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Residential Surge Arrester Market Trends

Report ID: GMI7937
Published Date: Jan 2024
Report Format: PDF

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Residential Surge Arrester Market Trends

In the residential surge arrester business, several noteworthy trends are shaping the industry landscape. There is a discernible shift towards smart surge protection solutions, integrating advanced technologies such as IoT connectivity and remote monitoring capabilities. This allows homeowners to proactively manage and monitor their electrical systems. Furthermore, the increasing integration of surge protection into smart home ecosystems is becoming prevalent, providing seamless connectivity and automation. As homes become more technologically advanced, the residential surge arrester market is responding with innovative, integrated surge protection solutions that align with the evolving needs of modern homeowners, driving the market towards a more connected and sustainable future.

Integration of smart grid and smart metering technology further drives the demand for surge protection devices across homes. Smart meters enable more precise monitoring and control of electricity consumption in households, contributing to heightened awareness of potential electrical vulnerabilities. As smart homes become increasingly prevalent, the integration of surge protection solutions within these advanced networks becomes imperative, fostering a parallel growth trajectory for the residential surge arrester market. The investment in smart grid infrastructure enhances the overall resilience and reliability of residential electrical systems, creating a conducive environment for surge arrester adoption.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of residential surge arrester was surpassed USD 136 million in 2023 and is set to expand at over 5% CAGR from 2024 to 2032, driven by the increasing reliance on electronic devices and appliances in households coupled with the growing adoption of smart home technologies.

The <120V surge arresters segment was worth over USD 80 million in 2023 and is poised to surpass USD 120 million by 2032, owing to the expanding array of low-voltage electronic devices and appliances integrated into modern homes.

Asia Pacific residential surge arrester industry is set to reach USD 70 million by 2032, attributed to the rapid urbanization and the increasing population density leading to the rise in residential construction and infrastructure development.

Some of the leading firms are CHINT Group, ABB, DEHN SE, DITEK, Inc., Hager Group, Eaton, Ensto, General Electric, Littelfuse, Inc., Raycap, Schneider Electric, Siemens, Surgetek, and TDK Electronics AG.