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Europe Surge Arrester Market Size
- Report ID: GMI7016
- Published Date: Oct 2023
- Report Format: PDF
Europe Surge Arrester Market Size
Europe Surge Arrester Market was valued at over USD 412.9 million in 2023 and is projected to grow at a CAGR of over 5.8% between 2024 and 2032. The increasing emphasis on modernizing and upgrading the region's electrical infrastructure to enhance grid reliability and stability has fueled the demand for surge arresters. With growing urbanization and the integration of renewable energy sources, there is a greater need to protect sensitive electrical equipment and systems from voltage surges and transient over voltages. As per Eurostat, renewable energy consisted of the highest share of 41% in energy production and 38% in electricity production in 2021.
The surge arrester market benefits from advancements in technology, particularly in the development of more efficient and reliable surge protection solutions. The increasing adoption of polymer-based surge arresters, which offer superior performance and durability, contributes to market growth. Furthermore, Europe's focus on renewable energy integration, particularly in countries like Germany and Spain, has led to the need for surge protection solutions to safeguard the growing number of solar and wind installations.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Europe Surge Arrester Market Size in 2023: | USD 412.9 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 5.8% |
| 2032 Value Projection: | USD 692.6 Million |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 235 |
| Tables, Charts & Figures: | 263 |
| Segments covered: | Voltage, Class, Material, Application |
| Growth Drivers: |
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Frequently Asked Questions (FAQ) :
Europe Surge Arrester Market Scope
