Surge Arresters Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Russia, UK, Germany, France, Italy, China, India, Japan, Indonesia, South Korea, South Africa, Brazil) Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
Report ID: GMI2544
Surge arresters market is predicted to witness robust growth on account of increasing demand for cost effective protection systems for electric equipment. Growing measures to mitigate power quality issues along with increasing investments in modernizing electric infrastructure will enhance the industry outlook. The U.S. DOE has adopted the grid modernization initiative to improve the T&D infrastructure with an investment of USD 177 billion from 2016 to 2025.
Rising demand for consumer appliances and electronics fueled with the increasing disposable income of individuals will drive the surge arresters market. Rise in power generation capacity along with increasing industrialization in emerging economies will further propel the business landscape. According to the World Bank, the real per capita income of people in China increased by about 20 times in duration from 1978 to 2016.
UK surge arresters market will witness significant growth on account of increasing investments in smart grids and energy systems. Increasing measures to reduce equipment failure due to frequent voltage fluctuations and efforts to improve network quality & reliability will further augment the industry growth. Growing investment in smart grid infrastructure along with implementation of regulations by the European Union has also instigated a favorable business scenario.
Increasing investments toward upgradation and capacity improvement of generation, transmission and distribution networks along with rising concerns over depleting energy resources will enhance the Asia Pacific surge arresters market. Government funding toward grid modernization has further provided potential gains to boost the industry growth.
Low voltage surge arresters market is predicted to witness growth owing to the wide applicability across residential establishments. Rising demand for electricity in household areas coupled with the expansion of distribution networks to reduce power surges will further drive the business outlook.
Expansion of power infrastructure in emerging economies along with replacement of existing networks for new installations in developed economies will fuel the surge arresters market. Development of technologically advanced systems to ensure efficient electrification infrastructure for avoiding unnecessary flashovers will further stimulate the industry outlook.
Polymeric surge arresters market is expected to witness strong growth on account of its versatility in design and ability to withstand high voltage requirements. Robust mechanical properties, reliable performance against environmental contamination and high pollution level resistance are some of the imperative parameters that will provide industry dominance to polymer arresters over their industry counterparts.
Eminent players in the surge arresters market comprises of ABB, Siemens, General Electric, Schneider Electric, Littlefuse, Emerson Electric, Legrand, Panamax and Toshiba among others. Technological advancements to develop cost-effective equipment have continued to be the focal point for the leading participants to secure a competitive position across the industry. Growth ventures including mergers and acquisitions along with overseas expansions have also been witnessed in the sector.
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