PUBLISHER: Global Insight Services | PRODUCT CODE: 1598668
PUBLISHER: Global Insight Services | PRODUCT CODE: 1598668
The global surge arrester market is anticipated to expand from $2.1 billion in 2023 to $4.5 billion by 2033, reflecting a CAGR of 7.8%.
The surge arrester market encompasses the industry dedicated to manufacturing and distributing devices designed to protect electrical equipment from over-voltage transients caused by external or internal events. This market includes various types of arresters, such as gapless metal-oxide varistor (MOV) and silicon carbide, catering to sectors like utilities, industrial, and residential. Key drivers include rising investments in renewable energy, increasing demand for reliable power supply, and the growing need for electrical infrastructure protection, fostering advancements and innovations in surge protection technologies.
The surge arrester market is witnessing robust growth, driven by rising investments in power infrastructure and the need for reliable electricity distribution. Within the segment, medium voltage surge arresters lead due to their widespread application in industrial and commercial settings. High voltage surge arresters are the second-highest performing sub-segment, reflecting growing demand from utilities and transmission networks. The residential segment is also expanding, propelled by increasing consumer awareness about electrical safety. Regionally, Asia-Pacific dominates the market, benefiting from rapid urbanization, industrialization, and substantial infrastructure development in countries like China and India. North America follows as the second-largest market, supported by the modernization of aging power infrastructure and the integration of renewable energy sources. Europe showcases steady growth, driven by stringent regulatory standards and the transition to smart grid technologies. Innovations in materials and design, along with strategic collaborations, are further enhancing the market's growth trajectory.
Key Companies
Hubbell Power Systems, Arteche, DEHN SE, Ensto, Nexans, Mitsubishi Electric Corporation, Siemens Energy, TE Connectivity, Schneider Electric, Eaton, ABB, General Electric, Toshiba Energy Systems, Crompton Greaves, Emerson Electric, Hitachi Energy, Phoenix Contact, Littelfuse, Raycap, Tridelta Meidensha, Surge Shield Technologies, Volt Guard Innovations, Arrest Pro Solutions, Current Safe Systems, Lightning Guard Enterprises, Power Defend Co, Electro Shield Dynamics, Storm Safe Technologies, Surge Secure Enterprises, Volt Protect Innovations, Shield Wave Systems, Arrest Safe Solutions, Thunder Guard Co, Power Shield Dynamics, Electro Safe Enterprises, Storm Guard Technologies, Surge Defend Innovations, Volt Safe Systems, Shield Guard Co, Arrest Guard Dynamics
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