By 2032, Surge Arrester Market Expected $2.59 billion, CAGR 5.0%

Surge Arrester Market Size Worth $2.59 Billion By 2032 | CAGR: 5.0%


The global surge arrester market size is expected to reach USD 2.59 billion by 2032, according to a new study by Polaris Market Research. The report “Surge Arrester Market Share, Size, Trends, Industry Analysis Report, By Type (Porcelain, Polymeric); By Class; By Application; By End-User; By Region; Segment Forecast, 2024 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Various government organizations, including energy departments, have made substantial investments in grid modernization in recent years in order to upgrade their national grid, and proliferation among governments for launching favorable initiatives to enhance electrical power supply are key factors fostering global market growth. In addition, continuous expansion and upgradation of T&D networks and the emergence of surge arresters as essential components for the protection of electrical equipment in distribution and transmission networks are likely to boost product sales and generate huge growth opportunities for the market. For instance, in June 2023, Littelfuse announced the launch of its new NEMA-style Surge Protective Device series, which is designed to safeguard equipment from transient over-voltage events. The new surge protection devices include direct modes of protection, including line-to-neutral, line-to-ground, and neutral-to-ground.

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There has been a significant increase in the number of surge protection manufacturers focusing on developing and offering customized and innovative solutions tailored to specific needs and requirements of industries and applications while ensuring that the surge protection systems meet the unique needs of their customers, which in turn, likely to open up new growth avenues for the global market. For instance, in August 2023, Toshiba Electronic Devices & Storage Corporation has recently unveiled their new surge-protection Zener diodes, the "XCUZ Series". This series is AEC-Q101 qualified and is particularly designed for automotive equipment. The device can be used for various voltage lines and helps improve the overall quality of automotive equipment.

Furthermore, with the rise in focus on reducing downtime because of equipment failure and rising focus towards resolving power quality issues in the industrialized nations caused the voltage spikes, the demand and adoption of innovative and advanced surge arresters all over the world are growing rapidly and likely to continue the trend in the coming years at a significant rate.

Surge Arrester Market Report Highlights

  • The polymeric segment accounted for a noteworthy market share, owing to its numerous advantageous features and greater demand from various businesses globally
  • The station class segment is projected to hold a significant share, mainly due to its widespread adoption use to protect grid infrastructure and electrical equipment
  • Industries segment will grow at the fastest pace, which is largely attributed to the growing electricity consumption of various industries, including automotive and manufacturing
  • Asia Pacific dominated the global market on account of the region’s high electricity production and surge in investments for grid infrastructure development
  • The key market players include Eaton Corporation, Hubbell Power Systems, Schneider Electric, TE Connectivity, Toshiba, and INAEL Electrical Systems

Polaris Market Research has segmented the surge arrester market report based on type, class, application, end-user, and region:

Surge Arrester, Type Outlook (Revenue - USD Billion, 2023 - 2032)

  • Porcelain
  • Polymeric

Surge Arrester, Class Outlook (Revenue - USD Billion, 2023 - 2032)

  • Station Class
  • Intermediate Class
  • Distribution Class

Surge Arrester, Application Outlook (Revenue - USD Billion, 2023 - 2032)

  • GIS
  • AIS

Surge Arrester, End-User Outlook (Revenue - USD Billion, 2023 - 2032)

  • Utilities
  • Industries
  • Transportation

Surge Arrester, Regional Outlook (Revenue - USD Billion, 2023 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Surge Arrester Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 1.75 billion

Revenue Forecast in 2032

USD 2.59 billion

CAGR

5.0% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments Covered

By Type, By Class, By Application, By End-User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, regions, and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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