Surge Arrester Market

Surge Arrester Market by Type (Polymeric, Porcelain), Voltage (Medium, High, Extra High), Class (Distribution, Intermediate, Station), End-User (Utilities, Industries, Transportation), Application and Region - Global Forecast to 2025

Report Code: EP 6148 Jan, 2021, by marketsandmarkets.com

[233 Pages Report] 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 escalating demand for electricity in APAC, as well as the increased emphasis on boosting renewable energy installed capacity, are prompting utilities to invest in electricity transmission and distribution networks, as well as electrification projects. Surge Arrester market demand is predicted to rise as a result of these investments, as well as efforts to replace old electric infrastructure in North America and Europe.

Surge Arrester Market

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Surge Arrester Market Dynamics

Drivers:Increasing investments in T&D networks to drive demand for surge arresters

Surge arresters are essential components required for the protection of electrical equipment in transmission and distribution networks. They are installed in substations, transmission lines, and other parts of electrical networks. One of the prime factors driving the surge arrester market is increasing investments in transmission & distribution (T&D) networks. Expansion and upgrade of T&D networks have a direct impact on the market growth. According to IEA World Energy Outlook 2020, USD 2.3 trillion was invested globally in the electric network during 2012–2019, with an average annual investment of about USD 283 billion during the same period. Investment in electrical networks is necessary to reliably meet the towering electricity demands. With the growing electrification of traditionally non-electric sectors, such as transportation, due to the adoption of electric vehicles, the demand for electricity is expected to further augment during the forecast period. The rising number of electrification projects in China and India and network expansions to support renewable energy integration in the US, Europe, and other developed countries are likely to translate into heightened demand for surge arresters in the coming years.

Restraints: Presence of gray market for surge arresters

Major surge arrester manufacturers are facing tough competition from unorganized players in the market that are supplying cheap and low-quality products without authorization. These small local players sell goods manufactured in-house without proper authorization. These market players from the unorganized sector overpower the big players in terms of price competitiveness and the local supply networks maintained by them, which are difficult for global players to achieve. The growth in surge arrester sales in the gray market degrades the brand names of the market leaders as cheap-quality goods are sold under their names. The increasing sales by local players in the gray market reduce the opportunities for global players to increase their revenues

Restraints: Increasing investments in renewable energy projects and smart grids are likely to drive demand for surge arresters

Investments in renewable energy technologies have risen on a global scale in the last decade. Rapidly declining installation costs due to fast-paced technological advancements and multiple countries shifting towards green energy power generation are aiding the growth of renewable energy technologies. In new renewable energy projects, surge arresters are installed at points of connection and in substations. According to the Global Trends in Renewable Energy Investment 2020, the global annual investment in renewable energy has nearly doubled from 2009 to 2019. The global investment in renewable energy grew from USD 147 billion in 2009 to USD 282 billion in 2019, at a CAGR of 6.8% during that period. According to IEA World Energy Outlook, 2020 report,  the global wind, and solar PV installed capacity is expected to increase from 1,226 GW to 2,349 GW by 2025, growing at a CAGR of 11.4% during that period. In grid-connected renewable energy plants, a substation is erected to facilitate grid connection. Surge arresters find application in these substations. Globally, the share of renewable energy generation is increasing rapidly, and increased investment in these renewable energy projects present opportunities for surge arrester manufacturers.

Challenges: Long lead times and delays in projects pose challenges to surge arrester market growth

Power transmission and distribution projects are time-consuming and have long lead times. The larger the scale of project, the longer the duration of the transmission and distribution project. Factors such as government interventions, environmental clearances, and lengthy government approval procedures result in delays in the implementation of grid expansion projects. These delays extend the time taken to implement the grid expansion projects and affect the demand for surge arresters. The delays in grid expansion projects make production planning very challenging for surge arrester manufacturers as most extra-high-voltage surge arresters are manufactured according to the specific demands of the buyers.

Market Interconnection

Surge Arrester Market   by Interconnection

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The polymeric surge arrester segment is expected to have the highest growth rate, during the forecast period

The surge arrester market is segmented, by type, into polymeric and porcelain. The polymeric segment is expected to lead the market from 2020 to 2025. Due to their reduced weight, ease of maintenance, higher performance in contaminated environments, and high energy handling capability, polymeric insulators are becoming more popular.

The GIS segment by application is expected to be the fastest growing market during the forecast period

The surge arrester market, by application, is segmented into AIS, and GIS. The GIS application segment is projected to highest growth rate in the forecast period of 2020 to 2025, due to growing installation of GIS in urban areas where space is the main constraint.

The utilities segment is expected to lead the surge arrester market by end user throughout the forecast period

The market, by end-user, is segmented into utilities, industries, and transportation. Due to the sheer magnitude of an electrical network controlled by utilities compared to industrial and transportation electric infrastructure, utilities are the most common end-user of surge arresters.

Asia Pacific is expected to be the largest market during the forecast period

In this report, the surge arrester market has been analysed with respect to five regions, namely, Asia Pacific, North America, Europe, Middle East & Africa, and South America. Asia Pacific is estimated to be the largest market from 2020 to 2025. The growing need to boost renewable power generation capacity, as well as rising electricity demand, urge utilities in these countries to invest in transmission and distribution infrastructure. The market in Asia Pacific is growing due to increased investments in EHV and UHV transmission projects in China and India.

Surge Arrester Market   by Region

Key Market Players

Some of the prominent key players profiled in this report are Hitachi ABB (Switzerland), Siemens Energy (Germany), General Electric (US), Eaton (Ireland), and Hubbell (US)

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Scope of the Report

Report Metric

Details

Market size available for years

2018–2025

Base year considered

2019

Forecast period

2020–2025

Forecast units

Value (USD)

Segments covered

Type, Application, End User, Voltage, Class, and Region

Geographies covered

Asia Pacific, North America, Europe, Middle East & Africa, South America

Companies covered

Hitachi ABB (Switzerland), Siemens Energy (Germany), General Electric (US), Eaton (Ireland), Hubbell (US), CG Power (India), Schneider Electric (France), Meidensha (Japan), Mitsubishi Electric (Japan), and Toshiba (Japan)

This research report categorizes the surge arrester market by type, application, end user, voltage, class and region.

The market, by type, has been segmented as follows:

  • Polymeric
  • porcelain

The market, by end user, has been segmented as follows:

  • Utilities
  • Industries
  • Transportation

The market, by application, has been segmented as follows:

  • AIS
  • GIS

The market, by voltage, has been segmented as follows:

  • Medium Voltage
  • High Voltage
  • Extra High Voltage

The market, by class, has been segmented as follows:

  • Distribution Class
  • Intermediate Class
  • Station Class

The market, by region, has been segmented as follows:

  • Asia Pacifc
  • North America
  • Europe
  • Middle East & Africa
  • South America

Recent Developments

  • In November 2020, Hitachi ABB Power Grids opened a new surge arrester factory in Xiamen, China, which incorporates the latest advanced manufacturing processes and is expected to support China's development towards a sustainable future.
  • In June 2020, