Surge Arrester Market Analysis, Trends and 2023 Forecasts for Manufacturers


Posted August 3, 2018 by shravand123

Surge Arrester Market research report categorizes by Type (Polymeric, Porcelain), Voltage (Medium, High, Extra-High), Class (Distribution, Intermediate, Station), End-User (Utilities, Industries, Transportation), and Geography.

 
The global Surge Arrester Market is estimated to be USD 1.56 Billion in 2018 and is expected to grow at a CAGR of 5.11%, during the forecast period, to reach USD 2.01 Billion by 2023. Investments in smart grids and energy systems, the need to reduce equipment failure caused by frequent voltage spikes, and aging power infrastructure are driving the Surge Arrester Market across the world.

In this report, the Surge Arrester Market has been segmented, by type, into polymeric and porcelain. The polymeric surge arrester segment dominated the market due to the versatility of design, which leads to a wide range of arresters with respect to mechanical properties, short-circuit behaviour, and costs.

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The Surge Arrester Market has been further segmented, by class, into distribution, intermediate, station class. The distribution class segment dominates the Surge Arrester Market due to the growth in smart grid infrastructure and an increase in industrialization in developing countries. The distribution class market is expected to grow at the highest CAGR, during the forecast period, in Asia Pacific and South America, with growth centered on India, China, Brazil, and Argentina.

Based on voltage rating, the market has been segmented into medium, high, and extra-high voltage. The extra-high voltage segment is expected to dominate the Surge Arrester Market during the forecast period. A rise in the demand for electricity in residential areas and expansion of electrical distribution networks to reduce power outages are the key factors driving the segment during the forecast period.

The Surge Arrester Market has been analyzed with respect to 5 regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Europe dominated the Surge Arrester Market. The market in Europe is expected to hold the largest share of the global Surge Arrester Market during the forecast period. Aging electrical infrastructure and the need to reduce equipment failure caused by frequent voltage spikes are driving the Surge Arrester Market in Europe.

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In this industry, most players are global multinational companies. Some of the leading players in the Surge Arrester Market include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Hubbell (US), Schneider (France), CG Power (India), GE (US), Mitsubishi Electric (Japan), TE Connectivity (Switzerland), CHINT Group (China), and Lamco (India).

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Issued By Marketsandmarkets
Country United States
Categories Business , Energy , Engineering
Tags surge arrester , surge arrester industry , surge arrester market
Last Updated August 3, 2018