Surge Arrester Market Size to Reach $1.9 Billion by 2025

The global Surge
Arrester Market is projected to reach USD 1.9 billion by 2025 from an
estimated USD 1.5 billion in 2020, at a CAGR of 4.9% during the forecast
period. The rising demand for electricity in APAC and the growing focus of on
increasing renewable energy installed capacity are encouraging utilities to invest
in the electricity transmission and distribution networks, as well as in
electrification projects. These investments, along with investments to replace
aging electric infrastructure in North America and Europe are expected to
create the demand for surge arrester market.

The utilities segment is expected to
lead the surge arrester market

The surge arrester market, by end-user,
is segmented into utilities, industries, and transportation. Utilities are the
major end-user industry of surge arresters owing to the fact that the sheer
size of an electrical network operated by utilities is bigger compared to the
industrial and transportation electric infrastructure.

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The medium voltage segment is
expected to capture the major share of the Surge Arrester Market

The medium voltage surge arresters
segment is expected to be the largest segment by voltage. These surge arresters
find common application across end-users from the utilities, industrial, and
transportation sectors. The demand for medium-voltage surge arresters is on the
rise due to their use in grid-connected renewable power applications as the
utilities and plant operators install surge arresters near the point of
connection (PoC) to protect the network elements. Major drivers for the rising
demand for medium-voltage surge arresters are the growing number of
electrification projects in developing countries and the increasing focus on
grid modification in developed countries for better integration of renewable
energy sources.

Asia-Pacific is expected to be the largest
surge arrester market

Rising demand for surge arresters in
China, and India are expected to drive the Surge Arrester Market in Asia-Pacific.
Surging demand for electricity and the growing need to increase renewable power
generation capacity encourage utilities in these countries to invest in
transmission and distribution infrastructure. Increased investments in EHV and
UHV transmission projects in China and India spur the growth of the surge arrester market in APAC.

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Some of the prominent key players profiled in the Surge Arrester Market are Hitachi ABB (Switzerland), Siemens Energy (Germany), General Electric (US), Eaton (Ireland), and Hubbell (US).