Surge Arrester Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth

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Surge Arrester Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the surge arrester market has seen substantial growth. The market size is projected to increase from $2.28 billion in 2024 to $2.46 billion in 2025, featuring a compound annual growth rate (CAGR) of 7.6%. The factors contributing to the market's growth during the historic period include higher power consumption rates, increased governmental support for energy infrastructure, robust economic progress in emerging markets, and a hike in investments for transmission and distribution (T&D) networks.

Surge Arrester Market Size Forecast: What's the Projected Valuation by 2029?
Anticipations suggest a solid increase in the surge arrester market in the upcoming years, projecting a growth to $3.34 billion in 2029 with a compound annual growth rate (CAGR) of 7.9%. Several factors are contributing to this predicted increase during the forecast period, such as the escalating demand for electricity, amplified spending in renewable energy, and swift industrialization alongside growth in the manufacturing industries. Moreover, the forecast period is expected to reveal a concentration on advancing new technological solutions, launching IoT (Internet of Things) connected devices and solutions, expanding production facilities, and emphasizing mergers and acquisitions.

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What Are the Drivers Transforming the Surge Arrester Market?
The surge in demand for electricity propels market growth. This increased need for electricity is a result of the burgeoning population and the escalating use of electrical and electronic devices, particularly in developing nations like China, India, Brazil, and some African countries. For example, the World Economic Forum, a non-governmental organization based in Switzerland, forecasted in August 2024 that the demand for electricity is anticipated to climb by about 4% in 2024, a significant leap from 2.5% in 2023. Moreover, resources for renewable electricity are projected to enhance enormously, shifting from 30% in 2023 to 35% in 2025. Therefore, this rising electricity requirement is fostering expansion in the surge arrester market.

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What Long-Term Trends Will Define the Future of the Surge Arrester Market?
Leading firms active in the surge arrester market are prioritizing the innovation of fresh technological solutions to solidify their market standing. A case in point is from November 2022, when Hitachi ABB Power Grids (now called Hitachi Energy) - a Swiss-based power transformers and substations maker, introduced a new digital tool specifically engineered to bolster grid resilience to wildfires. Their Wireless Spark Prevention Unit (SPU) Indicator aids utility companies in managing essential assets through facilitating remote surveillance, and improving maintenance and replacement strategies.

Which Segments in the Surge Arrester Market Offer the Most Profit Potential?
The surge arrester market covered in this report is segmented -

1) By Type: Polymeric, Porcelain
2) By Voltage Type: Low Voltage Surge Arresters, Medium Voltage Surge Arresters, High Voltage Surge Arresters
3) By End-User: Utilities, Industries, Transportation, Other End-Users
4) By Application: AIS (Air Insulated Switchgear), GIS (Gas Insulated Switchgear)
5) By Class: Distribution Class, Intermediate Class, Station Class

Subsegments:
1) By Polymeric: Silicone Rubber Surge Arresters, Ethylene Propylene Diene Monomer (EPDM) Surge Arresters
2) By Porcelain: Station Class Porcelain Surge Arresters, Distribution Class Porcelain Surge Arresters

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Which Firms Dominate the Surge Arrester Market by Market Share and Revenue in 2025?
Major companies operating in the surge arrester market include Siemens Energy, General Electric, Schneider Electric, Hubbell, Hitachi, CG Power And Industrial Solutions Ltd, Mitsubishi Electric, Legrand Sa, Eaton Corporation Plc, Meidensha, Valuepower Earthing Private Limited, Ideal Engineers, Pentagon Earthing & Lightning Arrester, Abcot Lighting Protection System Private Limited, Hangzhou Yongde Electric Appliances Co Ltd, Yueqing Sarah Electrical Technology Co Ltd, Wenzhou Yikun Electric Co. Ltd, Yueqing Wortai Electric Co. Ltd, Zhejiang Haivo Electrical Co. Ltd, Zhejiang Zhongneng Electrical Co. Ltd, Otowa Electric Co. Ltd, Ngk Insulators, Abb, Emerson Electric, Hakel Spol. S R., Vertiv, Te Connectivity, Lamco, Leviton Manufacturing, Raycap Corporation Sa, Interconexion Electrica, Enel X, Al Yamuna Densons, Dehn, Saudi Electricity Company

Which Regions Offer the Highest Growth Potential in the Surge Arrester Market?
North America was the largest region in the surge arresters market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surge arrester market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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