The global demand for Surge Arresters Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Surge arresters are a safety feature. Surge arresters can be developed to protect electronic equipment against electrical harm. Surge arrester dissipates the extra voltage to the ground instead of passing through the electronic device, allowing the average voltage to flow. These are essential components required to protect electrical equipment in transmission and distribution networks. They are installed in substations, transmission lines, and other parts of electrical networks.
Market Dynamics
The significant factors that impact the growth of the surge arresters market include emerging demand for surge arresters in the transmission and distribution sector and an increase in the use of surge arresters to protect electrical equipment in the transmission and distribution segment. Therefore, an increase in the electrification in non-electric sectors helps provide the demand for the surge arrester market. A substation is also built-in grid-connected renewable energy facilities to facilitate grid connection, and surge arrestors are used in such substations. As a result, surge arrester manufacturers will benefit from increasing the global share of renewable energy power generation. However, the increase in the sales of surge arresters in the gray market has led to the downgrade of brands' names of market leaders because they sell cheap and poor-quality products under the title. Thus, an increase in local players' sales in the gray market may restrain the demand for the surge arrestors market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of surge arresters. The growth and trends of surge arresters industry provide a holistic approach to this study.
Market Segmentation
This section of the surge arresters market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
By End User
- Utilities
- Industries
- Transportation
By Application
By Voltage
- Medium Voltage
- High Voltage
- Extra High Voltage
By Class
- Distribution Class
- Intermediate Class
- Station Class
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Surge Arresters market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Surge Arresters Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the surge arresters market include Hitachi ABB (Switzerland), Siemens Energy (Germany), General Electric (US), Eaton (Ireland), Hubbell (US), CG Power (India), Schneider Electric (France), Meidensha (Japan), Mitsubishi Electric (Japan), and Toshiba (Japan). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.