Market Size of Surge Arrester Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Surge Arrester Market Analysis
The surge arrester market is expected to grow at a CAGR of over 5% during the forecast period of 2020 - 2025. Factors such as big investments in energy systems and smart grids, equipment protection from sudden voltage fluctuations and aging power infrastructure in developed countries are expected to be driving the market. The rising demand for electricity from all the three sectors, namely industrial, commercial, and residential is expected to help the surge arrester market to grow. However, product counterfeiting by local players have somewhat hampered the growth of the market.
- Industrial sector is expected to witness a significant growth in forecast period, owing to various factors such as economic growth, and rise in industrial capacities of developing nations such as India, China, Etc.
- The increasing demand for electrical energy to sustain global development requires consistent heavy investments in power supply generation. This has provided the market for surge arrester an opportunity to grow in recent years and is expected to do so in forecast period.
- Asia Pacific is expected to dominate the market growth with majority of the demand coming from the countries such as the China and India, owing to the factors like economic growth in the emerging nations, increasing access to electricity, and rising industrial activities.
Surge Arrester Industry Segmentation
The surge arrester market report include:
| Voltage | |
| Low Voltage | |
| Medium Voltage | |
| High Voltage |
| Application | |
| Industrial | |
| Commercial | |
| Residential |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Surge Arrester Market Size Summary
The surge arrester market is poised for significant growth, driven by substantial investments in energy systems and smart grids, as well as the need for equipment protection against voltage fluctuations. The aging power infrastructure in developed countries further propels this demand. The market is bolstered by the increasing electricity demand across industrial, commercial, and residential sectors. However, challenges such as product counterfeiting by local players have somewhat impeded market expansion. The industrial sector, in particular, is expected to experience robust growth due to economic development and increased industrial capacities in emerging nations like India and China. This growth is supported by the necessity for consistent investments in power supply generation to meet the rising global energy demands.
Asia Pacific is anticipated to lead the surge arrester market, with China and India contributing significantly to this growth. The region's dominance is attributed to economic growth, enhanced electricity access, and escalating industrial activities. The surge arrester market benefits from the rapid urbanization and industrialization in these developing countries. The focus on minimizing equipment downtime and addressing power quality issues due to voltage spikes has also fueled market expansion. The market landscape is moderately fragmented, with major players like ABB Ltd., Siemens AG, and General Electric Company actively participating. These companies are well-positioned to capitalize on the growth opportunities presented by the region's expanding industrial, residential, and commercial sectors.
Surge Arrester Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast, in USD billion, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies & Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Voltage
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2.1.1 Low Voltage
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2.1.2 Medium Voltage
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2.1.3 High Voltage
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2.2 Application
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2.2.1 Industrial
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2.2.2 Commercial
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2.2.3 Residential
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South America
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2.3.5 Middle-East and Africa
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Surge Arrester Market Size FAQs
What is the current Surge Arrester Market size?
The Surge Arrester Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Surge Arrester Market?
ABB Ltd, CG Power and Industrial Solutions Ltd, General Electric Company , Siemens AG and Schneider electric SE are the major companies operating in the Surge Arrester Market.
