Low Voltage Surge Arrester Market Size - By Material (Polymer, Porcelain), By Application (Residential & Commercial, Industrial, Utility), Industry Analysis Report, Growth Drivers & Forecast, 2024 – 2032

Low Voltage Surge Arrester Market Size

Low Voltage Surge Arrester Market size exceeded USD 451.3 million in 2023 and is anticipated to grow at 6.1% CAGR from 2024 to 2032. Increasing demand for electricity across various sectors has been a major driver for the rise in deployment of surge arresters over the previous years.
 

Industries, commercial facilities, and residential areas require a stable and uninterrupted power supply to meet their operational needs, which propel the demand for surge arresters positively. As the demand for electricity continues to rise due to population growth, urbanization, and industrialization, there is a greater risk of voltage surges and electrical disturbances. Low voltage surge arresters play a crucial role in protecting electrical equipment and systems from such voltage spikes and ensuring the safety and reliability of electrical infrastructure, which in turn drives the industry growth.

COVID-19 Impact

The low voltage surge arrester market faced numerous challenges during the Covid-19 pandemic, causing hindrances to its growth throughout 2020. The global supply chains were disrupted as a result of lockdown measures, travel restrictions, and factory closures. These disruptions had an adverse impact on the manufacturing and distribution of surge protectors, leading to production and delivery delays. Consequently, customers experienced shortages or delays in acquiring surge protectors, which impacted the product demand growth adversely. Moreover, the slowdown in economic activities and temporary closures of businesses during the pandemic reduced the demand for surge protectors in commercial installations. With limited operations or shutdowns, the installation of new surge protection systems in commercial buildings, offices, and retail spaces declined, further affecting business development.
 

Low Voltage Surge Arrester Market Trends

The growing application of these devices in distribution transformers, low voltage switchgears, electricity service entrance locations, and various residential and commercial establishments is expected to drive the demand for such products. Furthermore, the adoption of low voltage surge arresters in primary and secondary distribution channels, coupled with significant investments in distribution infrastructure, will fuel the low voltage surge arrester market demand.
 

Low Voltage Surge Arrester Market Analysis

The polymer-based surge arresters industry is poised to attain 6.5% gains during 2023 to 2032. Polymer surge arresters are advanced systems consisting of a rubber exterior and metal oxide varistor discs bound together by a strength member. The inclusion of a rubber housing in the polymer design significantly enhances hydrophobicity and equipment protection. These surge arresters offer outstanding mechanical resistance, ease of handling during transportation and installation, space-saving benefits, and reduced weight compared to alternative options available. Polymer surge arresters are increasingly becoming the preferred choice over traditional porcelain systems, owing to their superior performance and suitability for high voltage applications.
 

The residential and commercial sectors reached USD 350 million in 2022 and is will garner USD 680 million revenues in 2032. The increasing emphasis on incorporating comprehensive frequency distribution networks, along with rising concerns related to overvoltages, is set to boost the low voltage surge arrester market growth in residential and commercial environments. With a growing urbanization trend and expansion in the commercial sector, there is a higher rate of surge arrester installations globally. Governments across all regions are actively renovating existing power grids to tackle the frequent occurrence of power outages resulting from lightning impulses, voltage spikes, and internal system faults.
 

In addition, rising population coupled increasing deployment of electrical appliances and equipment in these residential & commercial establishments will drive the need for reliable instruments to protect the devices during power surges, thus boosting the market penetration worldwide.
 

Asia Pacific low voltage surge arrester market is estimated to observe 5% growth rate between 2023 and 2032 on account of the gradual rise in electricity demand, due to the substantial rise in population over the last decade. Growing emphasis on improving the quality and reliability of power systems in the region further poses as a major market driver. Furthermore, the strict regulatory standards and electrical safety norms in the region also contribute to the rise in product deployment. Governments and regulatory authorities require the installation of surge protection devices to comply with safety regulations and protect electrical infrastructure, which in turn enhances the business landscape in the regional countries.
 

Low Voltage Surge Arrester Market Share

Major low voltage surge arrester manufacturers are boosting their production statistics to gain a bigger customer base around the globe. These companies are engaging in collaboration with raw material and component manufacturers to further gain a competitive edge in the industry. Players are also involved in acquisition of small provincial players to increase their presence in world economies and further augment their expertise in the industry. Key players include

• TE Connectivity
• ABB
• Surgetek
• General Electric
• Eaton, Hubbell
• Izoelektro
• INAEL S.A.
• CHINT Group
• Siemens Energy
• DEHN SE
• Ensto
• CG Power & Industrial Solutions Ltd.
• Elpro
• TDK Electronics AG.
   

Surge Arrester Industry News:

• In July 2021, General Electric (GE) has recently secured a supply contract from GSI Helmholtzzentrum für Schwerionenforschung, a prominent research center operating an ion accelerator facility in Darmstadt, Germany. Under the contract, GE will provide its LV8 platform to the research facility, incorporating a range of components such as medium voltage switchgear, power transformers, surge arresters, and more. This agreement presents an opportunity for GE to expand its customer base in Germany, ultimately leading to an increased market share in Europe.
   
• In February 2019, Eaton announced to integrate equipment & expert services and intelligent automation & control solutions. This strategy will allow the company to drive improvements in productivity by modernizing the electric grid. The combined solutions will help utilities to address challenges related to the supply of reliable power. The strategy will further enable the company to reinforce its position as a provider of critical electric power solutions.
   

This low voltage surge arrester market research report includes an in-depth coverage of the industry with estimates & forecast in terms of ‘000 Units & USD Million from 2019 to 2032, for the following segments:

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Market, By Material

• Polymer
• Porcelain

Market, By Application

• Residential & Commercial
• Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
• Latin America
  • Brazil
  • Argentina