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Surge Arresters Market

Surge Arresters Market (Voltage Type – Low Voltage Surge Arresters, Medium Voltage Surge Arresters, and High Voltage Surge Arresters; Application – Industrial, Commercial, and Household) - Global Industry Analysis, Trend, Size, Share, and Forecast 2019 - 2027

The escalating demand for consumer electronics and appliances, triggered by the increasing disposable incomes and the frequent changes in the lifestyles of individuals across the world has fuelled the demand for surge arresters significantly. As these arresters are highly effective in adjusting and normalizing power consumption, they provide efficient protection to electronic appliances against the damages from sudden voltage surges, ensuring their and their surrounding’s safety. 

Going forward, the demand for surge arresters is likely to be influenced by the rise in power generation in the coming years. The increasing concerns over the depleting energy resources are projected to boost the production of electricity from non-renewable resources, creating opportunities for the application of these arresters in the near future. Apart from this, the growing industrialization in emerging economies is also projected to stimulate the demand for these arresters over the next few years.

In 2018, the global surge arresters market was worth US$2.07 Bn. expanding at a CAGR of 5.10% during the period from 2019 to 2027, it is estimated to reach US$ 3.25 Bn by the end of 2027.

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Asia Pacific to Report Fastest Growth Rate

The global market for surge arresters spreads across Europe, Asia Pacific, North America, and the Rest of the World. North America has been leading the demand for surge arresters over the recent past. The presence of a large pool of surge arrester manufacturers has boosted the growth of this regional market significantly. In 2018, the region emerged as the key contributor to the overall market. North America, being an early adopter of this technology, is likely to remain the leading regional market until 2027.

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Europe and Asia Pacific closely followed North America with a share of 27% and 23%, respectively, in 2018. Both the regions are also expected to register strong rise; however, it is Asia Pacific, which will report the fastest CAGR of 6.30% from 2019 to 2027 due to the growing industrialization in India and China.

Industrial Application to Remain Leading Consumer of Surge Arresters

Surge arresters are widely utilized in a number of commercial, industrial, and household applications. Among these, the industrial application segment emerged as the leading consumer of these arresters, owing to the rising industrialization across the world. In 2018, the segment accounted for a share of nearly 33% in the overall revenue generated in this market.

Analysts expect the consumption of surge arresters in this segment to register a significant rise during the period from 2019 to 2027. Other application segments are also projected to experience a rise in the application of these arresters over the next few years.

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The global surge arresters market demonstrates a highly concentrated competitive landscape with top five participants, namely,

  • ABB Ltd.
  • Schneider Electric
  • Eaton Corp.
  • General Electric 
  • Emerson Electric,

accounting for a share of more than 60% in 2018. Other prominent manufacturers of surge arresters across the world are

  • Siemens AG
  • Mitsubishi Electric Corp.
  • Crompton Greaves
  • Legrand S.A.
  • Raycap Corp.

Growing Disposable Income and Extensive Need for Electrification to Add Extra Stars of Growth to the Surge Arresters Market

The need for electrification has escalated considerably over the years. The growing need for electrification across various regions and the rising concerns for the protection of power lines from lightning will bring tremendous growth opportunities for the surge arrester market during the assessment period of 2019-2027.

  • The heightening disposable income and the growing demand for consumer electronics and appliances will invite tremendous growth opportunities for the surge arrester market across the forecast period. Surge arresters are devices used for protecting electrical equipment against high voltage. The arresters divert the voltage rather than absorbing them. Thus, all these factors bode well for the growth of the surge arrester market.
  • The large-scale utilization of surge arresters in transportation and industries will bring extensive growth opportunities through the assessment period. Urbanization has increased rapidly over the years. Industrialization across many countries has also gathered considerable traction. All these factors bring immense growth prospects for the surge arrester market.
  • Government bodies of numerous countries are investing heavily in electrification initiatives to provide electricity to all its citizens. These aspects are increasing the demand for surge arresters, eventually improving the growth rate. Densely populated countries like China and India are improving their electrification prospects extensively. Hence, the surge arrester market will observe promising growth from these regions.
  • The novel coronavirus outbreak has wreaked havoc around the globe. It has disrupted the growth projections across many businesses and sectors. The surge arrester market is no exception. Numerous countries were forced to go into strict lockdowns. These lockdowns led to the complete shutdown of manufacturing units and factories, eventually ruining the growth prospects.
  • Nevertheless, after a brief period, the governments of various countries announced relaxations in lockdowns to bring the economy on track. These relaxations proved to be a boon for the surge arrester market to revive lost growth.

