Market Definition
A surge arrester, also known as a lightning arrester or surge protector, is a crucial electrical device designed to safeguard sensitive electronic equipment and systems from voltage surges or transient overvoltages. These surges can result from lightning strikes, power grid fluctuations, or other abrupt changes in electrical conditions. The surge arrester acts as a protective barrier by diverting excess voltage away from the connected equipment, preventing damage and ensuring the reliable operation of electrical systems. Essentially, it serves as a defense mechanism to absorb and dissipate the energy associated with sudden voltage spikes, maintaining the integrity and longevity of electronic devices in various applications, including residential, commercial, and industrial settings.
Market Outlook
The surge arrester market size was USD 1.7 billion in 2023 and is anticipated to reach USD 2.8 billion in 2033, growing at a rate of 5.0% from 2024 to 2033.
The surge arrester market size in terms of volume accounted for XX thousand units in 2023 and is anticipated to reach XX thousand units in 2033, growing at a rate of XX% from 2024 to 2033.
The escalating demand for reliable and efficient electrical infrastructure to safeguard sensitive electronic equipment and ensure uninterrupted power supply. As industries continue to digitize and incorporate sophisticated electronic devices, the susceptibility of electrical systems to voltage fluctuations and transient overvoltages rises. Surge arresters play a crucial role in mitigating these risks by swiftly diverting excess voltage away from equipment, preventing potential damage. This growing awareness of the importance of surge protection, coupled with increasing investments in infrastructure development, is fueling the surge arrester market’s expansion as businesses and consumers prioritize the safeguarding of their electrical assets.
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Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
On the basis of material, the Surge Arrester Market is segmented into polymer, and porcelain. Among these, in 2023, the porcelain segment in the surge arrester market has witnessed significant growth owing to its superior material properties. Porcelain, renowned for its excellent electrical insulation, mechanical strength, and durability, has become a preferred choice for surge arrester applications. This surge in demand can be attributed to the material’s ability to withstand high electrical stress and harsh environmental conditions, ensuring reliable and long-lasting performance. As industries and utilities increasingly prioritize robust and resilient solutions for surge protection, the porcelain segment continues to experience a surge in market share, reflecting the growing recognition of its effectiveness in safeguarding electrical systems against transient.
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Major Players
The surge arrester market is characterized by a high degree of consolidation, with a limited number of key players dominating the market. Major contributors include TE Connectivity, ABB Ltd. CG Power & Industrial Solutions Ltd., CHINT Group, DEHN SE, Eaton, Ensto, Elpro, General Electric Company, Hubbell, INAEL, S.A., Izoelektro, Raycap Corporation SA , Siemens Energy, Surgetek, Schneider Electric SE, Leviton Manufacturing Company, Inc., TDK Electronics AG, and Mitsubishi Electric Corporation (Mitsubishi Electric), among others.
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Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
• Market Size in 2023 – $1.7 bn
• Market Size in 2033 – $2.8 bn
• CAGR % – 5.0%
• Historic Period – 2017-2022
• Forecast Period – 2024-2033
• Base Year – 2023
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