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Asia Pacific Surge Arrester Market Size

Report ID: GMI6628
Published Date: Sep 2023
Report Format: PDF

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Asia Pacific Surge Arrester Market Size

Asia Pacific Surge Arrester Market was valued at around USD USD 624.7 million in 2023 and is estimated to register more than 4.5% CAGR from 2024 to 2032. The surge arrester market in the Asia Pacific region is experiencing robust growth, propelled by several key drivers.

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The rapid urbanization and industrialization in emerging economies are leading to increased investments in critical infrastructure, including power distribution and telecommunications networks. As these networks expand, the need for effective surge protection to safeguard equipment and ensure uninterrupted service becomes paramount. Additionally, the growing awareness of the economic and operational losses caused by voltage surges and lightning strikes is driving the adoption of surge arresters across various sectors, from manufacturing to telecommunications and data centers.

Asia Pacific Surge Arrester Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Surge Arrester Market Size in 2023:	USD 624.7 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.5%
2032 Value Projection:	USD 939.5 Million
Historical Data for:	2019 to 2023
No. of Pages:	235
Tables, Charts & Figures:	264
Segments covered:	Voltage, Class, Material, Application
Growth Drivers:	Increasing demand for electricity Large scale renewable integration
Pitfalls & Challenges:	Fluctuating raw material cost

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Furthermore, the surge in renewable energy installations, such as solar and wind farms, is creating a heightened demand for surge protection to safeguard these investments. The Asia Pacific region's vulnerability to lightning strikes and extreme weather events further underscores the importance of surge protection, fueling market growth. With governments emphasizing grid resilience and reliability, surge arresters are poised to play a crucial role in ensuring uninterrupted power supply and protecting valuable assets across the Asia Pacific region.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

APAC surge arrester industry size was USD 624.7 million in 2023 and will reach over USD 939.5 million by 2032 due to rapid urbanization and industrialization in emerging economies.

Asia Pacific medium voltage surge arrester segment is poised to depict over 4.5% CAGR from 2023-2032 due to the ongoing urbanization, industrialization, and extensive infrastructure development projects, particularly in emerging economies.

China surge arrester industry size is anticipated to observe over 3.4% CAGR from 2023-2032 owing to soaring population growth and the surging reliable electricity demand.

CG Power & Industrial Solutions Ltd., Siemens Energy, Hubbell, Phoenix Contact, TE Connectivity, L&T Electrical & Automation, ABB, General Electric, INDELEC, Ensto, Hitachi Energy Ltd, CHINT Group, Toshiba, and Elpro are some of the major surge arrester companies in APAC.