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Industry segmentationThe global surge arrester market is segmented by type, voltage, application, class and region.
By type, the industry is classified into polymeric and porcelain,
By voltage, the market is classified into low, medium and high.
By class, the surge arrester market is further segmented into distribution, intermediate and station.
Based on applications, the global surge arrester market is segmented into industrial, commercial and residential.
By region, the industry is segmented into North America, Asia Pacific, Middle East, South America, and Africa.
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Surge Arrester Market - Overview
The global surge arrester market is expected to grow at 5.5% CAGR in the projected years. Globally, there is an increase in demand of power generation, expansion of smart grid network, increasing investment in transmission and distribution facilities, growing industrialization and development in power infrastructure. Global surge arrester market is mainly driven by the changing preferences of the working population, driving the need for automation and digitalization.
The factor that restrains the global surge arrester market is growing competition from unorganized power sector and cost of installation of arrester, especially in developing nations. However, having an edge over rivals and improvements are expected to help players deal with the situation. The main drivers of the market are increased demand for electrical appliances, deployment of electrical equipment’s, boost in power generation, and replacement of existing infrastructure of power with new one. North America accounts the highest share in the global surge arrester market followed by China, which is the fastest growing market. Technological advancements in the sector is another reason for growth in this market.
Key Players
The major key player in global surge arrester markets are Siemens (Germany), GE Oil & Gas (U.S.), Hubbell (U.S.), Schneider Electric (France), Mitsubishi Electric (Japan), CG Power (India), NGK Insulators (Japan), ABB (Switzerland), Eaton (Republic of Ireland), Legrand S.A (France), Emerson Electric (U.S.), HAKEL spol. S r. (Czech Republic), Vertiv. (U.S.), TE Connectivity (Switzerland), Lamco (India), leviton manufacturing (U.S.), Raycap Corporation SA (U.S.), etc.
Regional Outlook
Based on regions, North America and Asia Pacific together account for more than 15.0% share of the total in application-based surge arresters, globally, due to expressive infrastructure development in the power sector. Countries like China and India from Asia Pacific region have new projects to develop and still have potential to reach at the surge.
Countries such as China and India in the Asia Pacific region witness the developments of various power plants for the generation of energy by renewable sources such as tidal, wind, and solar. This reason is one of the main drivers of the surge arrester market in Asia Pacific with a CAGR of 5.1% during the forecast period.
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List Of Tables
Table 1 Global Surge Arrester Market: By Region, 2018-2023
Table 2 North America Surge Arrester Market: By Country, 2018-2023
Table 3 Europe Surge Arrester Market: By Country, 2018-2023
Table 4 Asia Pacific Surge Arrester Market: By Country, 2018-2023
Table 5 RoW Surge Arrester Market: By Country, 2018-2023
Table 6 Global Surge Arrester Market By Type: By Regions, 2018-2023
Table 7 North America Surge Arrester Market By Type: By Country, 2018-2023
Table 8 Europe Surge Arrester Market By Type: By Country, 2018-2023
Table 9 Asia Pacific Surge Arrester Market By Type: By Country, 2018-2023
Table 10 RoW Surge Arrester Market By Type: By Country, 2018-2023
Table 11 Global Surge Arrester Market, By Voltage By Regions, 2018-2023
Table 12 North America Surge Arrester Market, By Voltage, By Country, 2018-2023
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