Global Surge Arrester Market
Global Surge Arrester Market was valued at US$ 1.62 Bn in 2017 and is expected to reach US$ 2.40 Bn by 2026, at a CAGR of 5.04 % during a forecast period.
A surge arrester is a device to shelter electrical equipment from over-voltage transients produced by external or internal events. A surge arrester is also called a surge protection device or transient voltage surge suppressor. It is used to protecting equipment in power transmission and distribution systems.
Increasing usage of highly sensitive electrical systems and the high demand for electric appliances are expected to boost surge arrester. The growing deployment of electrical equipment is foremost to growing consumption of power. The increasing power consumption is boosting the expansion of power infrastructure that necessitates the installation of surge arresters, to guarantee the safety of electrical equipment. Furthermore, a high cost of installation of surge arresters is one of the major restraints for the growth of the surge arrester market.
The objective of the report is to present a comprehensive assessment of the global surge arrester market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global surge arrester market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Polymeric surge arrestors are expected to share significant growth in the global surge arrestors market. The growth in the market is accredited to the increasing demand of Polymeric surge arrestors in many industrial applications. A polymeric material is becoming popular insulation material for outdoor insulation applications.
Medium voltage surge arresters are mainly used in end-user industries such as industrial, transportation, and distribution substations. An increase in the demand for electricity in uptown areas and development of electrical distribution networks to shrink power outages. These are the factors which are expected to increase segment share in the global surge arrestors market during the forecast period.
Utility segment is projected to hold the large share of the global surge arrestor market during the forecast period. The surge arrestor is dynamic components in power generation plants, transmission, and distribution substations, where they find application in distribution boards, switchgear, motor controls, and transformers. Growth in demand for the persistent delivery of electric power led to enlarged investments in the transmission & distribution infrastructure, which is expected to create the demand for surge arrestor systems in the utility segment. The growing concerns over the reducing energy resources are expected to boost the production of electricity from non-renewable resources, which is creating opportunities for the application of these arresters in the near future.
Geographically, Asia Pacific is expected to share significant growth in the global surge arrestor market. The growth in the market is attributed to the expansion of power infrastructure in this region. The substantial manufacturing infrastructure and growth of power generation sector in the region is expected to boost the demand for surge arresters. Additionally, replacement at prevailing sites and new installations of electrical generation devices are expected to increase demand for surge arrestors. China is rising at a robust pace, in terms of enlarging its overall supply of electrical energy. Robust industrial sector and growing demand for electricity from residential consumers are expected to boom surge arrestor market in this region.
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|Target State: Maharashtra|
Target City : Pune
Last Update : 16 April 2019
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|Item Owner : Snehal l|
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