The surge arrester market has witnessed significant growth in recent years, driven by the increasing need for protection against voltage surges and transient overvoltages in electrical systems. Surge arresters, also known as lightning arresters, are devices designed to divert excessive electrical energy caused by lightning strikes or switching operations away from sensitive equipment, thereby preventing damage and ensuring the reliability of electrical systems.
The global surge arrester market size was USD 1.66 Billion in 2022 and is expected to register a steady revenue CAGR of 4.7% during the forecast period, according to latest analysis by Emergen Research. One of the key drivers of the surge arrester market is the growing demand for reliable power supply. With the increasing reliance on electronic devices and sensitive equipment in various industries, any disruption or damage caused by voltage surges can result in significant financial losses. Surge arresters provide an effective solution to protect against such surges, ensuring uninterrupted power supply and minimizing downtime.
Another driver of the market is the increasing investments in infrastructure development. As countries invest in the expansion and modernization of their power transmission and distribution networks, the need for surge protection devices becomes crucial. Surge arresters play a vital role in safeguarding critical infrastructure, such as power plants, substations, and industrial facilities, from voltage surges that can cause equipment failure and system breakdowns.
However, the surge arrester market also faces certain restraints. One of the major challenges is the high cost associated with surge protection devices. Surge arresters require advanced technologies and high-quality materials to effectively divert and dissipate electrical energy. The cost of these components, along with the installation and maintenance expenses, can be a barrier for some end-users, particularly in developing regions with limited financial resources.
Furthermore, the surge arrester market is influenced by the regulatory landscape and standards. Governments and regulatory bodies impose strict guidelines and standards to ensure the safety and reliability of electrical systems. Compliance with these regulations can pose challenges for manufacturers, as they need to invest in research and development to meet the required specifications. Additionally, the market is also affected by the availability of counterfeit surge arresters, which can compromise the effectiveness of surge protection and pose risks to electrical systems.
Furthermore, the report supplies an in-depth understanding and insight into the leading manufacturers and players with a brief overview of their business. This section deals with the latest business moves, product launches, strategic collaborations, technological advancements, and profitable business ventures. The report also includes revenue estimations and CAGR of the Surge Arrester market in the coming years. The global Surge Arrester market report includes a comprehensive analysis of the top players of the market and their market scope through advanced analytical tools. Tools such as Porter’s Five Forces Analysis, SWOT analysis, feasibility analysis, and investment return analysis are used to analyze their growth patterns and market scope for the forecast period of 2020-2027.
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The leading market contenders listed in the report are:
Hitachi Energy Ltd., Emerson Electric Co., Siemens, Schneider Electric, General Electric, Eaton, Wilson Transformers, Mitsubishi Electric Corporation, Bharat Heavy Electricals Limited, CG Power Industrial Solutions Ltd., HPL, Toshiba Corporation, and Hubbell
Key reasons to buy the Global Surge Arrester Market report:
- The latest report comprehensively studies the global Surge Arrester market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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Market Segmentations of the Surge Arrester Market
Type Outlook (Revenue, USD Billion; 2019-2032)
- Station Class Surge Arresters
- Intermediate Class Surge Arresters
- Distribution Class Surge Arresters
Technology Mode Outlook (Revenue, USD Billion; 2019-2032)
- Metal-Oxide Varistors (MOV)
- Silicon Avalanche Diodes (SAD)
- Gas Discharge Tubes (GDT)
- Others
Voltage Rating Outlook (Revenue, USD Billion; 2019-2032)
- Low Voltage (Below 1 kV)
- Medium Voltage (1 kV - 72.5 kV)
- High Voltage (Above 72.5 kV)
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Regional Outlook of the Surge Arrester Market
The global Surge Arrester market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East Africa. In this section, authors of the report have studied the presence of the global Surge Arrester market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
Key reasons to buy the Global Surge Arrester Market report:
- The latest report comprehensively studies the global Surge Arrester market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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