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Surge Arrester Market Size

Report ID: GMI2544
Published Date: Nov 2024
Report Format: PDF

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Surge Arrester Market Size

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.

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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.

Surge Arrester Market Report Attributes
Report Attribute	Details
Base Year:	2024
Surge Arrester Market Size in 2024:	USD 1.8 Billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	4.8%
2025 – 2034 Value Projection:	USD 3 Billion
Historical Data for:	2021 – 2023
No. of Pages:	100
Tables, Charts & Figures:	20
Segments covered:	Product, Application
Growth Drivers:	Refurbishment of existing grid networks Rapid smart grid adoption Increasing demand for electricity Increasing demand for sustainable electrical networks
Pitfalls & Challenges:	Fluctuating raw material cost

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

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.

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.

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.