Surge Arrester Market by Voltage (High Voltage, Low Voltage, Medium Voltage), Type (Polymeric, Porcelain), Class, End User, Application - Global Forecast 2024-2030

Surge Arrester Market by Voltage (High Voltage, Low Voltage, Medium Voltage), Type (Polymeric, Porcelain), Class, End User, Application - Global Forecast 2024-2030

The Surge Arrester Market size was estimated at USD 1.18 billion in 2023 and expected to reach USD 1.24 billion in 2024, at a CAGR 5.16% to reach USD 1.68 billion by 2030.

Surge arresters are essential components in electrical systems that play a critical role in protecting infrastructure from voltage spikes. These devices are engineered to safely divert excessive voltage surges away from sensitive equipment, thereby preventing damage and ensuring operational continuity. Surge arresters are widely utilized across various industries, including telecommunications, power generation, and distribution systems. Their functionality hinges on their ability to conduct the surge current to the earth while blocking the normal operating current, effectively preventing the buildup of excess electrical pressure without disrupting the system's normal operations. The increasing demand for electrical energy, the expansion of power distribution networks, and the rising emphasis on electrical infrastructure safety have contributed to the growing need for surge arresters. Additionally, regulatory policies focusing on energy efficiency and safety standards and the growing adoption of renewable energy sources contribute to the market expansion. However, technical limitations, the possibility of aging and degradation, and the inability of certain surge arresters to handle high voltages can raise concerns about the efficiency and reliability of surge arresters. Additionally, the vulnerability of power systems to cyber-attacks with the increasing smart grid deployments also poses a significant challenge. However, key players are exploring advancements in smart surge protection solutions integrating predictive analytics and IoT for real-time monitoring and blockchain technology to safeguard cybersecurity. The development of high-performance materials for surge arresters that ensure a longer lifespan and improved reliability under extreme conditions can also support the growth of surge arresters. Exploring cost-effective manufacturing processes and eco-friendly materials can address the challenges of high investment costs and environmental concerns.

Regional Insights

The Americas region, particularly the United States and Canada, witnessed a steady demand for surge arresters, driven by robust industrial, commercial, and residential infrastructure. Enhanced grid modernization efforts and the replacement of old electrical infrastructure are significant drivers contributing to the growth of surge arresters. Customer purchasing behavior leans towards high-quality and technologically advanced products, underlining the importance of innovation and reliability. The European Union (EU) region for surge arresters is characterized by stringent regulatory standards and a high level of environmental awareness. This has led to an increased demand for eco-friendly and energy-efficient surge protection solutions. EU's widespread efforts towards renewable energy sources further bolster the adoption of surge arresters. The APAC region, particularly China, Japan, and India, presents a crucial market for surge arresters due to rapid industrialization, urbanization, and expansion of power distribution networks. Government support for the deployment of smart grids and incentives to support the integration of renewable energy sources in energy infrastructure has consequently created a favorable landscape for the deployment of surge arresters.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Surge Arrester Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Rising Electricity Consumption and Increasing Renewable Energy Installed Capacity
    • Public and Private Initiatives to Replace Aging Electric Infrastructure
    • Expanding Growth of Data Centers and Colocation Facilities
    • Market Restraints
      • High Cost of Installation and Maintenance of Surge Arrester
      • Market Opportunities
        • Growing Investments in Cross-Border Power Transmission Projects
        • Rising Potential across Expanding Microgrid Structures
        • Market Challenges
          • Concerns Related to Frequent Failures of Surge Arresters
          • Market Segmentation Analysis
            • Type: Ongoing advancements to improve the performance of polymeric surge arresters
            • End User: Expanding usage of surge arresters in industries in recent years to safeguard crucial electrical appliances and equipment
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Surge Arrester Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Surge Arrester Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • DOE announces USD 42 million to update US power grid
              
              The Department of Energy (DOE) has allocated USD 42 million towards 15 innovative projects dispersed across 11 states, with the aim of enhancing the grid's reliability, resilience, and adaptability through the advent of advanced semiconductor technologies. Sandia National Laboratories, based in Albuquerque, New Mexico, has been granted USD 2,560,000 to pioneer a solid-state surge arrester. This development is designed to shield the grid against extremely rapid electromagnetic pulses, which pose a serious risk to the grid's consistent operation and efficacy.
              
