Report Description

Surge arresters are used to protect electronic appliances and machineries from damages caused due to sudden voltage surges. The surge arresters are attached on the conductors just before it enters the electrical equipments. The market is expected to grow during the forecast period due to the increasing demand for electronic appliances in households across the globe.

The market of surge arresters in primarily being driven due to the changing lifestyle of the working population, and the increasing disposable income, which is creating a need for automated electronic products to reduce their household works. This in return is creating a demand for protecting these devices from voltage fluctuations. This need is fueling the growth for surge arresters market. Furthermore, the growing awareness for need of renewable energy sources is also acting as a driver for the market. Emerging nations such as India and China is witnessing the development of power plants which will be generating energy by using renewable sources of energy such as sun, water and wind. This factor is creating the need for surge arresters in order to protect the heavy machineries from damages caused due to voltage overflow and fluctuations. In addition, the commercial sector is also witnessing the growth in electronic devices in order to reduce the manpower.

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Scope

The market has been analyzed to reach USD 2.4 billion in 2021 growing at a CAGR of 5.1%. The increasing demand for electronic appliances in household is acting as a driver for the market. North America is leading the global surge arresters market in 2015 and is expected to dominate the market during the forecast period. Asia Pacific has been anticipated to be the fastest growing region during the forecast period

Key Players

The key players profiled in the surge arresters market include, Siemens AG, ABB Ltd, Emerson Electric, Eaton Corporation Plc, Schneider Electric S.E., Mitsubishi Electric Corporation, Raycap Corporation and Crompton Greaves among others.

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