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During the forecast period of 2022–2030, the Surge Arrester Market is anticipated to reach a value of USD 3229.97 Million, registering a CAGR of 5.2%.
The surge arrester market is a result of a rise in the demand for power generation, the development of smart grid networks, greater investment in transmission and distribution infrastructure, and an increase in industrialization and the construction of power infrastructure. The necessity for automation and digitization is growing as working people's tastes change, which is strengthening the global market. Furthermore, the market is being driven ahead by the renewable energy industry. Numerous power plants are being built in the Asia Pacific region for the production of electricity from renewable sources like tidal, wind, and solar energy, including China and India.
The main market drivers are an increase in the demand for electrical appliances, the deployment of electrical equipment, an increase in power generation, and the replacement of outdated power infrastructure with new infrastructure. The region with the biggest market share globally is North America, followed by China, the market with the fastest rate of expansion. The growth of this market is also being attributed to technical developments in the industry. To fulfil the rising demand for electrical energy, the market is expected to expand continuously, and significant sums of money are spent on power generation as a result. Due to this, the surge arrester market has been able to grow recently and is anticipated to do so in the foreseeable future.
Globally, demand for power generation is rising, the smart grid network is expanding, investments in transmission and distribution infrastructure are rising, industrialization is booming, and power infrastructure is developing. The cost of installing an arrester, particularly in developing countries, and increasing competition from the unorganised power industry are the two main factors limiting the global surge arrester market. Players should be able to handle the situation, nevertheless, with the help of advancements and an advantage over competitors.
Due to firms like Siemens working very hard on application-based development so that the results would be conspicuous, effective, and efficient, the surge arrester market is constantly evolving technologically. In the locomotive industry, there is an increasing need for surge arresters. For instance, silicon carbide surge arresters are gradually replacing metal oxide surge arresters due to their high level of dependability and superior performance. In terms of distribution range, new advances have also been made. For the protection of fundamental mechanical properties and to prevent lightning faults, polymeric types are replacing porcelain ones. Various government organisations are engaged in research and development, technological innovation, testing technique improvement, and standard-setting.
The global surge arrester market is divided into segments based on the type of surge arrester (polymeric and porcelain), voltage (low, medium, high), class (distribution, intermediate, station), application (industrial, commercial, residential), and region (North America, Asia Pacific, Middle East, South America, and Africa). The industrial, commercial, and residential sectors make up the global surge arrester market. Among these, the commercial sector's revenue generation is anticipated to grow at a CAGR of about 8.50% over the course of the forecast year. The market is primarily driven by rising demand for electrical appliances, the deployment of electrical equipment, a rise in power generation, and the replacement of outdated power infrastructure with new infrastructure.
Report Coverage
Global Surge Arrester research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Surge Arrester report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Surge Arrester competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Surge Arrester market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Surge Arrester market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Surge Arrester market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Siemens (Germany), GE Oil & Gas (U.S.), Hubbell (U.S.), Schneider Electric (France), Mitsubishi Electric (Japan), CG Power (India), NGK Insulators (Japan), ABB (Switzerland), Eaton (Republic of Ireland), Legrand S.A (France), Emerson Electric (U.S.), HAKEL spol. S r. (Czech Republic), Vertiv. (U.S.), TE Connectivity (Switzerland), Lamco (India), leviton manufacturing (U.S.), Raycap Corporation SA (U.S.)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Surge Arrester market based on the below-mentioned segments:
Global Surge Arrester Market, By Type
Polymeric
Porcelain
Global Surge Arrester market, By Application
Industrial
Commercial
Residential
Global Surge Arrester Market, By Voltage
Low
Medium
High
Global Surge Arrester market, Regional Analysis
The surge arrester market is a result of a rise in the demand for power generation, the development of smart grid networks, greater investment in transmission and distribution infrastructure, and an increase in industrialization and the construction of power infrastructure. The necessity for automation and digitization is growing as working people's tastes change, which is strengthening the global market. Furthermore, the market is being driven ahead by the renewable energy industry. Numerous power plants are being built in the Asia Pacific region for the production of electricity from renewable sources like tidal, wind, and solar energy, including China and India.
