Global Surge Arrester Market 2018-2023 Expected to Grow at a CAGR of 5.11% During the Forecast Period - ResearchAndMarkets.com

DUBLIN--()--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 surge arrester market is projected to grow from an estimated USD 1.56 billion in 2018 to USD 2.01 billion by 2023, at a CAGR of 5.11%, from 2018 to 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. Counterfeiting of products by local players could hinder market growth to a certain extent.

Medium voltage surge arresters are predominantly used in industrial, transportation, and distribution substations. 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.

Asia Pacific is expected to be the fastest-growing surge arrester market during the forecast period. Asia Pacific is the most populated region in the world and consequently witnesses a high demand for electricity. The T&D infrastructure in the region is in the initial stage of grid restructuring. Countries such as China, Japan, and India are investing in grid expansion projects to increase distribution grid reliability.

The leading players in the surge arrester market are ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Hubbell (US), Schneider (France), CG Power (India), GE (US), Mitsubishi Electric (Japan), TE Connectivity (Switzerland), CHINT Group (China), and Lamco (India).

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

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Surge Arrester Market, by Type

7 Surge Arrester Market, by Class

8 Surge Arrester Market, by Voltage

9 Surge Arrester Market, by End-User

10 Surge Arrester Market, by Region

11 Competitive Landscape

12 Company Profiles

  • 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/hlpnhm/global_surge?w=4

Contacts

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Related Topics: Electrical Switches

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Electrical Switches