Market
Scenario
Surge
Arrester is device that protects electrical power system from damage caused by
lightning and switching effects. It is sometimes known as surge protection
device to protect equipment in transmission of power and in distribution
system. The global surge arrester market is expected to grow at ~ 5.5% CAGR in
the projected years. Globally, there is an increase in demand of power
generation, expansion of smart grid network, increasing investment in
transmission and distribution facilities, growing industrialization and
development in power infrastructure.
The
factor that restrains the global surge arrester market is growing competition
from unorganized power sector and cost of installation of arrester, especially
in developing nations. However, having an edge over rivals and improvements are
expected to help players deal with the situation.
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Key
Players
The
major key player in global surge arrester markets are Siemens (Germany), GE Oil
& Gas (U.S.), Hubbell (U.S.), Schneider Electric (France), Mitsubishi
Electric (Japan), CG Power (India), NGK Insulators (Japan), ABB (Switzerland),
Eaton (Republic of Ireland), Legrand S.A (France), Emerson Electric (U.S.),
HAKEL spol. S r. (Czech Republic), Vertiv. (U.S.), TE Connectivity
(Switzerland), Lamco (India), leviton manufacturing (U.S.), Raycap Corporation
SA (U.S.), etc.
Segments
The
global surge arrester market is segmented by type as polymeric & porcelain,
by voltage as low, medium & high, by class as distribution, intermediate
& station, by application as industrial, commercial & residential, and
by region as North America, Asia Pacific, Middle East, South America, and
Africa).
Based
on applications, the global surge arrester market is segmented into industrial,
commercial and residential. Among them, revenue generation from commercial
sector is projected to expand at a CAGR of approx. 8.50% during the forecast
period.
Based
on regions, North America and Asia Pacific together account for more than
~15.0% share of the total in application-based surge arresters, globally,
due to expressive infrastructure development in the power sector. Countries
like China and India from Asia Pacific region have new projects to develop and still
have potential to reach at the surge.
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Regional Analysis
Countries
such as China and India in the Asia Pacific region witness the developments of
various power plants for the generation of energy by renewable sources such as
tidal, wind, and solar. This reason is one of the main drivers of the surge
arrester market in Asia Pacific with a CAGR of 5.1% during the forecast period.
Among
from regions, North America, owing to the technical developments accounted for
about 26% of the global market in 2017, which is the largest share. Asia
Pacific surge arrester market, however, is projected to have the highest growth
during the forecast period, at a CAGR higher than 10.0%, which is a positive
sign for the market, especially the emerging markets.
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