By Voltage types

  • Low voltage surge arresters
  • Medium Voltage surge arresters
  • High voltage surge arresters

By Application

  • Industrial applications
  • Commercial applications
  • Household applications

By geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa
Surge Arresters Market

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Frequently Asked Questions

What is the anticipated CAGR of the Surge Arresters Market in the forecast period?

Surge Arresters Market to expand at a CAGR of 5.10% during the forecast period 2027

Which region has largest share in Surge Arresters Market?

North America holds highest share during 2019-2027

Who are the key players in the global Surge Arresters Market? 

Key players operating in the global Surge Arresters market are ABB Ltd., Eaton Corp., Schneider Electric, Emerson Electric, and General Electric

What is the total market worth of Surge Arresters Market?

Surge Arresters Market is expected to rise to US$ 3.25 by 2027

What is the study period of Surge Arresters Market?

The Surge Arresters Market is studied from 2019-2027

Chapter 1 Preface

    1.1. Research description

    1.2. Research scope

    1.3. Research methodology

Chapter 2 Executive Summary

Chapter 3 Market overview

    3.1. Introduction

    3.2. Key trend analysis

    3.3. Market drivers

    3.4. Market Drivers

        3.4.1. Supply Side

            3.4.1.1. The need for reducing high replacement costs for electrical system failures.

        3.4.2. Demand Side

            3.4.2.1. Increasing demand for electronic appliances for comfortable living

            3.4.2.2. Global rising need for power generation

        3.4.3. Impact Analysis of Drivers

    3.5. Market Restraints

        3.5.1. Additional cost of installation

    3.6. Market Opportunities

        3.6.1. Increasing demand for renewable energy in emerging economies

    3.7. Market attractiveness, by application, 2027

    3.8. Market share of key players

Chapter 4 Global surge arresters Market Analysis, by Voltage Types2018-2027 (USD Million)

    4.1. Overview

    4.2. Low voltage surge arresters

        4.2.1. Low voltage surge arrestersmarket size and forecast, 2018 – 2027 (USD Million)

    4.3. Medium voltage surge arresters

        4.3.1. Medium voltage surge arresters market size and forecast, 2018 – 2027 (USD Million)

    4.4. High voltage surge arresters

        4.4.1. High voltage surge arresters market size and forecast, 2018 – 2027 (USD Million)

Chapter 5 Global Surge arresters Market Analysis, by Applications 2018-2027 (USD Million)

    5.1. Overview

    5.2. IndustrialApplications

        5.2.1. Industrial applications market size and forecast, 2018 – 2027 (USDMillion)

    5.3. Commercial Applications

        5.3.1. Commercial applications market size and forecast, 2018 – 2027 (USD Million)

    5.4. Household applications

        5.4.1. Household applicationsmarket size and forecast, 2018 – 2027 (USD Million)

Chapter 6 Global Surge arresters Market Analysis by Geography 2018-2027 (USD Million) Overview