The main market drivers are an increase in the demand for electrical appliances, the deployment of electrical equipment, an increase in power generation, and the replacement of outdated power infrastructure with new infrastructure. The region with the biggest market share globally is North America, followed by China, the market with the fastest rate of expansion. The growth of this market is also being attributed to technical developments in the industry. To fulfil the rising demand for electrical energy, the market is expected to expand continuously, and significant sums of money are spent on power generation as a result. Due to this, the surge arrester market has been able to grow recently and is anticipated to do so in the foreseeable future.
Globally, demand for power generation is rising, the smart grid network is expanding, investments in transmission and distribution infrastructure are rising, industrialization is booming, and power infrastructure is developing. The cost of installing an arrester, particularly in developing countries, and increasing competition from the unorganised power industry are the two main factors limiting the global surge arrester market. Players should be able to handle the situation, nevertheless, with the help of advancements and an advantage over competitors.
Due to firms like Siemens working very hard on application-based development so that the results would be conspicuous, effective, and efficient, the surge arrester market is constantly evolving technologically. In the locomotive industry, there is an increasing need for surge arresters. For instance, silicon carbide surge arresters are gradually replacing metal oxide surge arresters due to their high level of dependability and superior performance. In terms of distribution range, new advances have also been made. For the protection of fundamental mechanical properties and to prevent lightning faults, polymeric types are replacing porcelain ones. Various government organisations are engaged in research and development, technological innovation, testing technique improvement, and standard-setting.
The global surge arrester market is divided into segments based on the type of surge arrester (polymeric and porcelain), voltage (low, medium, high), class (distribution, intermediate, station), application (industrial, commercial, residential), and region (North America, Asia Pacific, Middle East, South America, and Africa). The industrial, commercial, and residential sectors make up the global surge arrester market. Among these, the commercial sector's revenue generation is anticipated to grow at a CAGR of about 8.50% over the course of the forecast year. The market is primarily driven by rising demand for electrical appliances, the deployment of electrical equipment, a rise in power generation, and the replacement of outdated power infrastructure with new infrastructure.
Report Coverage
Global Surge Arrester research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Surge Arrester report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Surge Arrester competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Surge Arrester market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Siemens (Germany), GE Oil & Gas (U.S.), Hubbell (U.S.), Schneider Electric (France), Mitsubishi Electric (Japan), CG Power (India), NGK Insulators (Japan), ABB (Switzerland), Eaton (Republic of Ireland), Legrand S.A (France), Emerson Electric (U.S.), HAKEL spol. S r. (Czech Republic), Vertiv. (U.S.), TE Connectivity (Switzerland), Lamco (India), leviton manufacturing (U.S.), Raycap Corporation SA (U.S.) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Surge Arrester Market from 2021 to 2030.
- Market Forecast for Surge Arrester Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Surge Arrester competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Surge Arrester
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Surge Arrester market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Surge Arrester market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Siemens (Germany), GE Oil & Gas (U.S.), Hubbell (U.S.), Schneider Electric (France), Mitsubishi Electric (Japan), CG Power (India), NGK Insulators (Japan), ABB (Switzerland), Eaton (Republic of Ireland), Legrand S.A (France), Emerson Electric (U.S.), HAKEL spol. S r. (Czech Republic), Vertiv. (U.S.), TE Connectivity (Switzerland), Lamco (India), leviton manufacturing (U.S.), Raycap Corporation SA (U.S.)
Primary Target Market
- Market Players of Surge Arrester
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Surge Arrester market based on the below-mentioned segments:
Global Surge Arrester Market, By Type
Polymeric
Porcelain
Global Surge Arrester market, By Application
Industrial
Commercial
Residential
Global Surge Arrester Market, By Voltage
Low
Medium
High
Global Surge Arrester market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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