Global Surge Arrester Market, By Type (Polymeric, porcelain), End User (Utilities, Industries, Transportation), Voltage (Medium Voltage, High Voltage, Extra High Voltage), Class (Distribution Class, Intermediate Class, Station Class), Application (Industrial, Commercial and Residential)– Industry Trends and Forecast to 2029
Surge Arrester Market Analysis and Size
Surge arresters are used to protect electronic machineries and appliances from damage which caused by sudden voltage surges. Its market is steadily developing, so it becomes very important to systematically study market dynamics. The surge arresters are fixed on the conductors before it enters in the electrical equipment. The market is anticipated to grow due to the growing demand for electronic appliances and machineries in households overall the globe. The surge arresters market is generally driven due to the increasing disposable income and changing lifestyle of the working population, which is producing a requirement for automated electronic products to save time and enjoy the comfort by decreasing household work.
Data Bridge Market Research analyses that the surge arrester market was valued at USD 1.94 billion in 2021 and is expected to reach USD 3.36 billion by 2029, registering a CAGR of 7.10% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Polymeric, porcelain), End User (Utilities, Industries, Transportation), Voltage (Medium Voltage, High Voltage, Extra High Voltage), Class (Distribution Class, Intermediate Class, Station Class), Application (Industrial, Commercial and Residential)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Siemens AG (Germany), GE DIGITAL (U.K.), Hubbell (U.S.), Schneider Electric (France), CG Power & Industrial Solutions Ltd (India), NGK INSULATORS, LTD. (Japan), ABB (Switzerland), Legrand S.A (France), Emerson Electric Co. (U.S.), CS Technologies s.r.o (Czech Republic), Vertiv Group Corp. (U.S.), TE Connectivity (Switzerland), Lamco Industries Pvt Ltd (India), Leviton Manufacturing Co., Inc. (U.S.), Raycap (U.S.), General Electric (U.S), MEIDENSHA CORPORATION (Japan), Toshiba Corporation (Japan)
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Market Opportunities
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Market Definition
Surge arresters are hermetically sealed gas discharge tubes which is containing two or three electrodes and properly spaced by insulators and filled with a noble gas. The main application of surge arrester is to offer a conductive path for excessive and unwanted transients, thus preventing the transient voltage and energy from damaging components and equipment and causing harm to people.
Surge Arrester Market Dynamics
Drivers
- Increasing electrification
The rising electrification of conventionally non-electric industry, such as transportation, because of the adoption of electric vehicles upsurge the demand for electricity which is expected to drive the growth rate of the surge arrested market during the forecast period.
- Rise in power generation
The increase in power generation is likely to rise the demand for surge arresters in the market. The growing concerns over the depleting energy resources are expected to increase the production of electricity from non-renewable resources which are expected to drive the growth of the surge arresters in the forecast period of 2022-2029.
Apart from this, the growing industrialization in emerging economies is also projected to stimulate the demand for these arresters over the next few years.
Opportunities
- Technological advancement and investments
However, several nations are shifting towards green energy power generation due to the fast-paced technological advancements. The technological advancement in surge arrester decline the installation costs which are assisting the growth of renewable energy technologies. Also, increase the Investments in renewable energy technologies globally. These are the major factor which will create immense opportunities for the growth of the surge arrester market in upcoming years
Furthermore, emerging new markets and increase the number strategic collaborations will act as market drivers and further increase immense opportunities for the market's growth rate.
Restraints/ Challenges
- Time consuming
Distribution projects and Power transmission are time-consuming and have long lead times which may be the major factor restraining the demand of surge arrester market. The larger the scale of project, the longer the period of the distribution project and transmission. Furthermore, the delays in grid expansion projects make the manufacturing planning very challenging for the surge arrester manufacturers, obstructing the market growth rate.
Also, rising competition from unorganized power industry and cost of installation of surge arrester, mainly in developing economies will also act as market restraint and further challenge the growth rate of the surge arrester market.
This surge arrester market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the surge arrester market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In November 2020, Hitachi ABB Power Grids in Xiamen, China has opened a new surge arrester factory that incorporates the latest advanced manufacturing processes and is likely to support China's growth towards a sustainable future.
- In June 2020, Siemens Energy won a agreement from the Iraqi Ministry of Electricity for the equipment supply, design, construction, and commissioning of the 400 kV Al Hamudhia substation.
- In April 2020, Hitachi ABB Power Grids has signed a 5-year framework agreement with one of the major utilities in south America to supply air-insulated switchgear (AIS), circuit breakers, gas-insulated switchgear (GIS), instrument transformers, shunt reactors, and hybrid modules.
Global Surge Arrester Market Scope
The surge arrester market is segmented on the basis of type, end user, voltage, class and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Polymeric
- Porcelain
End User
- Utilities
- Industries
- Transportation
Voltage
- Medium Voltage
- High Voltage
- Extra High Voltage
Class
- Distribution Class
- Intermediate Class
- Station Class
Application
- Industrial
- Commercial and Residential
Surge Arrester Market Regional Analysis/Insights
The surge arrester market is analysed and market size insights and trends are provided by country, type, end user, voltage, class and application as referenced above.
The countries covered in the surge arrester market report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the surge arrester market in terms of market share revenue in the forecast period. This is due to large expenditures on power generation and growing demand for electrical energy in this region.
Asia-Pacific is expected to be the fastest developing region due to the increased investments in UHV and EHV transmission projects in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Surge Arrester Market Share Analysis
The surge arrester market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to surge arrester market.
Some of the major players operating in the surge arrester market are:
- Siemens AG (Germany)
- GE DIGITAL (U.K.)
- Hubbell (U.S.)
- Schneider Electric (France)
- CG Power & Industrial Solutions Ltd (India)
- NGK INSULATORS, LTD. (Japan)
- ABB (Switzerland)
- Legrand S.A (France)
- Emerson Electric Co. (U.S.)
- CS Technologies s.r.o (Czech Republic)
- Vertiv Group Corp. (U.S.)
- TE Connectivity (Switzerland)
- Lamco Industries Pvt Ltd (India)
- Leviton Manufacturing Co., Inc. (U.S.)
- Raycap (U.S.)
- General Electric (U.S.)
- MEIDENSHA CORPORATION (Japan)
- Toshiba Corporation (Japan)
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