Global Surge Arrester Market Overview
Surge arrester is an equipment that shields electrical power system from harmful impacts of
switching effects and lightning. It is often known as surge protection device as it safeguards the
device in transferring of power and in distribution system. According to the reports published by
Market Research Future, the Lightning Arrester Market is likely to develop at 5.5% CAGR over
the forecast period. On a global scale, there is a rise in demand for power generation owing to
increasing outlay in transmission, growth of smart grid network, and distribution networks,
growing industrialization and growth in power infrastructure.
The key drivers of the market are rising demand for electrical appliances, increase in power
generation, replacement of existing infrastructure of power with new available alternatives, along
with deployment of electrical equipment. North America represents the largest share in the
worldwide surge arrester market. China follows North America being the fastest growing market.
Technological progressions in the sector is another significant reason for growth in this market.
The factor that restricts the global surge arrester market is the propelling rivalry from unorganized
power sector and installation cost of the arrester, specifically in emerging economies. However,
competitive edge over rivals and continuous upgradations are likely to aid players in dealing with
the situation. In terms of technology, the surge arrester market is growing each day owing to the
presence of companies such as Siemens. They work exhaustively on application-based frameworks
so that the resultant would be effective, efficient, and prominent. The requirement for surge arrester
in locomotive sector is witnessing a sharp growth as well.
Surge Arrester Industry Segmentation
The global surge arrester market has been segmented based on applications, voltage, class, and
type.
Based on applications, the global surge arrester market is segmented into commercial, residential,
and industrial markets.
Based on voltage, the market has been segmented into low, medium, and high.
Based on class, the market has been segmented into intermediate, distribution, and station.
Based on type, the market has been segmented into polymeric and porcelain.
Regional Analysis
Global surge arrester market mostly driven by the varying preferences of the working population,
propelling the requirement for digitalization and automation. Additionally, the renewable sector is
also playing the role of a stimulant for this market. Emerging economies such as China and India
within the Asia Pacific market are likely to witness the growths of different power plants for the
generation of energy through renewable sources such as wind, solar, and tidal. This is one of the
key factors fuelling the surge arrester market in Asia Pacific. It is expected to grow at a rapid pace
of CAGR 5.1% over the forecast period. Asia Pacific and North America together account for over
15.0% share of the total in application-based surge arresters, owing to increasing infrastructure
development in the power sector.
Key Players