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Surge Arrester Global Market Report 2022

Surge Arrester Global Market Report 2022

  • September 2022
  • 175 pages
  • ID: 6320101
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the surge arrester market are Hitachi ABB, Siemens Energy, General Electric, Eaton, Hubbell, CG Power, Schneider Electric, Meidensha, Mitsubishi Electric, Toshiba, Legrand, Lamco, Raycap Corporation SA, Leviton Manufacturing, NGK Insulators, Crompton Greaves, Littlefuse Inc. and CHINT Group.

The global surge arresters market is expected to grow from $1.86 billion in 2021 to $1.95 billion in 2022 at a compound annual growth rate (CAGR) of 4.91%. The surge arresters market is expected to reach $2.51 billion in 2026 at a compound annual growth rate (CAGR) of 6.50%.

The surge arresters market consists of sales of surge arresters devices by entities (organizations, sole traders, and partnerships) that are used for protecting the device by limiting the voltage on equipment by bypassing or discharging surge current. It is also used for the protection of electric equipment and power system installations by directly diverting the overvoltages to the insulation or ground.

The main type of surge arresters are polymeric and porcelain.The polymeric surge arresters are light weighted, hydrophobic in nature which helps in the protection of electrical equipment, in both indoor and outdoor systems.

It is a gapless zinc oxide surge arrester that are designed to protect your overhead distribution network.Due to their optimal mechanical strength, it can be also used in harsh environment conditions.

The class includes in surge arresters are distribution class, intermediate class and station class with voltage type such as low voltage surge arresters, medium voltage surge arresters and high voltage surge arresters.The have application in AIS (air insulated substation) and GIS (gas insulated substation).

The end-user includes utilities, industries and transportation.

North America was the largest region in the surge arresters market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the surge arresters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The surge arresters market research report is one of a series of new reports that provides surge arresters market statistics, including surge arresters industry global market size, regional shares, competitors with a surge arresters market share, detailed surge arresters market segments, market trends and opportunities, and any further data you may need to thrive in the surge arresters industry. This surge arresters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing demand for continuous and reliable power supply is expected to significantly contribute to the growth of the surge arrester market.The increase in demand for electrical appliances and increasing investments in T&D (transmission and distribution) networks are helping the surge arrester market to grow.

According to IEA World Energy Outlook 2020, nearly $1.03 trillion was invested globally in the electric network which is necessary to reliably meet the towering electricity demands. Therefore, the rising industrialization across the world and increasing need for power will contribute to the growth of the surge arrester market.

Technological advancements are a key trend gaining popularity surge arrester market.Many companies operating in surge arresters are developing new products or new technologies for strengthening the demand for the surge arrester market.

For instance, in April 2020, Hitachi ABB Power Grids, a Swiss-based company manufacturing and marketing of electronics and electrical equipment semiconductors, consumer products, and power and industrial equipment introduced utilities in South America to supply air-insulated switchgear (AIS), gas-insulated switchgear (GIS), instrument transformers, circuit breakers, instrument transformers, shunt reactors, and hybrid modules.

In July 2020, Hitachi Ltd, a Japan-based electronics and electrical company, agreed on making a strategic investment through the acquisition of ABB Power Grids.This acquisition will combine high-voltage transmission with distributed energy assets and digital control systems and create a new business aimed at tackling the renewable and distributed energy frontiers of the power industry.

ABB Power Grids is a Swiss-based company, supplying power and automation products, transmission and distribution enabling a stronger, smarter and greener grid.

The countries covered in the surge arresters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

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