    6.1. North America Surge arresters Market

        6.1.1. North America surge arresters market size and forecast, 2018–2027 (USD million)

        6.1.2. North America surge arresters market size and forecast, by country, 2018–2027 (USD million)

            6.1.2.1. U.S. surge arresters market size and forecast, 2018–2027 (USD million)

            6.1.2.2. Canada surge arresters market size and forecast, 2018–2027 (USD million)

    6.2. Europe Surge arresters Market

        6.2.1. Surge arresters market size and forecast in Europe, 2018–2027 (USD million)

        6.2.2. Europe surge arresters market size and forecast, by country, 2018–2027 (USD million)

            6.2.2.1. U.K. surge arresters market size and forecast, 2018–2027 (USD million)

            6.2.2.2. Germany surge arresters market size and forecast, 2018–2027 (USD million)

            6.2.2.3. France surge arresters market size and forecast, 2018–2027 (USD million)

            6.2.2.4. Rest of Europe surge arresters market size and forecast, 2018–2027 (USD million)

    6.3. Asia Pacific Surge arresters Market

        6.3.1. Surge arresters market size and forecast in Asia Pacific, 2018–2027 (USD million)

        6.3.2. Asia Pacific surge arresters market size and forecast, by Countries 2018–2027 (USD million)

            6.3.2.1. China surge arresters market size and forecast, 2018–2027 (USD million)

            6.3.2.2. Japan surge arresters market size and forecast, 2018–2027 (USD million)

            6.3.2.3. Rest of Asia Pacific surge arresters market size and forecast, 2018–2027 (USD million)

    6.4. Rest of the World (RoW) Surge arresters Market

        6.4.1. RoW Surge arresters Market Size and Forecast, 2018–2027 (USD million)

        6.4.2. Rest of the world surge arresters market size and forecast, by regions 2018–2027 (USD million)

            6.4.2.1. Latin America surge arresters market size and forecast, 2018–2027 (USD million)

            6.4.2.2. Middle East surge arresters market size and forecast, 2018–2027 (USD million)

            6.4.2.3. Africa surge arresters market size and forecast, 2018–2027 (USD million)

Chapter 7 Company Profiles

    7.1. Siemens AG 

    7.2. ABB Ltd 

    7.3. Eaton Corporation Plc 

    7.4. Emerson Electric 

    7.5. Schneider Electric S.E. 

    7.6. Mitsubishi Electric Corporation 

    7.7. General Electric 

    7.8. Crompton Greaves 

    7.9. Raycap Corporation S.A. 

    7.10. Legrand S.A.

List of Tables

TABLE 1 Global Surge Arresters Market Snapshot

TABLE 2 North America surge arresters market size and forecast, by votlage type, 2018–2027 (USD million)

TABLE 3 North America surge arresters market and forecast, by application, 2018–2027 (USD million)

TABLE 4 Europe surge arresters market size and forecast, by voltage type, 2018–2027 (USD million)

TABLE 5 Europe surge arresters market and forecast, by application, 2018–2027 (USD million)

TABLE 6 Asia Pacific surge arresters market size and forecast, by voltage type, 2018–2027 (USD million)

TABLE 7 Asia Pacificsurge arresters market and forecast, by application, 2018–2027 (USD million)

TABLE 8 Rest of the world surge arresters market size and forecast, by voltage type, 2018–2027 (USD million)

TABLE 9 Rest of the world surge arresters market and forecast, by application, 2018–2027 (USD million)

List of Figures

FIG. 1 Market segmentation of Surge Arresters Market

FIG. 2 Market share of key players, 2018 (%)

FIG. 3 Market attractiveness analysis, by application, 2018

FIG. 4 Global surge arresters market, by voltage types, 2018 vs. 2027 (Value %)

FIG. 5 Global low voltage surge arresters market, 2018–2027 (USD million)

FIG. 6 Global medium voltage surge arresters market, 2018–2027 (USD million)

FIG. 7 Global high voltage surge arresters market, 2018–2027 (USD million)

FIG. 8 Global surge arresters market, by application, 2018 vs. 2027 (Value %)

FIG. 9 Global industrial applications market, 2018–2027 (USD million)

FIG. 10 Global commercial applications market, 2018–2027 (USD million)

FIG. 11 Global household applications market size and forecast, 2018–2027 (USD million)

FIG. 12 Global Surge arresters revenue share, by region, 2018–2027 (USD million)

FIG. 13 North America surge arresters market, 2018–2027 (USD million)

FIG. 14 U.S. surge arresters market, 2018–2027 (USD million)

FIG. 15 Canada surge arresters, 2018–2027 (USD million)

FIG. 16 Europe surge arresters market, 2018–2027 (USD million)

FIG. 17 U.K. surge arresters market, 2018–2027 (USD million)

FIG. 18 Germany surge arresters market, 2018–2027 (USD million)

FIG. 19 France surge arresters market, 2018–2027 (USD million)

FIG. 20 Rest of Europe surge arresters market, 2018–2027 (USD million)

FIG. 21 Asia Pacific surge arresters market, 2018–2027 (USD million)

FIG. 22 China surge arresters market, 2018–2027 (USD million)

FIG. 23 Japan surge arresters market, 2018–2027 (USD million)

FIG. 24 Rest of Asia Pacific surge arresters market, 2018–2027 (USD million)

FIG. 25 RoW surge arresters market, 2018–2027 (USD million)

FIG. 26 Latin America surge arresters market, 2018–2027 (USD million)

FIG. 27 Middle East surge arresters market, 2018–2027 (USD million)

FIG. 28 Africa surge arresters market, 2018–2027 (USD million)

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