The surge arrester market is expected to grow from an estimated USD 1.56 Billion in 2018 to USD 2.01 Billion by 2023, at a CAGR of 5.11%, during the forecast period. Investments in smart grids and energy systems, protection of equipment from failure caused by frequent voltage spikes, and aging power infrastructure are some of the factors driving the growth of surge arrester market. The market has been segmented on the basis of type, voltage, class, end-user, and region.

Extra-high voltage surge arresters find application in utilities to protect switchgears, transformers, circuit breakers, and overhead lines, among others. In the US the majority of the transmission infrastructure was installed between 1960 and 1970; this aging infrastructure needs to be replaced, which is expected to drive the surge arrester market during the forecast period.

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Target Audience:

• Transmission and distribution utilities
• State and national regulatory authorities
• Power generation utilities
• Consulting companies and associations in the energy and power sector
• Government and research organizations
• Surge arrester manufacturers
• Investment banks
• Engineering, procurement, and construction companies in the distribution sector

Scope of the Report:

• By Type
  • Polymeric
  • Porcelain
• By Voltage
  • Medium Voltage
  • High Voltage
  • Extra-High Voltage
• By Class
  • Distribution Class
  • Intermediate Class
  • Station Class
• By End-User
  • Utilities
  • Industries
  • Transportation
• By Region
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Europe is expected to hold the largest share of this market during the forecast period. European utilities are in the process of revaluating their assets and are shifting their focus to long-term sustainable business. The power generation, transmission, and distribution systems in the region are comparatively mature. The EU is focusing on upgrading its aging infrastructure, integrating renewable energy sources such as solar and wind power, and building interconnections to enable more efficient power and energy trading.

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In this industry, most players are global multinational companies. Some of the leading players in the surge arrester market include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Hubbell (US), Schneider (France), CG Power (India), GE (US), Mitsubishi Electric (Japan), TE Connectivity (Switzerland), CHINT Group (China), and Lamco (India).