Polymer Surge Arrester Market Analysis

Polymer Surge Arrester Market Analysis

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The medium voltage surge arresters accounted for more than 40% of the market share in 2023 and is set to register 5.5% CAGR through 2032, attributed to global trends in urbanization, industrialization, and expansive infrastructure projects, particularly prominent in developing nations. The escalating incorporation of renewable energy sources like solar and wind power into existing electrical grids underscores the necessity for these surge arresters to safeguard such systems against voltage irregularities. Moreover, the heightened demand for resilient distribution networks, driven by the proliferation of residential and commercial establishments, is poised to further bolster the adoption of polymer surge arresters.
 

The distribution segment valuation crossed USD 240 million and is projected to exceed USD 400 million by 2032. Moreover, the distribution class encompasses heavy-duty and normal-duty riser pole classifications, along with specialized variants like dead front elbow and riser pole systems, further enhancing their popularity in diverse industries by ensuring reliable protection for a variety of equipment. This popularity continues to drive the global penetration of these surge arrester systems.
 

The residential and commercial sectors over the years, saw an exponential rise in deployment of polymer based surge arrester, which is further anticipated to grow by 2032. The growth in demand for surge arresters in these establishments is fueled by the increasing integration of extensive frequency distribution networks and mounting concerns regarding over voltages. With rural-to-urban migration and the expansion of commercial sectors, there's a heightened rate of surge arrester installations in these areas. Globally, governments are revamping existing power grids to tackle frequent power outages caused by voltage spikes, lightning impulses, and internal system faults.
 

Asia Pacific polymer surge arrester market is poised to attain 4.5% CAGR between 2024 and 2032, owing to the rapid urbanization, infrastructural development, and expanding industrialization across countries like China, India, and Southeast Asian nations. The escalating demand for reliable electricity supply in both urban and rural areas, coupled with government initiatives to modernize and upgrade aging power infrastructure, fuels the surge arrester market. Moreover, the region's vulnerability to natural calamities like lightning strikes amplifies the necessity for effective surge protection systems, stimulating the adoption of polymer surge arresters across diverse sectors.