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Surge Arrester Market Trends

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

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Surge Arrester Market Trends

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.

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.