Surge arresters is a protective device. Surge arresters can be designed for preventing electrical damage of electronic equipment. Surge arrester dissipates the extra voltage to the ground instead passing through the electronic device, while allowing the normal voltage continue to flow. These functions of surge arresters can be repeated according to ANSI standard C62.11. In general, these surge arresters are classified into polymeric and porcelain

The companies involved in the manufacturing of surge arresters focus on the reducing cost of the surge arresters, which will provide more benefits to the consumers. This development will help the surge arresters to penetrate more in the market. The surge arresters find their applications in diverse sectors such as utilities, industries, and transportation.

The global surge arresters market is segmented on the basis of type, voltage, class and end use, and region. Based on type, the market is divided into Polymeric and Porcelain. In terms of voltage, the market is categorized into Medium, High, and Extra High. On the basis of class, the market is divided into Distribution, Intermediate, and Station. On the basis of end users, the market is divided into Utilities, Industries, and Transportation. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Market Scope and Structure Analysis:

COVID-19 Scenario Analysis:

The global lockdown implemented in response to the COVID-19 outbreak has resulted in a financial collapse that has affected surge arresters market size. While the COVID-19 pandemic crisis unfolds, regulatory bodies all over the compel to impose strict lockdown and travel bans. Moreover, this has drastically affected the growth of the surge arrester market.

The supply chain systems were disrupted due to the COVID-19 pandemic, as a number of fundamental equipment and materials are profoundly dependent on imports from other countries. As government of different provinces have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall Surge arresters market opportunity globally. 

However, after the COVID-19 pandemic, the diversified and innovative applications of surge arrester such as utilities, industries, transportation, and others will foster the growth of the surge arrester market.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The major factors that impact the growth of the surge arresters market includes emerging demand for surge arresters in transmission and distribution segment, increase in the use of surge arresters in the to protect electrical equipment in the transmission and distribution segment.

Rise inn on-electric sectors, increase in adoption of electric vehicles in transportation, led to the demand for more electricity generation, which required device to protect the equipment’s from lighting and other natural calamities.

Therefore, increase in the electrification in non-electric sectors help to provide the demand for surge arrester market.

A substation is also built-in grid-connected renewable energy facilities to facilitate grid connection, and surge arrestors are used in such substations. As a result, an increase in the share of renewable energy power generation all across the globe offers market potential for surge arrester makers.

However, the increase in the sales of surge arrester in the gray market has led to the downgrade of brands name of market leader's because they sell cheap and poor-quality products under the name. Thus, increase in sales of local players in the gray market, may restraint the demand for surge arrestors market.

The Surge Arresters Market Trends are as Follows:

Extensive Use of Surge Arresters in the T&D:

The increase in investment in the transmission and distribution network (T& D). Along with the expansion and modernization of the T &D network has a direct impact on the demand for the protection devices. Surge arrester are an important component used to protect electrical equipment in the transmission and distribution network. They are installed in substations, power lines and other parts of the grid. For instance, according to the International Energy Agency’s World Energy Outlook for 2020, 2012-2019 global grid investment was $2.3 trillion, with an average annual investment of approximately $283 billion during the same period. Thus, increase in expansion in transmission and distribution surge the demand for surge arresters market.

Increased in Electrification in Non-electric Sectors:

The electrification of traditional non-electric sectors such as transportation has increased due to the introduction of electric vehicles. Furthermore, electricity generation in China increased by over 69% from 4207 TWh in 2010 to 7111.8 TWh in 2018, similar trend can be seen in India where electricity generation grew by over 65% from 937.5 TWh in 2010 to 1561 TWh in 2018. As well as network expansion in the U.S., Europe, and other developed countries to support the integration of renewable energy, will increase the demand for protection devices. Thus, increase in the electrification in non-electric sectors help to provide the demand for surge arresters market.

Key Benefits of the Report:

• This study presents the analytical depiction of the surge arresters’ industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the surge arresters market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the surge arresters market growth scenario.
• The current surge arresters market forecast is quantitatively analysis to benchmark the financial competency.
• Porter’s Five Forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed surge arresters market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions Answered in the Surge Arresters Market Research Report:

• What are the leading market players active in the surge arresters market?
• What the current trends will influence the surge arresters market in the next few years?
• What are the driving factors, restraints, and opportunities in the surge arresters market?
• What are the future projections that would help in taking further strategic steps?

 Key Market Segments

 
Key Market Players

• Hitachi ABB (Switzerland)
• Siemens Energy (Germany)
• General Electric (US)
• Eaton (Ireland)
• Hubbell (US)
• CG Power (India)
• Schneider Electric (France)
• Meidensha (Japan)
• Mitsubishi Electric (Japan)
• Toshiba (Japan)