Surge Arrester Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

  • Report ID: ME_00123365
  • Format: Electronic (PDF)
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  • Number of Pages: 250
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Market Snapshot

CAGR:7.17
2023
2032

Source: Market Expertz

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Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 7.17
Energy & Power-companies
Energy & Power-Snapshot

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Report Overview

Surge Arrester Market Analysis By Application (Industrial, Commercial, Residential), By Type (Station Class, Intermediate Class, Distribution Class), and By Region Forecast to 2032:

The Surge Arrester Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is influenced by several key factors, including the increasing demand for reliable power distribution systems, advancements in surge arrester technology, and the growing need for surge protection in various applications. A surge arrester is a protective device designed to divert excess voltage and current away from sensitive electrical equipment, preventing damage due to voltage surges and transients.

Surge Arrester Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Surge Arrester Market is the need for reliable power distribution systems. With the increasing dependency on electronic devices and equipment across industrial, commercial, and residential sectors, the risk of damage due to voltage surges and transients has grown significantly. Surge arresters play a crucial role in safeguarding sensitive equipment and ensuring uninterrupted power supply.

Advancements in surge arrester technology, including the development of station-class and intermediate-class surge arresters, are driving market growth. These advanced surge arresters offer enhanced protection capabilities and a longer operational lifespan, meeting the evolving needs of modern electrical systems.

Trends:

An emerging trend in the Surge Arrester Market is the adoption of surge protection devices in residential applications. As homeowners invest in electronic appliances and home automation systems, the need for surge protection at the residential level is increasing. This trend is particularly relevant in regions prone to lightning strikes and voltage fluctuations.

Additionally, the integration of surge arresters in smart grids and renewable energy systems is positively impacting market growth. Surge arresters play a critical role in protecting sensitive grid infrastructure and renewable energy installations from voltage disturbances.

Restraints:

One of the key challenges hindering the growth of the Surge Arrester Market is the lack of awareness among end-users regarding surge protection. Many individuals and businesses underestimate the potential damage caused by voltage surges and may not invest in surge protection devices until they experience a costly electrical failure.

Furthermore, the surge arrester market faces competition from alternative technologies and protective devices, such as uninterruptible power supplies (UPS) and transient voltage suppressors (TVS). Understanding and communicating the advantages of surge arresters compared to these alternatives is essential for market expansion.

Surge Arrester Market Segmentation By Application:

The industrial sector is anticipated to be the primary application for surge arresters during the forecast period. Industries rely on a wide range of electrical equipment and machinery, making surge protection crucial to prevent costly downtime and equipment damage.

Commercial applications, including office buildings, data centers, and retail establishments, represent another significant market segment. Surge arresters are essential in safeguarding critical electronic systems in these settings.

Surge arresters are increasingly being adopted in residential applications, especially in regions prone to lightning strikes and power fluctuations. Protecting home electronics and appliances from voltage surges is a growing concern among homeowners.

Surge Arrester Market Segmentation By Type:

Station-class surge arresters are expected to drive market growth significantly. These surge arresters are designed for high-voltage substations and offer robust protection against severe voltage surges.

Intermediate-class surge arresters provide versatile protection and find applications in a wide range of electrical systems, making them a popular choice among end-users.

Distribution-class surge arresters are designed for low and medium voltage distribution networks and are essential for ensuring reliable power distribution.

Regional Overview:


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North America is poised to be a key contributor to the global Surge Arrester Market, accounting for approximately 35% of the market's growth during the forecast period. The region's aging electrical infrastructure and the need for reliable surge protection solutions drive the demand for surge arresters.

Europe is another prominent region in the market, with a growing focus on grid modernization and renewable energy integration. Surge arresters play a vital role in safeguarding smart grid infrastructure and renewable energy installations.

Surge Arrester Market Customer Landscape:

The Surge Arrester Market report encompasses the customer adoption lifecycle, ranging from early adopters to mainstream users. It delves into adoption rates across different regions based on the prevalence of electrical disturbances and includes key purchase criteria related to surge arrester reliability, performance, and cost-effectiveness.

Major Surge Arrester Market Companies:

Companies in the surge arrester market are employing diverse strategies such as research and development, partnerships, mergers, acquisitions, and product innovation to strengthen their market presence.

Example companies include:

  1. ABB Ltd.: ABB offers a comprehensive range of surge arresters for various applications, including utility substations, industrial facilities, and residential installations.
  2. Siemens AG: Siemens provides surge arrester solutions designed to protect critical infrastructure and electrical systems, ensuring reliable power distribution.
  3. Eaton Corporation: Eaton offers surge protection devices for residential, commercial, and industrial applications, with a focus on durability and performance.

The competitive landscape analysis in the report provides insights into 20 key market players, including:

  • Schneider Electric SE
  • Raycap Corporation S.A.
  • Hubbell Incorporated
  • Littelfuse, Inc.
  • TE Connectivity Ltd.
  • Mitsubishi Electric Corporation
  • Crompton Greaves Consumer Electricals Limited
  • Leviton Manufacturing Co., Inc.
  • Toshiba Corporation
  • General Electric Company

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on product offerings, market presence, and technological innovation.

Segment Overview:

The Surge Arrester Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Million, 2019 - 2032):
    • Industrial
    • Commercial
    • Residential
  • Type Outlook (USD Million, 2019 - 2032):
    • Station Class
    • Intermediate Class
    • Distribution Class
  • Geography Outlook (USD Million, 2019 - 2032):
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa
      • United Arab Emirates
      • South Africa
      • Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Surge Arrester MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Surge Arrester MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Surge Arrester Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Power Of Suppliers

    4.5.2. Power Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. Surge Arrester MARKET BY type SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Polymeric

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Porcelain

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Surge Arrester MARKET BY class INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Distribution

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Intermediate

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 Station

    6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Surge Arrester MARKET REGIONAL OUTLOOK

7.1. Surge Arrester Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.2. North America Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Surge Arrester Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Surge Arrester Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Surge Arrester Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Surge Arrester Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Surge Arrester Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 ABB (Switzerland)

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2 Siemens (Germany)

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3 Eaton (Ireland)

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4 Hubbell (US)

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5 Schneider (France)

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6 CG Power (India)

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7 GE (US)

   9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8 Mitsubishi Electric (Japan)

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9 TE Connectivity (Switzerland)

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiativesn

9.10 CHINT Group (China)

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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