Surge Arrester Market Size & Share, by Type (Porcelain, Polymeric); Voltage (Medium, High, Extra-High); Class (Secondary, Distribution, Intermedia, Station); Application (AIS, GIS): End-user (Utilities, Industries, Transportation) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5165
  • Published Date: Aug 16, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Surge Arrester Market size is set to reach USD 3 Billion by the end of 2035, growing at a CAGR of 4% during the forecast period, i.e., 2023 – 2035. In the year 2022, the market industry of surge arrester was over USD 2 Billion. The growth of the market can be attributed to the growing demand for electricity.  As demand rises, the power loads on the grid increase, which leads to transient voltage spikes and fluctuations, which can be mitigated by surge arrestors, and save the grid from any malfunctioning. In comparison to the growth rate of 2022, the electric demand in the world is expected to increase by a faster rate of 3% between the years 2023-2025.

In addition to these, factors that are believed to fuel the market growth of surge arresters are the growing deployment of smart grids. Smart grids are even more complex than traditional lines. They incorporate advanced communications; this complexity increases the chances of electrical failures and other disturbances. Owing to this the need for surge arrestors increased to ensure continuous data flow.


Surge Arrester Market
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Surge Arrester Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Age Transmission Lines– All across the world, many parts of the transmission grid are over 100 years old. Over time, the insulation of transmission lines reduces significantly and they can easily be impacted by various factors, such as electrical stress, climatic conditions, and others. There to avert any damage, it is important to integrate surge arrestors in these lines.
  • Growing Initiatives for Electrification – Electrification is one of the major goals of the world, and the focus has been increased in order to reduce carbon emissions. Moreover, it is expected by 2030, that electrification will grow by twice the current state. Electrification involves the rising use of digital devices and higher reliance on sensitive electronics. These electronics are prone to sudden spikes and surge arrestors ensures to prevent costly equipment failure.
  • Focus on Boosting Renewables Energy– By 2026, renewables are to become the major sources of power, moreover, solar power will be responsible for the world’s half electricity output. Green energy is mainly based on environmental conditions which are susceptible to sudden changes, in such conditions, surge arrestors become highly important as a protectant.

Challenges

  • Transition to Wireless- The increasing shift to wireless technology, such as cloud-based solutions, wireless products, and others reducing the demand for protection provided by surge arrestors. Therefore, it will majorly affect the expansion of the market growth.
  • Low Awareness Regarding the Benefits of Surge Arrestors
  • Misconception Regarding its Functionality

Surge Arrester Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~4%

Base Year Market Size (2022)

~ USD 2 Billion

Forecast Year Market Size (2035)

~ USD 3 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Surge Arrester Segmentation

Type (Porcelain, Polymeric)

The polymeric segment is estimated to hold 70% share of the global surge arrester market in the year 2035. The growth of the segment can be attributed to the rising benefits of polymeric surge arrestors. For instance, they are light in weight and require no or little maintenance. They are rapidly gaining popularity owing to their increasing capacity to handle high energy and they are the best suitable and give the best performance in a tainted environment.

Class (Secondary, Distribution, Intermedia, Station)

Surge arrester market from the station segment is expected to garner a significant share of around 34% in the year 2035. The deployment of flexible distribution grids is expected to drive the growth of the segment. These grids offer better protection and minimized the energy waters or any watt-loss internally. Moreover, some features of the stationary class, such as the capability of handling high pressures, resistance to any contamination, and huge durability are expected to bring lucrative opportunities for the segment’s growth.

Our in-depth analysis of the global market includes the following segments:

   Type

  • Porcelain
  • Polymeric

   Voltage

  • Medium
  • High
  • Extra-High

   Class

  • Secondary
  • Distribution
  • Intermedia
  • Station

    Application

  • AIS
  • GIS

   End User

  • Utilities
  • Industries
  • Transportation

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Surge Arrester Industry- Regional Synopsis

APAC Market Forecast

The market share of surge arrester in Asia Pacific, is poised to be the largest with a share of about 35% by the end of 2035. The growth of the market can be attributed majorly to the rise in the establishment of renewable energy facilities. For instance, Tata Power has announced setting the country’s first solar plant exclusives for captivating the need of the residential sector. The project will begin by October 2023 and will provide green energy at 40% less than the current price. Furthermore, the development of emerging economies has boosted has led to unprecedented demand for surgery arrestors in the region.

North American Market Statistics

The North America surge arrester market is estimated to be the second largest, registering a share of about 28% by the end of 2035. The growth of the market can be attributed majorly to the rising investment plans by the government for the expansion of the smart grid. For instance, the US government started the Smart Grid Investment Grant (SGIG) programs focus on modernizing the electrical grid of the region, most of the transmission lines are over 40 years old, under this program, the government supported around 99 projects and covered the 50% of the total cost of the project.

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Surge Arrester Market Size
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Companies Dominating the Surge Arrester Landscape

top-features-companies
    • Lamco Industries Pvt Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Siemens AG
    • General Electric
    • Schneider Electric
    • CG Power & Industrial Solutions Ltd.
    • Legrand S.A
    • Emerson Electric Co.
    • CS Technologies s.r.o
    • Vertiv Group Corp.
    • TE Connectivity

In-the-news

In The News

  • General Electric has inked a supply agreement with GSI Helmholtzzentrum für Schwerionenforschung, Germany's top ion accelerator research center. Under this contract, GE will supply its LV8 platform that encompassed various products including power transformers, medium voltage switchgear, surge arrestors, and others.
  • Legrand SA has completed 7 acquisitions for the electrical utilities manufacturers. This also includes a leading Brazilian manufacturer of surge arrestors.

Author Credits:  Rushikesh, Richa Gupta


  • Report ID: 5165
  • Published Date: Aug 16, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing reliability on renewables, and higher investment in electrical grid are the major factors driving the market growth.

The market size of surge arrester is anticipated to attain a CAGR of approximately 4% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Siemens AG, General Electric, Schneider Electric, CG Power & Industrial Solutions Ltd, Legrand S.A, Emerson Electric Co., CS Technologies s.r.o, Vertiv Group Corp., TE Connectivity, and Lamco Industries Pvt Ltd.

The polymeric segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Surge Arrester Market Report Scope
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