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Surge Arrester Market Trends

Report ID: GMI2544
Published Date: May 2023
Report Format: PDF

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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.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of surge arrester surpassed USD 1.7 billion in 2023 and is estimated to expand at 5.2% CAGR from 2024 to 2032, attributed to rising electricity demand from power and heavy industries, as well as commercial facilities.

The residential & commercial application segment witnessed an annual installation of over 6.5 million units in 2022 and will note installations over 15 million units in 2032, on account of growing focus on integrating extensive frequency distribution networks, coupled with escalating concerns regarding over-voltages.

Asia Pacific surge arrester industry is poised to attain 4.5% gains during 2023-2032, owing to soaring population resulting in growing reliable electricity demand, in consort with strong government support for T&D refurbishment projects.

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, and TDK Electronics AG.