Global surge arrester market was valued US$ XX.XX Bn in 2019 and is expected to reach US$ X2.XX Bn by 2027, at CAGR of X4.XX% during forecast period of 2020 to 2027.
Arresters are extremely authentic in adjusting and normalizing power consumption, they deliver effective protection to electronic appliances from the damages, while incidences of sudden voltage surges. The growing demand for consumer electronics and appliances, elicited by the increasing disposable incomes and the frequent changes in the lifestyles of individuals across the world has driven the demand for surge arresters expressively.
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Around the globe, demand as well as generation of power from different means is increasing which is likely to influence the demand for surge arresters positively in the forecast period. The growing industrialization in emerging economies is also expected to encourage the demand for these arresters. Apart from this, the increasing concerns over the depleting energy resources are anticipated to boost the production of electricity from non-renewable resources, creating opportunities for the application of these arresters in the forecast years.
Asia Pacific to register the fastest growth rate during the forecast period:
The global market for surge arresters spreads across Europe, Asia Pacific, North America, Latin America and Middle East Africa. Among all, North America is leading highest position in the demand for surge arresters over the recent past with the current market value share of US$ XX.XX Mn and expected to reach US$ XX.XX Mn by 2027 with anticipated CAGR of XX.XX%. The existence of a large pool of surge arrester manufacturers in this region has boosted the growth of the North American market significantly. North America, being an early adopter of surge arrestor technology, is likely to remain the leading regional market until 2027.
Europe and Asia Pacific closely followed North America with a share of 2X.X7% and 2X.X3%, respectively, in 2019. Both the regions are also likely to register strong rise; however, region Asia Pacific, which will register the fastest CAGR of 6X.X3% from 2020 to 2027 due to the growing industrialization & urbanization of emerging economies like India and China.
Global surge arrester market Dynamics:
Surge arresters are used to protect electronic appliances and machineries from damages caused due to sudden voltage surges. Its market is consistently growing and hence it becomes very necessary to study market dynamics thoroughly. Analysts at MMR have studied and explained the dynamics in report, which helps reader to understand emerging market trends, drivers, restraints, opportunities, and challenges at global and regional level for the global surge arrester market.
The surge arresters are fitted on the conductors just before it enters the electrical equipment. The market is expected to grow during the forecast period due to the increasing demand for electronic appliances in households across the globe. The surge arresters market is mostly being driven due to the changing lifestyle of the working population and the increasing disposable income, which is generating a need for automated electronic products to save time & enjoy the comfort by reducing their household works.
Furthermore, the development of power plants in the emerging economies such as India and China, which will be generating energy by using renewable & natural sources such as sun, water and wind. The spreading awareness for need of renewable energy sources is also acting as a driver for growth of the market.
Besides, the rapid commercialization is also boosting the growth in electronic devices in order to reduce the manpower. On other hand, the introduction of electronic devices is also contributing to the high maintenance costs to take care of device damages due to short circuit. This is supplementing the growth of surge arresters in the commercial sector.
Conversely, high cost is required for the installation of surge arresters, which is restraining the market growth. Additionally, the type of surge arresters vary from one device to another depending on the voltage ranges, which again involves high costing for multiple installations, such factors are hindering the growth of global surge arresters market.
Global surge arrester market is studied by Various Segments:
The analysts at Maximize Market Research have done an extensive research for the global surge arrester market and provides the report with detail study of the market by various segments and by region. All segments of global surge arrester market have been analyzed in terms of global revenue (USD Million). The segment high voltage surge arrester is dominating the market as it is largely used for protecting the heavy machineries and equipment in several industries, around the globe.
Industrial Application to Remain Leading Consumer of Surge Arresters
Surge arresters are widely utilized in various commercial, industrial, transport and household applications. Among these, the industrial end use segment contributes the largest revenue share due to the rising industrialization across the world and expected to be the leader in application’s segment of surge arresters. This segment accounted for a share of nearly XX% in the overall revenue generated in this market, amounting to a value of US$ XX.XX Mn in 2019.
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End Use in industrial segment is anticipated to register a significant rise during the period from 2020 to 2027. Other application segments are also projected to experience a rise in the application of surge arresters over the forecast period.
Scope of the Report Global Surge Arrester Market
Global Surge Arrester Market, By Type
Global Surge Arrester Market, By Class
• Distribution Class
• Intermediate Class
• Station Class
Global Surge Arrester Market, By Voltage
• Medium Voltage
• High Voltage
• Extra-High Voltage
Global Surge Arrester Market, By End User
Global Surge Arrester Market, By Geography
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players in Global Surge Arrester Market
• Siemens AG,
• ABB Ltd,
• Emerson Electric,
• Eaton Corporation Plc,
• Schneider Electric S.E.,
• Mitsubishi Electric Corporation,
• Raycap Corporation,
• Crompton Greaves,
• General Electric,
• Legrand S.A.
MAJOR TOC OF THE REPORT
Chapter One: Surge Arrester Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Surge Arrester Market Competition, by Players
Chapter Four: Global Surge Arrester Market Size by Regions
Chapter Five: North America Surge Arrester Revenue by Countries
Chapter Six: Europe Surge Arrester Revenue by Countries
Chapter Seven: Asia-Pacific Surge Arrester Revenue by Countries
Chapter Eight: South America Surge Arrester Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Surge Arrester by Countries
Chapter Ten: Global Surge Arrester Market Segment by Type
Chapter Eleven: Global Surge Arrester Market Segment by Application
Chapter Twelve: Global Surge Arrester Market Size Forecast (2019-2026)
Browse Full Report with Facts and Figures of Surge Arrester Market Report at: https://www.maximizemarketresearch.com/market-report/global-surge-arrester-market/25312/
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: MAXIMIZE MARKET RESEARCH PVT. LTD.
Email: [email protected]
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