Market Analysis
Surge Arrester Market is projected to exceed USD 2.85 billion by 2027, registering a CAGR of 4.26% during the forecast period, the market was valued at USD 1.75 billion in 2020., states the recent Market Research Future (MRFR) analysis. Surge arresters, simply put, are used for protecting machineries and appliances from damages resulting from sudden voltage surges. It is also popularly known as a surge protection device and transient voltage surge suppressor.
Various factors are propelling the global lightning arrestor market share. According to the recent MRFR report, such factors include growing demand for electrical appliances, boost in power generation, deployment of electrical equipment, replacement of existing infrastructure of power with that of new, and growing demand for power generation. Additional factors adding market growth include expanding smart grid network, growing investments in transmission & distribution facilities, developments in power infrastructure, growing industrialization, aging power infrastructure, equipment protection from failure due to frequent voltage spikes, working population’s changing preference, the developing renewable sector, and the need for digitalization and automation.
Get Free Sample PDF @ https://www.marketresearchfuture.com/sample_request/4298
On the contrary, counterfeiting by local players, increasing competition from the unorganized power sector, high installation cost, and the on-going COVID-19 impact are factors that may impede the global surge arrester market growth over the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global surge arrester market based on type, voltage, class, and application.
By type, the global surge arrester market is segmented into porcelain and polymeric. Of these, the polymeric type segment is predicted to lead the market over the forecast period.
By voltage, the global surge arrester market is segmented into high, medium, and low. Of these, the high voltage segment will dominate the market over the forecast period.
By class, the global surge arrester market is segmented into station, intermediate, and distribution. Of these, the distribution class segment will have a major share in the market over the forecast period.
By application, the global surge arrester market is segmented into residential, commercial, and industrial. Of these, the industrial application segment will command the largest share in the market over the forecast period.
Regional Analysis
Based on the region, the global surge arrester industry report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will lead the market over the forecast period. The presence of several surge arrester manufacturers, technological advances, growing security compliance standards, and rising investments towards capital additions by utilities are adding to the global surge arrester market growth in the region. The United States holds the utmost share in the market.
The global surge arrester market in Europe is predicted to hold the second-largest share over the forecast period. The growing need to cut down equipment failure due to frequent voltage spikes and aging electrical infrastructure are adding to the global surge arrester market growth in the region.
The global surge arrester market in the APAC region is predicted to grow at a fast pace over the forecast period. Economic growth in India and China, growing urbanization and industrialization, rising industrial activities, and increasing access to electricity are adding to the global surge arrester market growth over the forecast period.
The global surge arrester market in the RoW is predicted to have a sound growth over the forecast period.
Key Players
Leading contenders profiled in the global surge arrester market report include Raycap Corporation SA (U.S.), Leviton Manufacturing (U.S.), Lamco (India), TE Connectivity (Switzerland), Vertiv. (U.S.), HAKEL spol. S r. (Czech Republic), Emerson Electric (U.S.), Legrand S.A (France), Eaton (Republic of Ireland), ABB (Switzerland), NGK Insulators (Japan), CG Power (India), Mitsubishi Electric (Japan), Schneider Electric (France), Hubbell (U.S.), GE Oil & Gas (U.S.), and Siemens (Germany).
Browse Complete Report @ https://www.marketresearchfuture.com/reports/surge-arrester-market-4298
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Email: [email protected]`
