PUBLISHER: The Business Research Company | PRODUCT CODE: 1674007
PUBLISHER: The Business Research Company | PRODUCT CODE: 1674007
A surge arrester is a protective device designed to limit voltage on equipment by discharging or bypassing surge current in substations, including transformers, circuit breakers, and bushings. Its purpose is to safeguard against the effects of lightning and switching surges, preventing the continued flow of current to ground. Surge arresters are capable of repeating these protective functions in accordance with ANSI standard C62.
The primary types of surge arresters are polymeric and porcelain. Polymeric surge arresters are characterized by being lightweight and hydrophobic, making them suitable for the protection of electrical equipment in both indoor and outdoor systems. These are gapless zinc oxide surge arresters designed for the overhead distribution network. Their optimal mechanical strength allows for use in harsh environmental conditions. Surge arresters are classified into distribution class, intermediate class, and station class, with voltage types including low voltage surge arresters, medium voltage surge arresters, and high voltage surge arresters. They find applications in both AIS (air-insulated substation) and GIS (gas-insulated substation). End-users of surge arresters include utilities, industries, transportation, and other sectors.
The surge arresters market research report is one of a series of new reports from The Business Research Company that provides surge arresters market statistics, including surge arresters industry global market size, regional shares, competitors with a surge arresters market share, detailed surge arresters market segments, market trends and opportunities, and any further data you may need to thrive in the surge arresters industry. This surge arresters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The surge arrester market size has grown strongly in recent years. It will grow from $2.28 billion in 2024 to $2.46 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to the rise in power consumption, increasing government investments to support energy infrastructure, strong economic growth in emerging markets and increasing investments in transmission and distribution (T&D) networks.
The surge arrester market size is expected to see strong growth in the next few years. It will grow to $3.34 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to the increasing demand for electricity, growing investments in renewable energy and rapid industrialization and growth in manufacturing industries. Major trends in the forecast period include focus on developing new technological solutions, focus on launching IoT (internet of things) connected devices and solutions, focus on expanding production facilities and focus on mergers and acquisitions.
The increasing demand for electricity is fueling growth in the market. This rise can be attributed to growing populations and a higher usage of electrical and electronic appliances, particularly in developing countries like China, India, Brazil, and certain African nations. For example, in August 2024, the World Economic Forum, a Switzerland-based non-governmental organization, reported that electricity demand is projected to rise by approximately 4% in 2024, up from 2.5% in 2023. Additionally, the share of renewable electricity sources is expected to grow significantly, from 30% in 2023 to 35% in 2025. Consequently, the increasing demand for electricity is driving growth in the surge arrester market.
The rapid industrialization and growth of manufacturing industries are expected to drive the surge arrester market. For example, in December 2023, the National Institute of Standards and Technology (NIST), a US government agency, reported that manufacturing contributed $2.3 trillion to the U.S. GDP in 2022, accounting for 11.4% of the total GDP. Additionally, producer prices for all manufacturing increased by 33.4% over the two years from July 2020 to July 2022. Therefore, this rapid industrialization is a key factor driving growth in the surge arrester market.
Leading companies within the surge arrester market are intensively focused on pioneering new technological innovations to fortify their market standing. As an illustration, in November 2022, Hitachi ABB Power Grids (Hitachi Energy), a Swiss-based manufacturer and developer specializing in power transformers and substations, introduced a novel digital solution aimed at enhancing grid resilience against wildfires. The Wireless Spark Prevention Unit (SPU) Indicator, a part of this solution, empowers utilities by facilitating remote monitoring. This innovation enables improved maintenance practices and strategic planning for asset replacement, contributing to the preservation of critical assets.
Major companies in the surge arrester market are concentrating on developing innovative surge protectors to enhance electrical protection systems, ensuring the safety and reliability of electrical networks for both residential and commercial applications. For example, in June 2024, Belkin International, Inc., a US-based consumer electronics company, launched a new surge protection lineup designed to protect home and office electronics from power surges and spikes. This range includes multiple outlet options, fast charging capabilities, and a comprehensive Connected Equipment Warranty that covers damages up to $70,000 for devices connected to their surge protectors.
In August 2024, CSW Industrials, a US-based company specializing in pre-engineered materials, acquired PSP Products for an undisclosed amount. This acquisition allows CSW Industrials to enhance its market presence and product offerings by incorporating PSP Products' innovative surge protection and load management technologies into its Contractor Solutions segment. PSP Products, Inc. is a US-based manufacturer of surge arresters.
Major companies operating in the surge arrester market include Siemens Energy, General Electric, Schneider Electric, Hubbell, Hitachi, CG Power And Industrial Solutions Ltd, Mitsubishi Electric, Legrand Sa, Eaton Corporation Plc, Meidensha, Valuepower Earthing Private Limited, Ideal Engineers, Pentagon Earthing & Lightning Arrester, Abcot Lighting Protection System Private Limited, Hangzhou Yongde Electric Appliances Co Ltd, Yueqing Sarah Electrical Technology Co Ltd, Wenzhou Yikun Electric Co. Ltd, Yueqing Wortai Electric Co. Ltd, Zhejiang Haivo Electrical Co. Ltd, Zhejiang Zhongneng Electrical Co. Ltd, Otowa Electric Co. Ltd, Ngk Insulators, Abb, Emerson Electric, Hakel Spol. S R., Vertiv, Te Connectivity, Lamco, Leviton Manufacturing, Raycap Corporation Sa, Interconexion Electrica, Enel X, Al Yamuna Densons, Dehn, Saudi Electricity Company
North America was the largest region in the surge arresters market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surge arrester market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the surge arrester market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The surge arrester market consists of sales of Silicon Carbide (SiC) Valve-type surge arresters, and metal-oxide surge arresters (MOSA) including gapless, series-gapped, and shunt-gapped. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Surge Arrester Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on surge arrester market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for surge arrester ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The surge arrester market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.