Global Surge Arrester Market (2020 to 2025) - Increasing Investments in Renewable Energy Projects and Smart Grids Presents Opportunities


Dublin, Jan. 26, 2021 (GLOBE NEWSWIRE) -- The "Global Surge Arrester Market by Type (Polymeric, Porcelain), Voltage (Medium, High, Extra High), Class (Distribution, Intermediate, Station), End-user (Utilities, Industries, Transportation), Application and Region - Forecast to 2025" report has been added to's offering.

The global surge arrester market is projected to reach USD 1.9 billion by 2025 from an estimated USD 1.5 billion in 2020, at a CAGR of 4.9% during the forecast period.

The rising demand for electricity in APAC and the growing focus on increasing renewable energy installed capacity are encouraging utilities to invest in the electricity transmission and distribution networks, as well as in electrification projects. These investments, along with investments to replace aging electric infrastructure in North America and Europe are expected to create the demand for surge arrester market.

However, Due to the COVID-19 pandemic, local currencies of many countries have depreciated. There is a misalignment of supply and demand, leading to financial losses for components/parts manufacturers. Key components used in manufacturing surge arresters are procured typically in US dollars, which results in increased component cost, which is likely to hamper the growth of the surge arrester market.

The polymeric segment, by type, is expected to be the largest market from 2020 to 2025

Porcelain is one of the oldest insulating materials used in a wide range of electrical equipment. With technological advances, polymeric insulators are increasingly adopted due to their lighter weight, superior performance under polluted conditions, and high energy handling capacity, and so on.Due to these advantages, polymeric surge arresters have been holding a larger market share, in terms of value, over the years, and a similar trend is likely to be observed in the coming years.

The utilities segment, by end-user, is expected to be the fastest-growing market from 2020 to 2025

Utilities include power generation, transmission, and distribution companies that play a major role in generating and delivering power to consumers. Surge arresters find applications in substations and networks across this energy chain, right from generation to distribution. Utilities is one of the major end-users of surge arresters owing to the fact that the sheer size of the electrical network operated by utilities is bigger compared to the industrial and transportation electric infrastructure. Increased investments to improve T&D network infrastructure to meet the growing demand for energy is the major factor for the largest market share of utilities among end-users.

Asia-Pacific: The fastest-growing region in the surge arrester market

North America is expected to be the fastest-growing surge arrester market during the forecast period. North America comprises US, Canada, and Mexico. US is the major surge arrester market in North America. Increased T&D investments in this region to support the growth of renewables and replace aging infrastructure are expected to drive the market growth. North America has an aging infrastructure, and this may increase the risk of a widespread blackout. Therefore, governments in the region are actively focusing on upgrading and replacing aging infrastructure to improve grid reliability and resilience and enable smarter power networks. T&D investments aimed at addressing these issues are expected to drive the growth of the surge arrester market in North America.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Scenario Analysis
3.1.1 Optimistic Scenario
3.1.2 Realistic Scenario
3.1.3 Pessimistic Scenario

4 Premium Insights
4.1 Attractive Opportunities in Surge Arrester Market
4.2 Surge Arrester Market, by Region
4.3 Surge Arrester Market, by Type
4.4 Surge Arrester Market, by Application
4.5 Surge Arrester Market, by End-user
4.6 Surge Arrester Market, by Voltage
4.7 Surge Arrester Market, by Class

5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
5.3 Global Road to Recovery from COVID-19
5.4 COVID-19 Economic Assessment
5.5 Market Dynamics
5.5.1 Drivers Increasing Investments in T&D Networks Growing Demand for Reliable and Continuous Power Supply Increasing Focus on Replacing Aging Equipment in Power Infrastructure
5.5.2 Restraints Presence of Gray Market for Surge Arresters
5.5.3 Opportunities Increasing Investments in Renewable Energy Projects and Smart Grids Growing Investments in Cross-Border Power Transmission Projects
5.5.4 Challenges Long Lead Times and Delays in Projects Pose Challenges to Surge Arrester Market Growth Supply Chain Disruptions due to COVID-19
5.6 YC-Shift
5.6.1 Revenue Shift and New Revenue Pockets
5.7 Market Map
5.8 Average Selling Price Trend
5.9 Supply Chain Analysis
5.9.1 Raw Material Suppliers
5.9.2 Manufacturers
5.9.3 End-users
5.10 Technology Analysis
5.11 Trade Data Statistics
5.12 Surge Arresters: Codes and Regulations
5.13 Case Study Analysis
5.13.1 Use of Surge Arresters by Hydro One Problem Statement Solution
5.14 Porter's Five Forces Analysis
5.14.1 Threat of Substitutes
5.14.2 Bargaining Power of Suppliers
5.14.3 Bargaining Power of Buyers
5.14.4 Threat of New Entrants
5.14.5 Intensity of Competitive Rivalry

