Surge Arrester Market

Surge Arrester Market Synopsis

The Global Surge Arrester Market was valued at USD 1.8 billion in 2023 and is expected to grow from USD 1.9 billion in 2024 to USD 3.0 billion by 2033, reflecting a CAGR of 5.1% over the forecast period.

The market for surge arrester is expanding as more people require their equipment to be well protected from lightning and switching surges. They are important for protecting power systems in homes, businesses and factories. Modernizing ageing power grids, increasing use of renewable solar and wind and fast urbanization and industry growth are major reasons for the market’s growth in Asia-Pacific and elsewhere. A growing trend is to use polymeric surge arresters because they provide better performance, plus more and more smart surge arresters with monitoring tools are being put into service to assist in maintenance.

Surge Arrester Market Driver Analysis

Increasing Power Infrastructure Development

The advancement and modernization of electricity grids mean the need for effective surge protection devices is rising. Since power systems are being made stronger and adopt new technologies, it is necessary to protect important parts from voltage surges to avoid issues, assure personal safety and hold the system in place. For this reason, there is more demand for powerful surge arresters to defend our infrastructure.

Surge Arrester Market Restraint Analysis

Complex Installation and Maintenance

Installation problems and the regular maintenance needed often restrict the use of surge arresters. A lot of skill and careful planning by experts is needed to set up the devices for the correct operation in a complicated electrical system. We also need to regularly check surge arresters and replace them when their skills to protect the facility start to decrease. This may make surge protection more complicated and expensive for non-technical users, especially in less experienced areas which can reduce the speed of market growth despite the valuable benefits it offers.

Surge Arrester Market Opportunity Analysis

Increasing Electrification of Remote Areas

Surge protection is very important in expanding electricity grids, especially in remote or new places where the infrastructure is more at risk from spikes and various environmental factors. The use of trustworthy surge arresters in these locations ensures equipment is safeguarded against lightning and power issues, so there are fewer power supply problems and downtime becomes rare. For this reason, specific niche markets appear that offer reliable and durable surge protection systems made to match the unique power grids found in rural or newly built areas.

Surge Arrester Market Trend Analysis

Shift Toward Polymeric Surge Arresters

Polymeric surge arresters outperform porcelain models in durability, are lighter and have better performance. Because they include advanced materials, vehicles are better able to handle moisture, pollution and mechanical bumps which ensures they last longer and work dependably. Also, because they are lighter, installing them is easier and there are less handling risks, making them valuable in modern utilities.

Surge Arrester Market Segment Analysis:

The Surge Arrester Market is segmented on the basis of Class, Processing Method, and Voltage Level.

By Class

o   Intermediate Class

o   Station Class

o   Distribution Class

By Voltage Level

o   High

o   Medium

o   Low

By Application

o   Residential

o   Industrial

o   Commercial

o   Utility

By Region

o   North America (U.S., Canada, Mexico)

o   Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

o   Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

o   Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)

o   Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

o   South America (Brazil, Argentina, Rest of SA)

By Class, Station Class Segment is Expected to Dominate the Market During the Forecast Period

Of the classes discussed in this research study, the station class segment is expected to account for the largest market share of surge arrester market in the forecast period. Station class surge arresters exist to guard important electrical equipment found in substations and power plants, where chances of voltage surges are very high. The strong structure and good energy absorption ability of shock absorbers make them important for power systems which is why they are used in most of them.

By Voltage Level, the High Segment is Expected to Held the Largest Share

By voltage level, the high-voltage segment is expected to hold the largest share of the surge arrester market. Power systems that work with high-voltages are likely to suffer from overvoltage because lightning strikes and faults often boost the voltage above the safe level. Such bursts in voltage might seriously harm costly equipment such as transformers, circuit breakers and switchgear, possibly bring about many power outages and lead to big losses due to downtime. Since failure risks are serious, grid operators and utilities focus on using the best surge arresters that protect the system from excess voltages and keep it safe and reliable. Another point is that high-voltage surge arresters use advanced materials and tough housing to resist strong energy impacts and difficult conditions.

By Application, the Utility Segment is Expected to Held the Largest Share

By application, the utility segment is expected to hold the largest share of the surge arrester market. Electricity providers build wide networks for generating, sending and distributing power and these networks must be equipped with strong protection against surges to keep the supply safe. The importance of these systems and the danger of sudden high voltage mean that utilities use a lot of surge arresters which in turn increases the demand in this area.

Surge Arrester Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period 

The Asia Pacific region is expected to dominate the surge arrester market over the forecast period, driven by rapid industrialization, urbanization, and significant investments in power infrastructure across countries like China, India, and Southeast Asia. With more people using electricity and efforts to update power grids and supply electricity to rural areas, the demand for dependable surge protection has grown. Furthermore, the region’s intent on using more renewable energy increases demand for today’s advanced surge arresters. In addition to these reasons and encouragement from the government, more people in Asia Pacific are learning about electrical safety, making the region set to top the surge arrester market in the coming years.

Recent Development

·        In March 2024, Solar Power Systems, a prominent U.S.-based provider of clean energy product analysis and recommendations, launched a comprehensive database of solar installers featuring reviews and insights. This initiative is designed to help users find the most suitable solar company based on their location, enabling more informed and confident decisions for their solar energy installations.

Active Key Players in the Surge Arrester Market

o   ABB AG

o   Siemens AG

o   GE

o   Eaton Corporation

o   Schneider Electric SE

o   Hubbell Incorporated

o   Furse Surge Protection

o   CIRCUTOR

o   Megger Group Limited

o   Ingeteam

o   Other Key Players

Global Surge Arrester Market Scope: