Stratview Research has published a new report titled ‘Surge Arrester Market’ to its database. It has segmented the market by Voltage Type (Low, Medium, and High), by Class Type (Distribution, Intermediate, and Station), by Material Type (Polymer and Porcelain), by Application Type (Residential & Commercial, Industrial, and Utility), and by Region (North America, Europe, Asia-Pacific, and the Rest of the World).

Market Insights

The surge arrester market was estimated at USD 1.6 billion in 2021 and is likely to grow at a CAGR of 5.5% during 2022-2028 to reach USD 2.33 billion in 2028.

What is a surge arrester?

A surge arrester is basically a device that is used to provide protection to electrical equipment in power transmission and distribution systems, from over-voltage transients caused by external lightning or internal switching events.

Market Dynamics

The growth of the surge arrester market is primarily driven by-

• Growing electricity demand,
• Large-scale renewable integration,
• Refurbishment of existing grid networks,
• Increasing electric infrastructure spending.

Market Segments' Analysis

The market researchers have studied the Surge Arrester Market minutely for better understanding. The report consists of segment-wise details to assist the users in making suitable decisions for better growth opportunities. Below is a short piece of information -

Based on the voltage type, the market is segmented as low, medium, and high. Low voltage is estimated to witness significant growth in the market during the forecast period owing to the growing electrification of rural areas across developing economies coupled with the rapid expansion of residential establishments. On the other hand, medium voltage is also estimated to register significant growth in the market during the forecast period owing to rapid industrialization on account of economic diversification.

Based on the class type, the market is segmented into distribution, intermediate, and station. Distribution class is estimated to witness high growth in the market during the forecast period on account of the superior overvoltage protection provided by it. Further, station class is also estimated to account for a significant share of the market owing to various lucrative features, such as high-pressure relief capability, superior performance to resist contamination, high durability, and excellent cantilever strength offered by it.

Based on the material type, the market is segmented as polymer and porcelain. The polymer material is estimated to register a high growth rate in the market during the forecast period. The growth of the segment is attributed to its extensive suitability across distinct voltage ranges and features, such as easy handling & installation, low manufacturing & operational cost, and reliable performance in harsh environments. Further, porcelain is also estimated to witness significant growth in the market owing to its capability to be self-supporting and resist environmental aging.

Based on the application type, the market is segmented as residential & commercial, industrial, and utility. The industrial segment is estimated to account for the major share of the market on account of the growing focus on mitigating power quality issues across the industrialized economies, fueling the overall industry growth during the forecast period.

In terms of regions, Europe is estimated to be the leading region in the market during the forecast period owing to growing investments by the government imposing stringent regulations to modernize smart grid infrastructures. In addition, in North America, the U.S. is estimated to account for a significant share of the market on account of increasing investments by utilities toward capital additions coupled with increasing security compliance standards, fueling the regional market growth. Moreover, Asia-Pacific is also estimated to offer substantial growth opportunities over the forecast period.

Highlights of the report:

The report also highlights the following segments -

• The market structure and forecasts for the coming years.
• Drivers, restraints, opportunities, and current trends of the Surge Arrester Market.
• Historical data and forecast.
• Estimations for the forecast period 2026.
• Developments and trends in the market.

Our market research experts have studied the Surge Arrester Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-chain, pricing trends, product preferences, consumer patterns & more. The findings are further validated through primary research with industry experts across the globe.

Key Players

Key players operating in the global Surge Arrester market are-

• ABB Limited
• CG Power and Industrial Solutions Limited
• DEHN
• Eaton Corporation
• General Electric
• Hakel
• Hubbell Power Systems
• INAEL Electrical Systems
• Siemens AG
• TE Connectivity.

Reasons to Invest in this Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period.
• Segments include quantitative, qualitative, and value data.
• Regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.

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About Us

Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful market data to aid strategic decision making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.