Global Surge Arrester Market size and share is currently valued at USD 1.59 billion in 2022 and is anticipated to generate an estimated revenue of USD 2.59 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.0% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2023 – 2032
Market Overview:
The surge arrester market has become a critical component of electrical systems worldwide, playing a vital role in protecting equipment and infrastructure from overvoltage caused by lightning strikes, switching surges, and other transient events. Surge arresters are widely used in residential, commercial, and industrial applications to safeguard electrical equipment, ensuring operational reliability and safety. With the growing demand for uninterrupted power supply and the expansion of energy infrastructure, the surge arrester market is experiencing robust growth.
Key Trends:
The surge arrester market is evolving with several key trends shaping its growth and development:
- Advancements in Surge Arrester Technology: Manufacturers are focusing on developing compact, lightweight, and high-performance surge arresters with improved durability and resistance to environmental conditions.
- Adoption of Polymer-Based Surge Arresters: Polymer-based surge arresters are gaining popularity due to their lightweight design, high mechanical strength, and superior insulation properties compared to traditional porcelain-based arresters.
- Integration with Smart Monitoring Systems: Modern surge arresters are increasingly being equipped with IoT-enabled sensors and monitoring systems, providing real-time data on performance and enabling predictive maintenance.
- Focus on Sustainable Materials: The growing emphasis on sustainability has led to the development of environmentally friendly surge arresters made from recyclable materials.
- Expansion into Emerging Markets: Developing countries are witnessing significant investments in energy infrastructure, creating opportunities for surge arrester manufacturers to cater to the growing demand in these regions.
Major Key Players:
- CG Power and Industrial Solutions Ltd.
- Eaton Corporation
- General Electric Company
- Hakel
- Hitachi ABB
- Hubbell Power Systems
- INAEL Electrical Systems
- Legrand
- Mitsubishi Electric
- Schneider Electric
- Siemens Energy
- TE Connectivity Ltd.
- Toshiba Corporation
- Tripp Lite
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/surge-arrester-market
Recent Developments:
- In November 2021, ICM launched a comprehensive range of innovative surge protective devices designed specifically for HVAC/R, appliance, electrical, and pool and spa applications. The product line includes a single-phase option alongside four configurations of 3-phase surge protective devices (SPDs), catering to diverse customer needs.
- In December 2022, DITEK unveiled a new digital training platform in collaboration with SecurityCEU.com and The CMOOR Group. This partnership aims to develop interactive and online training courses, combining expertise from all three organizations to provide advanced learning opportunities for professionals.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
Surge Arrester Market, Type Outlook (Revenue – USD Billion, 2019-2032)
- Porcelain
- Polymeric
Surge Arrester Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- GIS
- AIS
Surge Arrester Market, Class Outlook (Revenue – USD Billion, 2019-2032)
- Station Class
- Intermediate Class
- Distribution Class
Surge Arrester Market, End-User Outlook (Revenue – USD Billion, 2019-2032)
- Utilities
- Industries
- Transportation
The future of the surge arrester market looks promising, with ongoing advancements in technology and increasing demand for reliable power infrastructure. The rising adoption of renewable energy systems, coupled with the expansion of smart grids, will drive the need for advanced surge protection solutions. Additionally, the integration of surge arresters with digital monitoring technologies will enhance their functionality and enable utilities to optimize grid performance.