Surge Arrester Market Size - By Voltage (Low, Medium, High), By Class (Distribution, Intermediate, Station), By Material (Polymer, Porcelain), By Application (Residential & Commercial, Industrial, Utility) & Forecast, 2024 – 2032

Surge Arrester Market Size

Surge Arrester Market surpassed USD 1.7 billion in 2023 and is anticipated to register 5.2% CAGR from 2024 to 2032.

The industry is expected to experience growth due to the rising electricity demand from power and heavy industries, as well as commercial facilities. The rising population has resulted in a surge in electricity requirements, prompting utilities to expand their generation capacities and install power protection equipment to ensure a steady and reliable flow of electricity. The aging power infrastructure has led to an increase in transformer and substation failures, compelling authorities in various countries to undertake upgrades and improvements to the electrical systems.

COVID-19 Impact

Covid 19 pandemic posed various challenges to the surge arrester market, hampering its growth across 2020. The pandemic led to disruptions in global supply chains due to lockdown measures, travel restrictions, and factory closures. These disruptions affected the manufacturing and distribution of surge protectors, leading to delays in production and delivery. As a result, some customers experienced shortages or delays in obtaining surge protectors. The slowdown in economic activities and temporary closures of businesses during the pandemic affected the demand for surge protectors in commercial installations. With reduced operations or shutdowns, there was a decrease in the installation of new surge protection systems in commercial buildings, offices, and retail spaces, which further impacted the industry development.

However, As the global economy recovers from the pandemic and business activities resume, the demand for surge protectors is expected to bounce back. The increasing adoption of electronic devices, the growing importance of data protection, and the need for reliable power supply are likely to drive the surge protector market's growth in the post-pandemic era.

Surge Arrester Industry Market Trends

Surge arrester market is anticipated to witness a substantial growth owing the growing electricity demand globally. The growing reliance on electronic devices, sensitive equipment, and digital infrastructure necessitates the need for a stable and uninterrupted power supply, thus boosting the demand for the product. Increasing awareness about power quality issues has further augmented the recognition of the importance of surge protection. Industries, commercial buildings, and residential users are becoming more conscious of the potential risks associated with voltage surges and are adopting surge arresters as a preventive measure.

In addition, continuous technological advancements in the design and manufacturing of surge protection devices including introduction of gapless metal oxide (ZnO) surge arresters and others offer improved performance, enhanced protection, and longer lifespan compared to traditional gapped arresters, which in turn is propelling the industry expansion worldwide.
 

Surge Arrester Market Analysis

The medium voltage surge arrester market held the major market share of over 40% in 2022 and is projected to witness 5% growth till 2032. The product ranging from 1kV to 36kV are will see noteworthy growth by 2032 owing to the ongoing urbanization, industrialization, and infrastructure development projects globally, specifically in developing nations. The growing adoption of renewable energy sources such as solar and wind power has resulted in the integration of these energy sources into existing electrical grids. Furthermore, rising penetration of residential and commercial establishments have stimulated a demand for effective and reliable distribution networks and will complement the product penetration by 2032. The market for low voltage surge arrester is likely to cross USD 780.5 million by 2032 owing to growing electricity demand globally.

The distribution surge arrester market was assessed at over USD 450 million in 2022 and is expected to cross USD 800 million by 2032. The Distribution class is specifically designed to safeguard electrical systems that have voltage ratings between 1 kV and 33 kV. Additionally, the distribution class includes both heavy-duty and normal-duty riser pole classifications, as well as specialized application arresters such as dead front elbow and riser pole variants. These systems have gained significant popularity in various industries due to their reliable protection of diverse equipment, therefore driving the product penetration around the globe.

The residential and commercial sectors reached an annual installation of over 6.5 million units in 2022 and is will note installation of over 15 million units in 2032. The growing focus on integrating extensive frequency distribution networks, coupled with the escalating concerns regarding over voltages, will foster the demand for surge arresters in residential and commercial settings. As the rural population continues to migrate to urban areas and the commercial sector expands, there is a higher installation rate of these systems in these sectors.

Governments worldwide are increasingly refurbishing existing power grids to address the frequent occurrence of power outages caused by lightning impulses, voltage spikes, and internal system faults. For example, in Australia, approximately 97% of blackouts are attributed to network faults and incidents, resulting in disrupted operations at commercial facilities and therefore stimulating surge arresters market demand across the country.

Asia Pacific surge arrester market is poised to attain 4.5% gains between 2023 and 2032 due to soaring population growth resulting in growing reliable electricity demand. The regional market will experience significant growth due to strong government support for transmission and distribution (T&D) refurbishment projects, as well as ongoing investments in the industry and utility-based electrification systems. The region's increasing emphasis on reducing transmission and distribution losses and the trend of expanding overhead electric lines have driven manufacturers to prioritize the development of energy-efficient and dependable products. Policymakers are particularly focused on improving access to electricity in remote areas to address the existing energy access challenges, which contributes to the overall industry progression.

Surge Arrester Market Share

Prominent players in the surge arrester market are placing significant emphasis on scaling up their manufacturing capabilities and making substantial investments in research and development. Their primary objective is to develop cutting-edge protection and control technologies. To keep pace with the increasing demand for seamless product integration, the market players are also expanding their manufacturing facilities. These strategic initiatives have become crucial in shaping the competitive landscape of the industry. Notable companies operating in the business landscape are:

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

Surge Arrester Industry News:

• In July 2021, General Electric announced the receival of a supply contract from GSI Helmholtzzentrum für Schwerionenforschung, a research center that operates accelerator facility for ions across Darmstadt, Germany. The contract will allow the company to deliver its LV8 platform to the research facility, which will be implemented with various components including medium voltage switchgear, surge arresters, power transformer and others. The new contract will aid GE in gaining a bigger customer base across Germany and thus gain a bigger market share in Europe.
   
• In January 2019, Eaton reached a definitive agreement to acquire Ulusoy Elektrik, a manufacturer of switchgear in Turkey. This acquisition will strengthen the company’s electrical equipment portfolio and enhance its ability to provide medium-voltage solutions that span a complete range of requirements. Furthermore, the acquisition provides additional high capability & competitive manufacturing base and access to the medium voltage market across Africa, Europe, and the Middle East.
   

This 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 Voltage

• Low
• Medium
• High

Market, By Class

• Distribution
• Intermediate
• Station

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