Demand for the Surge Arrester Market is projected to reach a value of US$ 3.26 billion by 2033

The global surge arrester market (避雷器市場) was valued at US$ 2.01 billion in 2023 and is anticipated to reach US$ 3.26 billion by 2033, with a projected compound annual growth rate (CAGR) of 5% during the forecast period from 2023 to 2033.

Market Dynamics:

The surge arrester market has witnessed significant growth in recent years, driven by the increasing demand for reliable and uninterrupted power supply across various industries. Surge arresters, also known as surge protectors, are essential components in electrical systems, protecting them from transient overvoltage conditions caused by lightning strikes or switching operations.

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One of the key drivers of the surge arrester market is the growing awareness among industries about the importance of protecting their equipment and systems from voltage surges. The increasing use of sensitive electronic devices and equipment in industries such as telecommunications, healthcare, and manufacturing has further fueled the demand for surge arresters.

Moreover, the expansion of the renewable energy sector, particularly solar and wind energy, has created new opportunities for the surge arrester market. These energy sources are often located in remote areas and are susceptible to lightning strikes, making surge protection crucial for their reliable operation.

However, the surge arrester market (서지 방지기 시장) faces challenges such as the high cost of installation and maintenance, especially for large-scale industrial applications. Additionally, the market is highly competitive, with several players offering a wide range of products, leading to price competition and margin pressures.

List of Key Companies Profiled in The Report

Eaton
Mitsubishi Electric
Toshiba
Hubbell
Legrand
Meidensha
Tripp Lite
ABB Ltd
CG Power and Industrial Solutions Ltd
General Electric Company
Siemens AG
Schneider Electric SE

Market Future Outlook:

The surge arrester market is expected to continue its growth trajectory in the coming years, driven by factors such as the increasing investments in infrastructure development, the rising adoption of smart grids, and the growing emphasis on renewable energy sources. The market is also likely to benefit from technological advancements, such as the development of more efficient and reliable surge protection devices.

Furthermore, the surge arrester market is expected to witness significant growth in developing regions, where there is a growing need to upgrade and modernize existing electrical infrastructure. Governments and regulatory bodies are also expected to play a key role in driving the adoption of surge arresters by implementing stringent safety regulations and standards.

Market Insights:

The surge arrester market (marché des parafoudres) is segmented based on type, voltage rating, end-user, and region. On the basis of type, the market is segmented into station class, intermediate class, distribution class, and others. Station class surge arresters are used in high-voltage applications such as substations, while distribution class surge arresters are used in low-voltage applications such as residential and commercial buildings.

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By voltage rating, the market is segmented into low voltage, medium voltage, and high voltage. Low-voltage surge arresters are used in residential and commercial applications, while medium and high-voltage surge arresters are used in industrial and utility applications.

Recent Developments:

Expanding their surge protection solutions to cover different voltage levels, industries, and applications is helping top companies in the surge arrester technology market attract a broader customer base and increase their market share.

The development of innovative surge arrester products with advanced features, improved performance, and compatibility with various applications is also driving revenue growth for key market players.

In July 2021, General Electric (GE) secured a supply agreement with GSI Helmholtzzentrum für Schwerionenforschung, a renowned research institution managing an ion accelerator complex in Darmstadt, Germany. Under this contract, GE is providing the research facility with its advanced LV8 platform, which includes power transformers, medium-voltage switchgear, surge arresters, and other components.

Explore More Related Studies Published by Fact.MR Research:

AV Surge Protectors Market (AV 서지 보호기 시장): https://www.factmr.com/report/2592/av-surge-protectors-market

Lightning Protection Technologies (LPT) Market (雷保護技術（LPT）市場): https://www.factmr.com/report/2764/lightning-protection-technologies-market

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