Polymer Surge Arrester Market Size - By Voltage (Low, Medium, High), By Class (Distribution, Intermediate, Station), By Application (Residential & Commercial, Industrial, Utility) & Forecast, 2024 – 2032

Polymer Surge Arrester Market Size

Polymer Surge Arrester Market was valued at USD 800 million in 2023 and is anticipated to grow at a CAGR of over 5.5% from 2023 to 2032, on account of the increasing demand for reliable and efficient power transmission and distribution systems has been a major factor propelling market growth. Growing industrialization and urbanization have fueled the need for reliable power supply across the newly constructed infrastructure. As industries and households alike rely heavily on uninterrupted electricity supply, the need for robust surge protection devices like polymer surge arresters has surged.
 

Moreover, technological advancements in polymer materials have led to the development of more durable, lightweight, and cost-effective surge arresters, making them increasingly attractive for utilities and infrastructure developers. Additionally, the rising awareness regarding the protection of electrical equipment from voltage spikes and surges, coupled with stringent safety regulations mandating the use of surge protection devices, has further fueled the market expansion.
 

COVID-19 Impact

The COVID-19 pandemic initially slowed down the polymer surge arrester market due to disrupted supply chains, delayed projects, and reduced industrial activities. However, as industries gradually resumed operations, the market witnessed a resurgence driven by the growing need for resilient electrical infrastructure in response to remote work setups and increased reliance on digital technologies, emphasizing the importance of surge protection devices, thus prompting a steady recovery and potential market expansion.
 

Polymer Surge Arrester Market Trends

The increasing adoption of eco-friendly and high-performance polymer materials in surge arrester manufacturing, aligning with sustainability initiatives and stricter environmental regulations will drive the demand for polymer surge arrester. Additionally, the market has experienced a rise in R&D investments focused on developing surge arresters with higher energy handling capacities and improved reliability, catering to the evolving needs of modern power distribution networks. Despite these the market has witnessed a growing preference for surge arrester installations in renewable energy generation facilities, reflecting the industry's response to bolstering the protection of renewable energy infrastructure against electrical surges and voltage fluctuations.
 

Polymer Surge Arrester Market Analysis

The medium voltage surge arresters accounted for more than 40% of the market share in 2023 and is set to register 5.5% CAGR through 2032, attributed to global trends in urbanization, industrialization, and expansive infrastructure projects, particularly prominent in developing nations. The escalating incorporation of renewable energy sources like solar and wind power into existing electrical grids underscores the necessity for these surge arresters to safeguard such systems against voltage irregularities. Moreover, the heightened demand for resilient distribution networks, driven by the proliferation of residential and commercial establishments, is poised to further bolster the adoption of polymer surge arresters.
 

The distribution segment valuation crossed USD 240 million and is projected to exceed USD 400 million by 2032. Moreover, the distribution class encompasses heavy-duty and normal-duty riser pole classifications, along with specialized variants like dead front elbow and riser pole systems, further enhancing their popularity in diverse industries by ensuring reliable protection for a variety of equipment. This popularity continues to drive the global penetration of these surge arrester systems.
 

The residential and commercial sectors over the years, saw an exponential rise in deployment of polymer based surge arrester, which is further anticipated to grow by 2032. The growth in demand for surge arresters in these establishments is fueled by the increasing integration of extensive frequency distribution networks and mounting concerns regarding over voltages. With rural-to-urban migration and the expansion of commercial sectors, there's a heightened rate of surge arrester installations in these areas. Globally, governments are revamping existing power grids to tackle frequent power outages caused by voltage spikes, lightning impulses, and internal system faults.
 

Asia Pacific polymer surge arrester market is poised to attain 4.5% CAGR between 2024 and 2032, owing to the rapid urbanization, infrastructural development, and expanding industrialization across countries like China, India, and Southeast Asian nations. The escalating demand for reliable electricity supply in both urban and rural areas, coupled with government initiatives to modernize and upgrade aging power infrastructure, fuels the surge arrester market. Moreover, the region's vulnerability to natural calamities like lightning strikes amplifies the necessity for effective surge protection systems, stimulating the adoption of polymer surge arresters across diverse sectors.
 

Polymer Surge Arrester Market Share

ABB commands a significant market share in the polymer surge arrester segment owing to its distinguished technological innovations, extensive global presence, and proven track record of delivering high-quality electrical protection solutions. With a strong emphasis on research and development, ABB consistently introduces cutting-edge surge arrester products tailored to meet diverse industry needs. Its strategic partnerships, customer-centric approach, and robust distribution network further solidify its market leadership. ABB's commitment to reliability, efficiency, and innovation has earned the trust of customers worldwide, establishing it as a formidable force in the polymer surge arrester market.
 

Some of the key market players operating across the polymer surge arrester industry are:

• TE Connectivity
• ABB
• General Electric
• CG Power & Industrial Solutions Ltd.
• Eaton
• Siemens Energy
• Hubbell
• Izoelektro
• INAEL, S.A.
• CHINT Group
• DEHN SE
• Ensto
• Elpro
• Surgetek
• Hangzhou Yongde Electric Appliances Co.,Ltd
• Compaq International (P) Limited
• Zhejiang Volcano Electrical Technology Co.,Ltd
• Rashtriya Electrical And Engineering Corporation
• Electric Powertek
• Zhejiang Ruili ELectric Co.,Ltd
• Toshiba Energy Systems & Solutions Corporation
   

Polymer Surge Arrester Industry News

• In September 2021, Toshiba Energy Systems & Solutions Corporation unveiled a significant milestone in its surge arrester segment through a collaboration with Turkey's Zorlu Energy Group. This partnership aims to deploy Toshiba's cutting-edge polymer surge arrester technology at Zorlu's Enerjisa Bandirma Power Plant in Turkey. The initiative emphasizes the integration of Toshiba's innovative surge arrester solutions, showcasing the company's commitment to enhancing power grid resilience and safeguarding critical electrical infrastructure. This strategic collaboration underscores Toshiba's dedication to advancing polymer surge arrester technology, providing reliable solutions, and fortifying its position as a leader in the global surge arrester market.
   

This polymer surge arrester market research report includes an in-depth coverage of the industry with estimates & forecast in terms of units and revenue in ‘000 Units and USD Million from 2019 to 2032, for the following segments:

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Market, By Voltage

• Low
• Medium
• High

Market, By Class

• Distribution
• Intermediate
• Station

Market, By Application

• Residential & Commercial
• Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
• Latin America
  • Brazil
  • Argentina