Global Surge Arresters Market to Reach $2.6 Billion by 2030
The global market for Surge Arresters estimated at US$1.8 Billion in the year 2023, is expected to reach US$2.6 Billion by 2030, growing at a CAGR of 5.4% over the period 2023-2030. Polymeric Surge Arresters, one of the segments analyzed in the report, is expected to record 5.8% CAGR and reach US$1.7 Billion by the end of the analysis period. Growth in the Porcelain Surge Arresters segment is estimated at 4.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $476 Million, While China is Forecast to Grow at 8.5% CAGR
The Surge Arresters market in the U.S. is estimated at US$476 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$606.2 Million by the year 2030 trailing a CAGR of 8.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 4.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
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