Surge Arresters Market Introduction

Surge arresters, also known as lightning arresters, are protective devices used to prevent damage to electrical and electronic equipment from voltage surges caused by lightning strikes or other electrical disturbances. They are designed to limit the amount of overvoltage that can occur on an electrical system and prevent it from causing damage.Surge arresters are typically installed in high-voltage power systems, including transmission lines, distribution systems, and substations. They are also used in low-voltage systems, such as residential and commercial buildings, to protect sensitive electronic equipment.There are two main types of surge arresters: gap-type surge arresters and metal-oxide surge arresters. Gap-type surge arresters consist of a series of spark gaps that are designed to conduct electricity when a voltage surge occurs. Metal-oxide surge arresters, on the other hand, use a metal-oxide varistor (MOV) to absorb the excess voltage and prevent it from reaching the equipment.Surge arresters play a crucial role in maintaining the reliability and safety of electrical and electronic systems, particularly in areas with high lightning activity or other electrical disturbances. As such, they are widely used in a range of industries, including power generation, transmission, and distribution, as well as telecommunications, transportation, and manufacturing.

Surge Arresters Market Size

The global surge arresters market size was valued at approximately USD 1.9 billion in 2020. The market is expected to grow at a CAGR of around 6% from 2021 to 2028, driven by the increasing demand for reliable and safe electrical systems in various industries, including power generation, transmission, and distribution, as well as telecommunications, transportation, and manufacturing.The power transmission and distribution sector is the largest end-user of surge arresters, accounting for a significant share of the market. The increasing investment in renewable energy and smart grid systems is also expected to drive the growth of the surge arresters market in the coming years.Geographically, Asia Pacific is expected to have the largest market share for surge arresters, driven by the growing demand for electricity in countries like China and India. North America and Europe are also significant markets for surge arresters, driven by the need to upgrade aging power infrastructure and improve the reliability and safety of electrical systems.The surge arresters market is highly competitive, with several players offering a range of solutions to meet the evolving needs of their customers. Key players in the market include ABB, Siemens AG, Eaton Corporation, Schneider Electric SE, and Mitsubishi Electric Corporation, among others.Overall, the surge arresters market is expected to continue to grow in the coming years, driven by the increasing demand for reliable and safe electrical systems in various industries and the growing investment in renewable energy and smart grid systems.

Surge Arresters Market Share

The surge arresters market is highly competitive, with several players operating in the market. The key players in the global surge arresters market include ABB, Siemens AG, Eaton Corporation, Schneider Electric SE, Mitsubishi Electric Corporation, and GE Energy, among others.The market share of these key players varies depending on the region and end-user segment. In the power transmission and distribution sector, ABB and Siemens are among the leading players, accounting for a significant share of the market. In the telecommunications sector, Eaton Corporation and Schneider Electric SE are among the leading players, offering surge protection solutions for communication networks.Geographically, Asia Pacific is expected to have the largest market share for surge arresters, driven by the growing demand for electricity in countries like China and India. North America and Europe are also significant markets for surge arresters, with several key players operating in these regions.The surge arresters market is also characterized by the presence of several local and regional players, particularly in developing countries. These players often offer lower-priced surge protection solutions, targeting small and medium-sized businesses that may not require advanced or high-end solutions.Overall, the market share of key players in the surge arresters market is expected to evolve as the market continues to grow and new players enter the market. The increasing adoption of advanced technologies, such as IoT and AI, is also expected to drive the development of more sophisticated surge arresters solutions in the coming years.

Surge Arresters Market Trends

The surge arrester market has experienced significant growth in recent years due to the increasing demand for reliable power supply and the need to protect electrical equipment from power surges. Here are some of the current trends in the surge arrester market:

1. Increasing demand from the renewable energy sector: The surge arrester market is seeing increased demand from the renewable energy sector, particularly in wind and solar power plants. Surge arresters are used to protect wind turbines and solar panels from lightning strikes and other power surges, ensuring reliable and continuous power supply.
2. Growing adoption of smart grids: The adoption of smart grids is increasing globally, with governments and utilities investing in modernizing their power grids to improve efficiency and reliability. Surge arresters are an essential component of smart grids, protecting the electrical equipment from overvoltage and ensuring stable and safe power supply.
3. Rising demand from the industrial sector: The industrial sector is a significant consumer of surge arresters, particularly in industries such as oil and gas, mining, and manufacturing. The increasing adoption of automation and digitalization in industrial processes has led to a growing need for reliable and safe power supply, driving the demand for surge arresters.
4. Technological advancements: The surge arrester market is witnessing technological advancements, with manufacturers developing new products and technologies to improve the efficiency and effectiveness of surge arresters. For instance, the use of zinc oxide varistors (ZnO) in surge arresters has become increasingly popular due to their high energy absorption capacity and long service life.
5. Increasing demand from emerging economies: The surge arrester market is seeing significant growth in emerging economies such as India, China, and Brazil. The increasing demand for electricity in these countries, coupled with the need to modernize their power grids, is driving the demand for surge arresters.

Overall, the surge arrester market is expected to continue to grow in the coming years, driven by the increasing demand from the renewable energy and industrial sectors, the adoption of smart grids, and technological advancements in surge arrester technology.

