the power transmission and distribution systems to protect them from voltage surges and spikes. For instance, high-voltage surge arresters are used in electrical power grids to prevent damage to transformers, generators, and other power equipment.

Expansion of industrial and commercial infrastructure: The expansion of industries and commercial establishments has led to a surge in power consumption. Surge arresters are installed in these facilities to ensure a constant power supply and prevent equipment damage. For example, in the manufacturing sector, surge arresters protect sensitive equipment such as robotics, control systems, and motors from voltage surges and spikes.

Increasing occurrences of lightning strikes and power outages: Lightning strikes and power outages are common in many parts of the world. Surge arresters protect power equipment and electronic devices from voltage surges and spikes caused by these events. For instance, surge arresters are installed in residential buildings to protect appliances, computers, and other electronic devices from power surges caused by lightning strikes or power outages.

Growing concern for the protection of electronic devices from power surges: Electronic devices are highly susceptible to power surges and spikes. With the increasing use of electronic devices, there is a growing demand for surge arresters. For example, surge arresters are installed in data centers to protect servers, switches, and routers from voltage surges and spikes caused by lightning strikes or power outages.

Technological advancements in surge arrester design and manufacturing: The technological advancements in surge arrester design and manufacturing have led to the development of more efficient and effective surge arresters. For instance, the development of metal oxide varistors (MOVs) has led to the production of highly effective surge arresters that offer better protection against voltage surges and spikes. These advancements have led to the installation of surge arresters in various applications, such as in solar power plants, wind farms, and electric vehicles.

The leading market segments of Global Surge Arrester Market

Based on type, the porcelain segment is currently the largest in the surge arresters market due to its long-standing use in power transmission and distribution systems. Porcelain surge arresters have a higher energy handling capability and are more durable compared to their polymeric counterparts. In addition, porcelain surge arresters are more effective in high-temperature applications and have better resistance to moisture and pollution. These properties make porcelain surge arresters suitable for use in harsh environments, such as high altitude areas or coastal regions.

However, the polymeric segment is expected to witness a higher growth rate in the coming years due to the increasing demand for more lightweight, compact, and flexible surge arresters. Polymeric surge arresters are made of silicone rubber or ethylene propylene rubber (EPR), which makes them more resistant to cracking, weathering, and UV radiation. In addition, polymeric surge arresters have a lower profile and can be more easily integrated into the power system. Key trends specific to the polymeric surge arresters segment include the increasing use of silicone rubber materials in the manufacturing of surge arresters and the development of self-healing polymeric surge arresters. These trends are expected to further drive the growth of the polymeric segment in the surge arresters market.

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Based on end-user, the utilities segment is currently the largest in the surge arresters market due to the high demand for power transmission and distribution systems in the energy sector. The utilities segment includes companies involved in the production, distribution, and transmission of electricity, and it is characterized by high-voltage applications. Surge arresters are essential in the utilities segment to protect power equipment and infrastructure from voltage surges and spikes, which can cause equipment damage, power outages, and safety hazards.

The transportation segment is expected to witness the highest growth rate in the coming years due to the increasing demand for electric vehicles and the installation of charging infrastructure. The transportation segment includes electric vehicle charging stations, trains, trams, and other transportation systems that rely on electricity. Surge arresters are installed in transportation systems to protect the electrical equipment from power surges and spikes caused by lightning strikes, power outages, or other electrical disturbances. The transportation segment is expected to witness significant growth in the surge arresters market due to the expansion of electric vehicle charging infrastructure, particularly in countries that are investing heavily in electric transportation systems.

Geographically, Asia-Pacific region is the largest market owing to the increasing demand for power transmission and distribution systems in the region. The Asia-Pacific region is characterized by high population density, rapid industrialization, and urbanization, leading to a surge in power consumption. The need to ensure a reliable power supply and protect power equipment from power surges and spikes has driven the demand for surge arresters in the region. The expansion of renewable energy projects and the modernization of the existing power infrastructure are expected to further drive the growth of the surge arrester market in the Asia-Pacific region.

While, the Middle East and Africa region is expected to witness the highest growth rate in the coming years due to the increasing investments in power infrastructure and the expansion of renewable energy projects. The Middle East and Africa region is characterized by high economic growth, rising population, and a significant need for energy. The region is investing heavily in the expansion and modernization of the existing power infrastructure to meet the rising demand for power. Surge arresters are essential in this region to protect power equipment from power surges and spikes, particularly in countries that are prone to lightning strikes and power outages. The increasing adoption of renewable energy projects, particularly in countries such as Saudi Arabia and the United Arab Emirates, is expected to further drive the growth of the surge arrester market in the Middle East and Africa region.

The key players of the Global Surge Arrester Market are:

Hitachi ABB (Switzerland), Siemens Energy (Germany), General Electric (US), Eaton (Ireland), Hubbell (US), CG Power (India), Schneider Electric (France), Meidensha (Japan), Mitsubishi Electric (Japan), and Toshiba (Japan), and Others.

Market Segmentation

Based on Type:

• Polymeric
• Porcelain

Based on Voltage:

• Medium Voltage
• High Voltage
• Very High Voltage

Based on End-user:

• Utilities
• Industries
• Transportation

By Region

• North America
* United States
* Canada
* Rest of North America

• Europe
* Germany
* United Kingdom
* Italy
* France
* Spain
* Rest of Europe

• Asia Pacific
* Japan
* India
* China
* Australia
* South Korea
* Rest of Asia Pacific

• Middle East & Africa
* UAE
* Saudi Arabia
* South Africa
* Rest of the Middle East & Africa

• South America
* Brazil
* Rest of South America

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