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Surge Arrester Market worth $1.68 billion by 2030, growing at a CAGR of 5.16% - Exclusive Report by 360iResearch
Surge Arrester Market | 360iResearch
The Global Surge Arrester Market to grow from USD 1.18 billion in 2023 to USD 1.68 billion by 2030, at a CAGR of 5.16%.
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Surge arresters are essential components in electrical systems that play a critical role in protecting infrastructure from voltage spikes. These devices are engineered to safely divert excessive voltage surges away from sensitive equipment, thereby preventing damage and ensuring operational continuity. Surge arresters are widely utilized across various industries, including telecommunications, power generation, and distribution systems. Their functionality hinges on their ability to conduct the surge current to the earth while blocking the normal operating current, effectively preventing the buildup of excess electrical pressure without disrupting the system's normal operations. The increasing demand for electrical energy, the expansion of power distribution networks, and the rising emphasis on electrical infrastructure safety have contributed to the growing need for surge arresters. Additionally, regulatory policies focusing on energy efficiency and safety standards and the growing adoption of renewable energy sources contribute to the market expansion. However, technical limitations, the possibility of aging and degradation, and the inability of certain surge arresters to handle high voltages can raise concerns about the efficiency and reliability of surge arresters. Additionally, the vulnerability of power systems to cyber-attacks with the increasing smart grid deployments also poses a significant challenge. However, key players are exploring advancements in smart surge protection solutions integrating predictive analytics and IoT for real-time monitoring and blockchain technology to safeguard cybersecurity. The development of high-performance materials for surge arresters that ensure a longer lifespan and improved reliability under extreme conditions can also support the growth of surge arresters. Exploring cost-effective manufacturing processes and eco-friendly materials can address the challenges of high investment costs and environmental concerns.
The Americas region, particularly the United States and Canada, witnessed a steady demand for surge arresters, driven by robust industrial, commercial, and residential infrastructure. Enhanced grid modernization efforts and the replacement of old electrical infrastructure are significant drivers contributing to the growth of surge arresters. Customer purchasing behavior leans towards high-quality and technologically advanced products, underlining the importance of innovation and reliability. The European Union (EU) region for surge arresters is characterized by stringent regulatory standards and a high level of environmental awareness. This has led to an increased demand for eco-friendly and energy-efficient surge protection solutions. EU's widespread efforts towards renewable energy sources further bolster the adoption of surge arresters. The APAC region, particularly China, Japan, and India, presents a crucial market for surge arresters due to rapid industrialization, urbanization, and expansion of power distribution networks. Government support for the deployment of smart grids and incentives to support the integration of renewable energy sources in energy infrastructure has consequently created a favorable landscape for the deployment of surge arresters.
Market Segmentation & Coverage:
This research report categorizes the Surge Arrester Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Voltage, market is studied across High Voltage, Low Voltage, and Medium Voltage. The High Voltage commanded largest market share of 53.00% in 2023, followed by Medium Voltage.
Based on Type, market is studied across Polymeric and Porcelain. The Porcelain commanded largest market share of 63.97% in 2023, followed by Polymeric.
Based on Class, market is studied across Distribution Class, Intermediate Class, and Station Class. The Station Class commanded largest market share of 42.70% in 2023, followed by Distribution Class.
Based on End User, market is studied across Industries, Transportation, and Utilities. The Utilities commanded largest market share of 53.79% in 2023, followed by Industries.
Based on Application, market is studied across AIS and GIS. The AIS commanded largest market share of 63.15% in 2023, followed by GIS.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 38.64% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Surge Arrester Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Surge Arrester Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Surge Arrester Market, highlighting leading vendors and their innovative profiles. These include ABB Limited, CG Power and Industrial Solutions Ltd., Cisco Systems, Inc., DEHN SE, Eaton Corporation PLC, Elektrolites (Power) Pvt. Ltd., Elpro International Ltd., Emerson Electric Co., Ensto Oy, General Electric Company, HAKEL spol. s r.o., Hitachi Energy Ltd., HM Cragg, Honeywell International Inc., Huawei Technologies Co., Ltd., Hubbell Incorporated, Legrand S.A., Leviton Manufacturing Co., Inc., Meidensha Corporation, Mitsubishi Corporation, Oblum Electrical Industries (P) Ltd., Schneider Electric SE, Siemens AG, STM Electronics, TE Connectivity Ltd., Toshiba Corporation, and Zhejiang Haivo Electrical Co., Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Surge Arrester Market, by Voltage
7. Surge Arrester Market, by Type
8. Surge Arrester Market, by Class
9. Surge Arrester Market, by End User
10. Surge Arrester Market, by Application
11. Americas Surge Arrester Market
12. Asia-Pacific Surge Arrester Market
13. Europe, Middle East & Africa Surge Arrester Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Surge Arrester Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Surge Arrester Market?
3. What is the competitive strategic window for opportunities in the Surge Arrester Market?
4. What are the technology trends and regulatory frameworks in the Surge Arrester Market?
5. What is the market share of the leading vendors in the Surge Arrester Market?
6. What modes and strategic moves are considered suitable for entering the Surge Arrester Market?
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