Surge Arrester Market: Safeguarding Electrical Systems | Asia-pacific 4.8% Growing by Japan, South Korea, China, Singapore, Australia

According to a new report published by Allied Market Research, The surge arrester market size was valued at $1.4 billion in 2021, and is estimated to reach $2.2 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.

A surge arrester, also known as a surge protector or lightning arrester, is a protective device designed to limit voltage spikes or transient overvoltages in electrical systems. These sudden voltage spikes can be caused by lightning, switching operations, or other disturbances in the power grid. Surge arresters are crucial components in safeguarding electrical equipment and systems from potential damage.

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Asia-pacific is expected to grow at the fastest rate, registering a CAGR of 4.8%, throughout the forecast period.

Asia-Pacific and Europe market for surge arrester are the top investment pockets, owing to various factors such as growing transmission & distribution network, increased use of smart grid, and rise in demand from residential sector owed to electricity connectivity in remote areas.

Top Companies

Hitachi, ABB, Siemens Energy, General Electric, Eaton, Hubbell, CG Power, Schneider Electric, Meidensha, Mitsubishi Electric, and Toshiba.

Industrial end-user is the fastest-growing segment in the global surge arrester market, expected to grow at a CAGR of 5.0% during 2021-2031.

Commonly used in power distribution systems, substations, and other critical infrastructure to ensure the reliability and longevity of electrical components.

Surge arresters protect electrical equipment by diverting excessive voltage away from the system, preventing damage that could result from over voltages.

The companies involved in the manufacturing of surge arresters focus on reducing the cost of surge arresters, which will provide more benefits to the consumers. This development will help the surge arresters to penetrate more in the market. The surge arresters find their applications in diverse sectors such as commercial, industrial, and residential.

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In 2021, the polymeric surge arrester segment accounted for about 69.5% of the share in the global surge arrester market, and is expected to maintain its dominance till the end of the forecast period.

In 2021, the medium voltage range segment accounted for 44.8% surge arrester market share in the year 2021.

The market is consolidated in nature, and is expected to grow at a significant rate during the forecast period. This is attributed to rise in demand for protection of electrical and electronics devices from sudden power surges.

Especially important for protecting against lightning-induced surges, as lightning strikes can introduce extremely high voltages into the power grid.

Surge arresters play a critical role in protecting electrical systems and equipment from the damaging effects of voltage surges, thereby ensuring the continuous and reliable operation of power networks and connected devices.

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The increased emphasis on boosting renewable energy installed capacity, are prompting private companies to invest in electricity transmission and distribution networks, as well as electrification projects, which further promotes the market growth for surge arresters.

The surge arrester industry is not heavily regulated by government across the globe. There are several certifications for different materials of surge arresters that are needed to be acquired by manufacturers.

Manufacturer are required to consider spacings, power concerns, and isolation requirements in the design phase and overcurrent protection requirements.

There are regulations that require consideration of geographic locations of the country, whether it is an area with extra power surges and lightening incidences and frequency of such events.

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There are different standards defined for different low voltage range, high voltage range, and medium voltage range surge arresters. It also varies according to the material of surge arresters.

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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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