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Commercial Surge Arrester Market Trends

Report ID: GMI7961
Published Date: Jan 2024
Report Format: PDF

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Commercial Surge Arrester Market Trends

The commercial surge arrester industry is witnessing notable trends driven by advancements in technology, increased demand for reliable power supply, and a growing emphasis on the protection of electronic equipment. Surge arresters play a crucial role in safeguarding electrical systems by diverting excessive voltage and preventing damage caused by transient overvoltages. The market is experiencing a shift towards smart surge arresters that offer real-time monitoring and remote diagnostics. Additionally, there is a rising focus on sustainable and eco-friendly solutions, leading to the development of surge arresters with reduced environmental impact.

The need for advanced surge protection solutions becomes paramount in urban environments, where the concentration of electronic equipment, critical infrastructure, and interconnected systems is higher, thereby fueling the demand for surge arresters and contributing to the overall market growth.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of commercial surge arrester was reached USD 391 million in 2023 and is estimated to record over 5.9% CAGR from 2024 to 2032, owing to the growing awareness of the financial implications associated with equipment damage and downtime due to power surges.

The low voltage surge arresters segment exceeded USD 80 million in 2023 and is anticipated to surpass USD 125 million by 2032, owing to the increasing reliance on electronic devices in commercial spaces, coupled with a rising awareness of the importance of power quality.

Asia Pacific market for commercial surge arrester will exceed USD 225 million by 2032, attributed to the rapid urbanization and industrialization in the region, that have led to an increased demand for reliable power infrastructure.

ABB, CHINT Group, DEHN SE, DITEK, Inc., Eaton, Elpro, Ensto, General Electric, Hager Group, Littelfuse, Inc., Raycap, Schneider Electric, Siemens, Surgetek, and TDK Electronics AG.