Europe Surge Arrester Market Analysis

Europe Surge Arrester Market Analysis

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The medium voltage surge arresters market captured the major market share of over 42% in 2022 and is anticipated to grow at a CAGR of over 5.5% through 2032, due to the growing awareness of the need for reliable power distribution and grid protection. Europe's emphasis on grid modernization and the integration of renewable energy sources necessitates robust surge protection solutions to ensure grid stability and reliability. Additionally, the surge in industrial activities and urbanization is increasing the demand for medium voltage systems, further fueling the market.
 

The distribution class surge arresters market in Europe recorded a value of over USD 120 million in 2022 and is predicted to surpass USD 220 million by 2032. The primary growth driver is the increasing emphasis on enhancing the resilience and efficiency of power distribution networks throughout Europe. With the transition towards renewable energy sources and the integration of distributed generation systems, grid modernization is paramount. Distribution class surge arresters play a crucial role in safeguarding sensitive equipment and infrastructure against voltage surges, ensuring the uninterrupted flow of electricity.
 

Polymer based surge arresters held a market value of over USD 190 million in 2022 and is expected to grow at a CAGR of over 6.5% up to 2032. The increasing emphasis on environmental sustainability complements the product penetration in the coming years. Polymer-based surge arresters, also known as non-gapped metal oxide surge arresters, are considered more environmentally friendly due to their construction materials and manufacturing processes. As Europe continues to modernize its electrical grid, incorporating renewable energy sources and enhancing grid reliability, the demand for reliable surge protection devices like polymer-based surge arresters is on the rise.
 

The growth of the surge arrester market in Europe from the residential and commercial sector is driven by increasing concerns over the protection of sensitive electronic equipment and appliances. As more households and businesses rely on advanced electronics and automation systems, the risk of damage from voltage surges is a significant consideration. Surge arresters are becoming an essential component in these settings, providing a shield against sudden voltage spikes and ensuring the safe operation of electrical devices. With a growing awareness of the potential financial and operational losses associated with power disruptions, surge arresters are in high demand, especially in the residential and commercial sectors, driving market growth.
 

The UK surge arrester market is estimated to showcase 5% growth rate from 2023 to 2032, on account of the increasing need for grid stability and the protection of critical infrastructure across the nation. Surge arresters play a pivotal role in safeguarding the electrical grid, substations, and sensitive equipment against voltage surges caused by various factors, including lightning strikes and power switching. With the growing integration of renewable energy sources and the need for enhanced grid resilience, surge arresters are in high demand to maintain the stability and reliability of the power infrastructure in the UK, making them a vital driver of market growth.