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Surge Arrester Market worth $2.01 Billion by 2023

10-30-2018 12:12 PM CET | Energy & Environment

Press release from: MarketsandMarkets.com

According to the new market research report "Surge Arrester Market by Type (Polymeric, Porcelain), Voltage (Medium, High, Extra-High), Class (Distribution, Intermediate, Station), End-User (Utilities, Industries, Transportation), and Region - Global Forecast to 2023", published by MarketsandMarkets™, The surge arrester market is expected to grow from an estimated USD 1.56 Billion in 2018 to USD 2.01 Billion by 2023, at a CAGR of 5.11%, during the forecast period. The positive growth rate of this market can be attributed to investments in smart grids and energy systems, the need to reduce equipment failure caused by frequent voltage spikes, and aging power infrastructure.

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Extra-high voltage surge arresters find application in utilities to protect switchgears, transformers, circuit breakers, and overhead lines, among others. In the US the majority of the transmission infrastructure was installed between 1960 and 1970; this aging infrastructure needs to be replaced, which is expected to drive the surge arrester market during the forecast period.

Browse and in-depth TOC on "Surge Arrester Market"
72 - Tables
39 - Figures
130 - Pages

View more detailed TOC @
https://www.marketsandmarkets.com/Market-Reports/surge-arrester-market-4410948.html

Target Audience:
• Transmission and distribution utilities
• State and national regulatory authorities
• Power generation utilities
• Consulting companies and associations in the energy and power sector
• Government and research organizations
• Surge arrester manufacturers
• Investment banks
• Engineering, procurement, and construction companies in the distribution sector

The surge arrester market has been analyzed with respect to 5 regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Europe is expected to hold the largest share of this market during the forecast period. European utilities are in the process of revaluating their assets and are shifting their focus to long-term sustainable business. The power generation, transmission, and distribution systems in the region are comparatively mature. The EU is focusing on upgrading its aging infrastructure, integrating renewable energy sources such as solar and wind power, and building interconnections to enable more efficient power and energy trading.

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In this industry, most players are global multinational companies. Some of the leading players in the surge arrester market include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Hubbell (US), Schneider (France), CG Power (India), GE (US), Mitsubishi Electric (Japan), TE Connectivity (Switzerland), CHINT Group (China), and Lamco (India).

Browse Adjacent Markets @ Energy and Power Market Research Reports & Consulting

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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