              Pepperl+Fuchs Introduces Innovative Two-Part Surge Protection System M-LB-4000 for Enhanced Process Automation
              
              Pepperl+Fuchs launched the M-LB-4000, an innovative two-part surge protection system designed to elevate process automation safety. This new system seamlessly combines modularity, loop disconnect functions, and advanced fault monitoring to offer high protection for signal lines up to Safety Integrity Level 3 (SIL 3), in compliance with IEC/EN 61508 standards. By effectively countering transients from lightning or electrical switching, the M-LB-4000 ensures elevated plant availability, marking a significant advancement in safeguarding industrial automation processes.
              
              Semtech Releases New Surge Protection Product to Safeguard Electronics
              
              Semtech Corporation, a player in the development of high-performance semiconductors, IoT systems, and Cloud connectivity solutions, recently unveiled the RClamp0822B, an enhancement to their Transient Voltage Suppressors (TVS) lineup. This new product is part of the acclaimed RClamp series, designed specifically to provide protection for high-speed data interfaces across a wide range of environments, including industrial settings, data centers, and telecommunications networks. The RClamp0822B, a 2-line, 8V surge protection device, is housed in the compact, industry-standard SC-75 package, offering electrostatic discharge (ESD) and surge protection capabilities, thereby ensuring safety for electronic circuits against voltage transients.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Surge Arrester Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Surge Arrester Market, highlighting leading vendors and their innovative profiles. These include ABB Limited, CG Power and Industrial Solutions Ltd., Cisco Systems, Inc., DEHN SE, Eaton Corporation PLC, Elektrolites (Power) Pvt. Ltd., Elpro International Ltd., Emerson Electric Co., Ensto Oy, General Electric Company, HAKEL spol. s r.o., Hitachi Energy Ltd., HM Cragg, Honeywell International Inc., Huawei Technologies Co., Ltd., Hubbell Incorporated, Legrand S.A., Leviton Manufacturing Co., Inc., Meidensha Corporation, Mitsubishi Corporation, Oblum Electrical Industries (P) Ltd., Schneider Electric SE, Siemens AG, STM Electronics, TE Connectivity Ltd., Toshiba Corporation, and Zhejiang Haivo Electrical Co., Ltd..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Surge Arrester Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Voltage
              • High Voltage
              • Low Voltage
              • Medium Voltage
              • Type
                • Polymeric
                • Porcelain
                • Class
                  • Distribution Class
                  • Intermediate Class
                  • Station Class
                  • End User
                    • Industries
                    • Transportation
                    • Utilities
                    • Application
                      • AIS
                      • GIS
                      • Region
                        • Americas
                          • Argentina
                          • Brazil
                          • Canada
                          • Mexico
                          • United States
                            • California
                            • Florida
                            • Illinois
                            • New York
                            • Ohio
                            • Pennsylvania
                            • Texas
                            • Asia-Pacific
                              • Australia
                              • China
                              • India
                              • Indonesia
                              • Japan
                              • Malaysia
                              • Philippines
                              • Singapore
                              • South Korea
                              • Taiwan
                              • Thailand
                              • Vietnam
                              • Europe, Middle East & Africa
                                • Denmark
                                • Egypt
                                • Finland
                                • France
                                • Germany
                                • Israel
                                • Italy
                                • Netherlands
                                • Nigeria
                                • Norway
                                • Poland
                                • Qatar
                                • Russia
                                • Saudi Arabia
                                • South Africa
                                • Spain
                                • Sweden
                                • Switzerland
                                • Turkey
                                • United Arab Emirates
                                • United Kingdom
                                
                                
                                Please Note: PDF & Excel + Online Access - 1 Year