Research Nester assesses the growth and market size of the global surge arrester market which is anticipated to be on account of the growing production of electricity and rising investment in transmission and distribution lines.
Research Nester’s recent market research analysis on“Surge Arrester Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global surge arrester market in terms of market segmentation by type, voltage, class, application, end user, and by region.
Growing Development of Smart Cities to Promote Global Market Share of Surge Arrester
The global surge arrester market is estimated to grow majorly on account of the growing popularity of smart grids in the world. Smart grids are considerably more complicated than regular power systems. They use modern communications, which raises the likelihood of power breakdowns and other disruptions. As a result, the demand for surge arrestors has increased to assure continuous data transmission. Furthermore, growing industrialization and urbanization have increased the need for electricity, which in turn increases the load of power on the lines. These rising loads increase the risk of malfunction and disturbances, which further increases the need for a surge arrester.
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Besides this, with the rising focus on reducing greenhouse gas emissions and achieving carbon neutrality, the government is emphasizing boosting the electrification all across the world. The electrification procedure further complexes the electrical networks and significantly drive the demand for surge arrester in the world.
Some of the major growth factors and challenges that are associated with the growth of the global surge arrester market are:
Growth Drivers:
· Surge in Electrification
· Aging Infrastructures of Transmission and Distribution Lines
Challenges:
The illegal sales of surge arrester by an authorized dealer is expected to hamper the sales of leading manufacturers and is one of the major factors anticipated to hamper the global market size of surge arrester. On the other hand, people are not aware of the protection provided by surge arrestors, moreover, there is much confusion regarding its efficiency. These factors are also expected to impede the market growth.
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On the basis of the type of surge arrester, the global surge arrester market is segmented into porcelain and polymeric. The polymeric segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The polymeric segment is to dominate the market growth owing to its various characteristics, such as high durability, better energy handling capacity, and high resistance to contaminated environments. On the other hand, based on the end users, the market is further divided into utilities, industries, and transportation. Out of these, the utilities segment is to garner the largest share and the transportation sector will also expect significant growth. The growth is majorly expected owing to the rising deployment of electric vehicles.
By region, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing awareness of surge arrestors in the region. Moreover, investment in the transmission and distribution of renewable energy is augmenting the demand for surge arrestors. Besides this, Europe often faces blackouts owing to its old electrical infrastructures. As an outcome, the government through the region is emphasizing updating and replacing the existing infrastructure with modern facilities and equipment. This will improve the reliability and resilience of the grid and will develop a smarter power network.
This report also provides the existing competitive scenario of some of the key players of the global surge arrester market which includes company profiling of Siemens AG, General Electric, Schneider Electric, CG Power & Industrial Solutions Ltd, Legrand S.A, Emerson Electric Co., CS Technologies s.r.o, Vertiv Group Corp., TE Connectivity, and Lamco Industries Pvt Ltd.
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