Market Overview

Global +$2 Billion Surge Arrester Market by Type, Voltage, Class, End-User, and Region - Forecast to 2023 - ResearchAndMarkets.com

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The "Surge
Arrester Market by Type (Polymeric, Porcelain), Voltage (Medium, High,
Extra-High), Class (Distribution, Intermediate, Station), End-User
(Utilities, Industries, Transportation), and Region - Global Forecast to
2023"
report has been added to ResearchAndMarkets.com's
offering.

The global surge arrester market is estimated to be USD 1.56 Billion in
2018 and is expected to grow at a CAGR of 5.11%, during the forecast
period, to reach USD 2.01 Billion by 2023. Investments in smart grids
and energy systems, the need to reduce equipment failure caused by
frequent voltage spikes, and aging power infrastructure are driving the
surge arrester market across the world.

In this report, the surge arrester market has been segmented, by type,
into polymeric and porcelain. The polymeric surge arrester segment
dominated the market due to the versatility of design, which leads to a
wide range of arresters with respect to mechanical properties,
short-circuit behavior, and costs.

The surge arrester market has been further segmented, by class, into
distribution, intermediate, station class. The distribution class
segment dominates the surge arrester market due to the growth in smart
grid infrastructure and an increase in industrialization in developing
countries. The distribution class market is expected to grow at the
highest CAGR, during the forecast period, in Asia Pacific and South
America, with growth centered on India, China, Brazil, and Argentina.

Based on voltage rating, the market has been segmented into medium,
high, and extra-high voltage. The extra-high voltage segment is expected
to dominate the surge arrester market during the forecast period. A rise
in the demand for electricity in residential areas and expansion of
electrical distribution networks to reduce power outages are the key
factors driving the segment during the forecast period.

Market Dynamics

Drivers

  • Investments in Smart Grids & Energy Systems
  • Need to Reduce Equipment Failure Caused by Frequent Voltage Spikes
  • Aging Power Infrastructure

Restraints

  • Increasing Competition From the Unorganized Sector

Opportunities

  • Increasing Investments in Transmission & Distribution Infrastructure
  • Growing Cross-Border Electricity Trade

Challenges

  • Delays in Grid Expansion Projects

Companies Featured

  • ABB
  • Eaton
  • Siemens
  • GE
  • Hubbell
  • TE Connectivity
  • Schneider Electric
  • Lamco
  • Mitsubishi Electric
  • CG Power
  • Elpro
  • NGK Insulators

For more information about this report visit https://www.researchandmarkets.com/research/jvpc4j/global_2?w=4

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