Surge Arrester Market

Surge Arrester Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032
Frequently asked questions about this report

The surge arrester market was estimated to be US$ 1.70 Billion in 2022.

The surge arresters market is being driven by several factors, including the increasing demand for power transmission and distribution systems, expansion of industrial and commercial infrastructure, growing concern for the protection of electronic devices from power surges, increasing occurrences of lightning strikes and power outages, and technological advancements in surge arrester design and manufacturing.

The surge arresters market is expected grow at a CAGR of 5.3% between 2023 to 2032.

Based on the type, the market is segmented into Polymeric, and Porcelain.

The High Voltage segment is currently the largest, owing to the widespread use of surge arresters in high voltage power transmission and distribution systems.

North America region will lead the global surge arrester market. The region is also witnessing the replacement of aging power infrastructure, which has further driven the demand for surge arresters. In addition, the increasing adoption of electric vehicles is expected to fuel the growth of the surge arresters market in North America.

Hitachi ABB, Siemens Energy, General Electric, Eaton, Hubbell, CG Power, Schneider Electric, Meidensha, Mitsubishi Electric (Japan), and Toshiba (Japan), among others are the leading companies in the global malt ingredients market.