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Medium Voltage Surge Arrester Market Size
- Report ID: GMI6730
- Published Date: Sep 2023
- Report Format: PDF
Medium Voltage Surge Arrester Market Size
Medium Voltage Surge Arrester Market size was valued at around USD 731.6 million in 2023 and is estimated to record a CAGR of over 5.1% during 2024 to 2032. Increasing awareness of the importance of protecting medium voltage electrical systems from transient overvoltages and voltage surges is acting as a major driver for the product penetration. In addition growing demand for uninterrupted power supply and the need to enhance the reliability and performance of electrical networks are boosting the adoption of medium voltage surge arresters.
The expansion of renewable energy generation, such as wind and solar, has increased the complexity of medium voltage distribution systems, making surge protection crucial to safeguarding the integrity of these systems. Moreover, stringent regulatory requirements and safety standards related to power quality and equipment protection are encouraging the deployment of surge arresters in medium voltage networks. As a result, the market is expected to experience sustained growth as industries and utilities prioritize the protection and efficiency of their electrical infrastructure.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Medium Voltage Surge Arrester Market Size in 2023: | USD 731.6 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 5.1% |
| 2032 Value Projection: | USD 1.15 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 371 |
| Tables, Charts & Figures: | 451 |
| Segments covered: | Material, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Medium Voltage Surge Arrester Market Scope
