24/06/2024
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Surge Arrester Market Size, Opportunities, Key Growth Factors, Revenue Analysis

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The surge arrester market has witnessed significant growth in recent years, driven by the increasing need for protection against voltage surges and transient overvoltages in electrical systems. Surge arresters, also known as lightning arresters, are devices designed to divert excessive electrical energy caused by lightning strikes or switching operations away from sensitive equipment, thereby preventing damage and ensuring the reliability of electrical systems.

The global surge arrester market size was USD 1.66 Billion in 2022 and is expected to register a steady revenue CAGR of 4.7% during the forecast period, according to latest analysis by Emergen Research. One of the key drivers of the surge arrester market is the growing demand for reliable power supply. With the increasing reliance on electronic devices and sensitive equipment in various industries, any disruption or damage caused by voltage surges can result in significant financial losses. Surge arresters provide an effective solution to protect against such surges, ensuring uninterrupted power supply and minimizing downtime.

Another driver of the market is the increasing investments in infrastructure development. As countries invest in the expansion and modernization of their power transmission and distribution networks, the need for surge protection devices becomes crucial. Surge arresters play a vital role in safeguarding critical infrastructure, such as power plants, substations, and industrial facilities, from voltage surges that can cause equipment failure and system breakdowns.

However, the surge arrester market also faces certain restraints. One of the major challenges is the high cost associated with surge protection devices. Surge arresters require advanced technologies and high-quality materials to effectively divert and dissipate electrical energy. The cost of these components, along with the installation and maintenance expenses, can be a barrier for some end-users, particularly in developing regions with limited financial resources.

Furthermore, the surge arrester market is influenced by the regulatory landscape and standards. Governments and regulatory bodies impose strict guidelines and standards to ensure the safety and reliability of electrical systems. Compliance with these regulations can pose challenges for manufacturers, as they need to invest in research and development to meet the required specifications. Additionally, the market is also affected by the availability of counterfeit surge arresters, which can compromise the effectiveness of surge protection and pose risks to electrical systems.

The report offers insightful information about the market dynamics of the Surge Arrester market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Surge Arrester market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Surge Arrester market. It puts examines drivers and restraints of the Surge Arrester market and analyzes their impact on the industry throughout the forecast period.

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 Key Players operating in the industry are:

Hitachi Energy Ltd., Emerson Electric Co., Siemens, Schneider Electric, General Electric, Eaton, Wilson Transformers, Mitsubishi Electric Corporation, Bharat Heavy Electricals Limited, CG Power & Industrial Solutions Ltd., HPL, Toshiba Corporation, and Hubbell

Radical Features of the Surge Arrester Market Report:

  • The report encompasses Surge Arrester market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
  • An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
  • Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
  • Supply chain analysis along with technological advancements offered in the report
  • The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Surge Arrester industry

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Segmentation:

  • Type Outlook (Revenue, USD Billion; 2019-2032)
    • Station Class Surge Arresters
    • Intermediate Class Surge Arresters
    • Distribution Class Surge Arresters
  • Technology Mode Outlook (Revenue, USD Billion; 2019-2032)
    • Metal-Oxide Varistors (MOV)
    • Silicon Avalanche Diodes (SAD)
    • Gas Discharge Tubes (GDT)
    • Others
  • Voltage Rating Outlook (Revenue, USD Billion; 2019-2032)
    • Low Voltage (Below 1 kV)
    • Medium Voltage (1 kV – 72.5 kV)
    • High Voltage (Above 72.5 kV)

Regional Analysis Covers:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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