6 Surge Arrester Market, by Type
6.1 Introduction
6.2 Polymeric
6.2.1 Easy Installation and Superior Performance Under Polluted Conditions Boost Demand for Polymeric Surge Arresters Globally
6.3 Porcelain
6.3.1 Low Price, High Mechanical Strength, and High Stability Contribute to Sustained Use of Porcelain Surge Arresters

7 Surge Arrester Market, by Application
7.1 Introduction
7.2 GIS
7.2.1 Availability of Limited Space, Coupled with Superior Electrical Performance of Sf6, to Boost Demand for Surge Arresters in GIS Substations
7.3 AIS
7.3.1 Growth of AIS Driven by Their Low Installation Cost and Easy Maintenance

8 Surge Arrester Market, by End-user
8.1 Introduction
8.2 Utilities
8.2.1 Increased Requirement for Reliable and Continuous Power Supply to Fuel Demand for Surge Arresters
8.3 Industries
8.3.1 Escalated Need for Uninterrupted Power Delivery and Protection from External Surges to Boost Demand for Surge Arresters
8.4 Transportation
8.4.1 Huge Investments in Railway Electrification and New Metro Rail Projects to Foster Market Growth

9 Surge Arrester Market, by Voltage
9.1 Introduction
9.2 Medium Voltage
9.2.1 Investments in Grid Modification and Electrification Projects to Drive Global Demand for Medium-Voltage Surge Arresters
9.3 High Voltage
9.3.1 T&D Investments in Asia-Pacific to Meet Growing Energy Demand Likely to Accelerate Market Growth
9.4 Extra High Voltage
9.4.1 Funding for UHV and EHV Power Lines in China and India to Propel Market Growth

10 Surge Arrester Market, by Class
10.1 Introduction
10.2 Distribution Class
10.2.1 Sustained Improvement and Investments in Building Industrial Infrastructure to Spur Growth of Market for Power Distribution Surge Arresters
10.3 Intermediate Class
10.3.1 Significant Investments in Renewable Energy Projects to Boost Demand for Intermediate-Class Surge Arresters
10.4 Station Class
10.4.1 Substantial Investments in Large-Scale EHV and UHV Projects to Boost Demand for Station-Class Surge Arresters

11 Surge Arrester Market, by Region
11.1 Introduction
11.2 North America
11.3 Asia-Pacific
11.4 Europe
11.5 Middle East & Africa
11.6 South America

12 Competitive Landscape
12.1 Overview
12.2 Market Evaluation Framework
12.3 Company Evaluation Quadrant
12.3.1 Star
12.3.2 Emerging Leaders
12.3.3 Pervasive
12.3.4 Emerging Companies
12.4 Market Share of Key Players, 2019
12.5 Ranking and Revenue Analysis of Top 5 Market Player
12.6 Competitive Scenario
12.6.1 Investments & Expansions
12.6.2 Contracts & Agreements
12.6.3 Mergers & Acquisitions
12.6.4 Joint Ventures

13 Company Profiles
13.1 Hitachi ABB Power Grids
13.2 Siemens Energy
13.3 General Electric (GE)
13.4 Eaton
13.5 Hubbell
13.6 Schneider Electric
13.7 CG Power and Industrial Solutions
13.8 Mitsubishi Electric
13.9 TE Connectivity
13.10 Meidensha
13.11 Elpro International
13.12 Lamco Industries
13.13 Oblum Electrical Industries
13.14 Elektrolites
13.15 Dehn International
13.16 Toshiba
13.17 HM Corporation
13.18 Ensto
13.19 Zhejiang Haivo Electrical
13.20 NGK Insulators
13.21 List of Other Surge Arrester Manufacturers

14 Appendix
14.1 Insights of Industry Experts
14.2 Discussion Guide
14.3 Knowledge Store: The Subscription Portal
14.4 Available Customizations

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