Surge Arrester Market
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The global surge arrester market was valued at USD 1.8 billion in 2024 and is anticipated to grow at a CAGR 4.8% from 2025 to 2034, owing to several key factors. These include the demand for reliable power supply across industries, increased investments in power infrastructure in emerging economies, and the growth of renewable energy generation prone to voltage fluctuations. The adoption of industrial automation and smart grids, along with stringent power quality and safety regulations, further drives market growth.
Additionally, the rising frequency of lightning strikes and environmental disturbances contributes to the need for enhanced surge protection. The U.S. Department of Energy reports that renewable energy sources accounted for 21% of total U.S. electricity generation in 2022, underscoring the growing requirement for surge protection in these systems. These factors collectively fuel the demand for advanced surge protection solutions to safeguard critical electrical equipment and minimize downtime.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Surge Arrester Market size in 2024: | USD 1.8 Billion |
| Forecast Period: | 2025 – 2034 |
| Forecast Period 2023 - 2032 CAGR: | 4.8 |
| 2023 Value Projection: | USD 3 Billion |
| Historical Data for: | 2021 - 2024 |
| No of Pages: | 100 |
| Tables, Charts & Figures: | 20 |
| Segments Covered: | Product, Application |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The surge arrester industry is experiencing key trends led by evolving power system demands. Hybrid and metal oxide surge arresters (MOSAs) are gaining traction due to their superior energy absorption and durability. Integration of surge arresters in renewable energy systems and electric vehicle charging stations is increasing to protect sensitive electronics. Smart surge arresters with monitoring capabilities are emerging, enabling real-time diagnostics and predictive maintenance.
The U.S. Energy Information Administration reported that in August 2023, Hurricane Idalia caused power outages affecting over 1.2 million customers across several states, underscoring the critical need for robust surge protection. As industries adopt automation and smart grids, demand for surge protection in complex electrical networks continues to grow, further expanding the market.
The medium voltage surge arrester industry is expected to cross USD 1.2 billion by 2034, propelled by the increasing demand for reliable power protection solutions across industrial and commercial sectors. Key factors contributing to this growth include the expansion of power generation and distribution networks, the rising adoption of renewable energy sources, and the increasing frequency of extreme weather events, which heighten the risk of voltage surges. Additionally, the growing implementation of smart grids, which require enhanced protection against voltage spikes, and the need for reliable electrical infrastructure in emerging markets are also fueling market expansion. As industries seek to improve the safety and longevity of electrical systems, the market is poised for significant growth.
The surge arrester market in the utility sector is predicted to witness about 4% CAGR through 2034, driven by the increasing need for reliable power protection in utility networks, especially with the expansion of grid infrastructure and the integration of renewable energy sources. The rise in extreme weather events, such as storms and lightning strikes, which pose risks to electrical systems, further boosts demand for surge arresters. Additionally, the ongoing development of smart grids and the push for modernization of aging power infrastructure are key factors driving market growth. Utilities are increasingly prioritizing the protection of critical assets, enhancing the demand for surge protection solutions.
The U.S. surge arrester market is projected to exceed USD 2.9 billion by 2034, driven by investments in power infrastructure modernization and grid reliability enhancement. Key growth factors include renewable energy integration, smart grid expansion, and increasing severe weather events. The U.S. Department of Energy reported that in 2022, renewable energy sources accounted for 22.6% of total U.S. electricity generation, up from 20.1% in 2021, highlighting the growing need for surge protection in these systems. The demand for reliable electrical systems in critical sectors like data centers and healthcare further fuels market growth.
The Asia Pacific surge arrester market is driven by rapid industrialization, urbanization, and the expansion of power infrastructure across the region. Increasing investments in renewable energy, especially in countries like China, India, and Japan, create a growing need for surge protection. Additionally, the rise of smart grid projects and upgrades to aging power networks, coupled with heightened vulnerability to weather-induced power surges, are fueling demand for surge arresters across diverse sectors.
ABB holds a significant share in the global surge arrester industry, leveraging its expertise in advanced electrical solutions and strong presence across key regions. Known for its high-quality metal oxide and hybrid surge arresters, ABB caters to diverse sectors, including utilities, industrial, and renewable energy, supporting reliable power systems and protection from voltage spikes. Its innovation-driven approach further strengthens its market position.
Major players operating in the surge arrester industry are:
Market, By Voltage
Market, By Class
Market, By Material
Market, By Application
The above information has been provided for the following regions and countries:
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, and TDK Electronics AG.
Asia Pacific surge arrester industry is poised to attain 4.5% gains during 2023-2032, owing to soaring population resulting in growing reliable electricity demand, in consort with strong government support for T&D refurbishment projects.
The market size of surge arrester surpassed USD 1.7 billion in 2023 and is estimated to expand at 5.2% CAGR from 2024 to 2032, attributed to rising electricity demand from power and heavy industries, as well as commercial facilities.
The residential & commercial application segment witnessed an annual installation of over 6.5 million units in 2022 and will note installations over 15 million units in 2032, on account of growing focus on integrating extensive frequency distribution networks, coupled with escalating concerns regarding over-voltages.