Surge arrester Market Report Introduction and Overview, Industry Chain Analysis, Segmentation and Regions, Forecast to 2030

 Surge arrester market is valued at approximately USD 1.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.9 % over the forecast period 2020-2027.

Surge Arrester is device that defends electrical power system from harm caused by switching and lightning effects. It is occasionally known as wave protection device to safeguard equipment in diffusion of power and in supply system. Surge arresters are vital components for the safeguard of electrical equipment in transmission and distribution(T&D) networks. They are positioned in transmission lines, substations, and additional parts of electrical networks.

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In addition, the global surge arrester market is growing investments in transmission & distribution (T&D) networks. Development and upgrading of T&D networks have an immediate impact on the market growth. For instance, according to IEA World Energy Outlook 2020, USD 2.3 trillion was spent globally in the electric network for the period of 2012-2019, with a yearly investment of around USD 283 billion through the same period.

Financing in electrical networks is essential to consistently meet the rising electricity demands. With the rising electrification of traditionally non-electric sectors, due to the adoption of electric vehicles, such as transportation, the demand for electricity is expected to further augment during the forecast period. However, product counterfeiting by local players, may impede market growth over the forecast period of 2020-2027.

The regional analysis of the global Surge arrester market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share due to the technical developments in the region. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027, due to increasing need to increase renewable power generation capacity encourage utilities across APAC.

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Major market player included in this report are:

Hitachi ABB
Siemens Energy
General Electric
Eaton
Hubbell
CG Power
Schneider Electric
Meidensha
Mitsubishi Electric
Toshiba

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Polymeric
porcelain
By Voltage:
Medium Voltage
High Voltage
Extra High Voltage
By Class:
Distribution Class
Intermediate Class
Station Class
By Application:
AIS (Air insulated switchgear )
GIS(Gas insulated switchgear)
By end user:
Utilities
Industries
Transportation

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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027.

Target Audience of the Global Surge arrester market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Factors Influencing

The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.

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COVID-19 Impact Analysis

The COVID-19 pandemic has affected almost every industry. The market witnessed a significant decline in investments, mainly in the energy and power sector. According to the estimations by the International Energy Agency, investments in the energy and power domain are projected to decrease by 10% in 2020 as compared to the pre-pandemic statistics. This indicate the condition of global marketplace along with severe challenges faced during pandemic.

Regional Analysis

Asia-Pacific market is forecast to emerge as rapidly growing region in global market, owing to governments’ initiatives towards increasing urbanization and growing population leading to increasing demand of energy-based products and services. Also, North America is forecast to grow rapidly because of high energy consumption in the region and technological advancements across the sector. Energy consumption has been increasing in the region, mainly in the US; the primary energy consumption is segmented on the basis of nuclear electric power, petroleum, coal, renewable energy, and natural gas. The petroleum and natural gas segment is dominating the overall sector. In the mix of energy sources, petroleum accounts for around 35% of the overall consumption, whereas natural gas accounts for 34%.

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What is the key information extracted from the report?

Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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