A surge arrester is a device primarily used to protect electrical equipment from excess voltage derelict caused by external lighting or internal switching proceedings. They are primarily the most efficient type of overvoltage protection. The surge arrester limits the voltage supply to an electric device by blocking or shorting the excess voltage. The market for surge arrester is witnessing significant growth because of the rise in alternative energy implementations, increase in demand for protection of electronic devices and the power quality issues faced. However, the high installation cost of surge arresters and the type of surge arresters vary from one device to another depending upon the voltage ranges will be restraining the global surge arrester market.
Surge arresters are segmented on the basis of the types of voltage they operate upon, such as high, medium and low voltage systems. Furthermore, they are classified based on the application types such as residential, industrial and commercial applications. The high voltage surge arrester are expected to grow the fastest and they are mainly installed in dwellings with the risk of lightning strikes and damage to the power control and distribution boards. The market is dominated by North America and Europe, where there is an increased investment in protecting urbanized infrastructure development. The Asia Pacific region is expected to grow the largest during the forecast period.
The surge arrester market is expected to grow at a CAGR of more than 5.5% during the forecast period.
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The key players of global surge arrester market are Siemens AG (Germany), Eaton Corporation Plc. (Ireland), Littelfuse, Inc. (U.S.), ABB, Ltd. (Switzerland), Schneider Electric SE (France), General Electric (U.S.), Vertiv. (U.S), HAKEL spol. S r. o (Czech), Legrand S.A. (France), Mitsubishi Electric Corporation (Japan), Crompton Greaves Ltd. (India) and Emerson Electric (U.S).
Global Surge Arrester market
There is a global demand for protecting electrical appliances from sudden voltage hike and power quality issues that may result in frequent equipment failures. Furthermore there is an increased power production from alternative energy systems around the world, which drives the need for surge arrester. With increased urbanisation projects, the Europe and the North America region is expected to dominate the market. Also the plan to digitally transform the automobile, industrial and IT manufacturing industries, is driving the market. A similar trend is witnessed in the Asia-Pacific regions where there is an increase in infrastructure projects and manufacturing, especially in countries such as China and India. The region is expected to witness an increased growth rate during the forecast period.
Industrial application is expected to hold the largest share in surge arrester market.
The report has been analyzed based on applications, voltage and regions. The industrial application segment is expected to witness a substantial growth because of the growing alternative energy system implementation around the world. The increase in the investment on digitally transforming the electrical, auto and manufacturing industries for achieving high production efficiency, is driving the market for surge arrester. Also urbanized infrastructure programs demanding protection of dwellings from voltage surge due to lightning strikes, is further expected to drive the market for surge arrester.
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