Surge Arresters Market Driving Factors

The surge arrester market is being driven by several factors, including:

1. Increasing demand for reliable power supply: The surge arrester market is seeing increased demand due to the growing need for reliable power supply. Surges in voltage can damage electrical equipment and disrupt power supply, causing downtime and financial losses. Surge arresters protect electrical equipment from overvoltage and ensure a stable and reliable power supply.
2. Growing adoption of renewable energy: The surge arrester market is benefiting from the increasing adoption of renewable energy sources such as wind and solar power. Surge arresters are an essential component of wind turbines and solar panels, protecting them from lightning strikes and other power surges.
3. Modernization of power grids: Governments and utilities around the world are investing in modernizing their power grids to improve efficiency and reliability. Surge arresters are a critical component of modern power grids, protecting electrical equipment from overvoltage and ensuring a stable and safe power supply.
4. Increasing demand from the industrial sector: The industrial sector is a significant consumer of surge arresters, particularly in industries such as oil and gas, mining, and manufacturing. The adoption of automation and digitalization in industrial processes has led to a growing need for reliable and safe power supply, driving the demand for surge arresters.
5. Technological advancements: The surge arrester market is seeing technological advancements, with manufacturers developing new products and technologies to improve the efficiency and effectiveness of surge arresters. For instance, the use of zinc oxide varistors (ZnO) in surge arresters has become increasingly popular due to their high energy absorption capacity and long service life.
6. Increasing demand from emerging economies: The surge arrester market is seeing significant growth in emerging economies such as India, China, and Brazil. The increasing demand for electricity in these countries, coupled with the need to modernize their power grids, is driving the demand for surge arresters.

Overall, the surge arrester market is expected to continue to grow in the coming years, driven by the increasing demand for reliable power supply, the adoption of renewable energy sources, the modernization of power grids, technological advancements, and increasing demand from emerging economies.

Surge Arresters Market Regional Analysis

The surge arresters market is analyzed regionally, and the key regions include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.North America and Europe are mature markets for surge arresters, with a high level of investment in power infrastructure and the adoption of advanced technologies. The surge arresters market in these regions is driven by the need to upgrade aging power infrastructure and improve the reliability and safety of electrical systems. In addition, the increasing adoption of renewable energy and smart grid systems is also driving the growth of the surge arresters market in these regions.Asia Pacific is expected to have the largest market share for surge arresters, driven by the growing demand for electricity in countries like China and India. The surge arresters market in this region is also driven by the increasing investment in renewable energy and smart grid systems. Furthermore, the growing urbanization and industrialization in countries like China and India are expected to increase the demand for surge protection solutions in various industries.Latin America and the Middle East and Africa are also significant markets for surge arresters, with several key players operating in these regions. The surge arresters market in these regions is driven by the increasing investment in power infrastructure and the adoption of advanced technologies.Overall, the surge arresters market is expected to grow in all regions, driven by the increasing demand for reliable and safe electrical systems in various industries and the growing investment in renewable energy and smart grid systems.

Surge Arresters Market Forecasts 2030 

The global surge arresters market is expected to grow at a CAGR of around 6% from 2021 to 2030. The market size was valued at approximately USD 1.9 billion in 2020 and is expected to reach around USD 3.1 billion by 2030.The increasing demand for reliable and safe electrical systems in various industries, including power generation, transmission, and distribution, as well as telecommunications, transportation, and manufacturing, is driving the growth of the surge arresters market. Additionally, the growing investment in renewable energy and smart grid systems is expected to drive the growth of the surge arresters market in the coming years.Geographically, Asia Pacific is expected to have the largest market share for surge arresters, driven by the growing demand for electricity in countries like China and India. North America and Europe are also significant markets for surge arresters, driven by the need to upgrade aging power infrastructure and improve the reliability and safety of electrical systems.The power transmission and distribution sector is the largest end-user of surge arresters, accounting for a significant share of the market. The increasing adoption of renewable energy and smart grid systems is also expected to drive the growth of the surge arresters market in the coming years.The surge arresters market is highly competitive, with several players offering a range of solutions to meet the evolving needs of their customers. Key players in the market include ABB, Siemens AG, Eaton Corporation, Schneider Electric SE, and Mitsubishi Electric Corporation, among others.Overall, the surge arresters market is expected to continue to grow in the coming years, driven by the increasing demand for reliable and safe electrical systems in various industries and the growing investment in renewable energy and smart grid systems.

Surge Arresters Market Key Industry Players

Some of the key industry players in the surge arrester market include:

1. ABB Ltd.
2. Siemens AG
3. Eaton Corporation Plc
4. General Electric Company
5. Schneider Electric SE
6. Mitsubishi Electric Corporation
7. Raycap Corporation S.A.
8. Legrand SA
9. Emerson Electric Co.
10. Lamco Lightning Protection

These companies are involved in the production and distribution of surge arresters for various applications, including power transmission and distribution, renewable energy, oil and gas, and industrial processes. They are investing in research and development to develop new and innovative surge arrester products and technologies, as well as expanding their global reach through strategic partnerships and acquisitions.