Market For Surge Arrester Is Expected To Increase At 5.1% CAGR Through 2032 In North America - FMI

The global surge arrester market is expected to reach US$ 1.5 billion in 2021, representing a 4.1 percent year-on-year increase. Surge arrester sales are predicted to grow at a CAGR of 5.0 percent, reaching a valuation of US$ 2.6 billion by 2032.

Growth can be ascribed to rising global energy demand, growing industrialization, and improved urban infrastructure. Furthermore, rising investments in smart cities are likely to fuel surge arrester demand in the future years.

Increased machine utilization and demand for high-quality products in various industries, as well as the integration of smart devices into machinery, are some of the factors driving the Surge Arrester Market in the industrial automation industry. Automation is being implemented in industries to boost productivity and lower labour expenses. FMI delivers deep market insights for Market players to use in developing long-term plans to keep their competitive advantage in the industry.

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Our analysts use primary and secondary research, as well as a wide range of data sets obtained from organic and inorganic sources, to produce forecasts for the following decade.

Understanding the Impact of Covid-19 on Industrial Automation Industry

The COVID-19 outbreak has been posing staggering challenges for the industry. Like other industries, the industrial automation industry has been particularly affected due to the lack of equipment and availability of the products. Furthermore, dearth of labor, factory closures, and supply restrictions induced by the pandemic crisis resulted in slight setback in 2020.

Lack of human assistance and key player's hesitation in investing for high-end machineries during the pandemic has negatively impacted the industrial automation industry in 2020. However, with relaxation in lockdown, the Surge Arrester Market has picked up the pace.

The FMI's recent report talks about the Market scenario in the chapter on the Covid-19 impact analysis to aid the Market players for the upcoming years. The report gives a detailed Market analysis surrounding the Market condition and its impact on the Surge Arrester Market.

Key Questions Answered in the Report

- What are the key trends and challenges that will affect global Surge Arrester Market in upcoming years?
- What are the factors that will influence the Surge Arrester Market demand?
- Which region will be the most lucrative for Surge Arrester Market throughout the forecast period?
- How will evolving regulatory policies impact the Market growth?
- What is the impact of Covid-19 on the Surge Arrester Market?
With a detailed segmentation on segments and sub-segments, the FMI's study offers the strengths, weaknesses, growth prospects and opportunities of each player. The report also includes important Market study including the historical revenue prospects, pricing strategy, and Marketing strategy adopted by these players in the Surge Arrester Market

Why Future Market Insights?

 - Comprehensive analysis on evolving purchase pattern across different geographies
- Detailed insights of Market segments and sub-segments for historical as well as forecast period
- A competitive analysis of prominent players and emerging players in the Surge Arrester Market
- Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years
- Ground breaking research and Market player-centric solutions for the upcoming decade according to the present Market scenario

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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

This release was published on openPR.