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Low Voltage Surge Arrester Market Size
- Report ID: GMI5871
- Published Date: May 2023
- Report Format: PDF
Low Voltage Surge Arrester Market Size
Low Voltage Surge Arrester Market size exceeded USD 451.3 million in 2023 and is anticipated to grow at 6.1% CAGR from 2024 to 2032. Increasing demand for electricity across various sectors has been a major driver for the rise in deployment of surge arresters over the previous years.
Industries, commercial facilities, and residential areas require a stable and uninterrupted power supply to meet their operational needs, which propel the demand for surge arresters positively. As the demand for electricity continues to rise due to population growth, urbanization, and industrialization, there is a greater risk of voltage surges and electrical disturbances. Low voltage surge arresters play a crucial role in protecting electrical equipment and systems from such voltage spikes and ensuring the safety and reliability of electrical infrastructure, which in turn drives the industry growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Low Voltage Surge Arrester Market Size in 2023: | USD 451.3 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6.1% |
| 2032 Value Projection: | USD 780.5 Million |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 350 |
| Tables, Charts & Figures: | 452 |
| Segments covered: | Material, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Low Voltage Surge Arrester Market Scope
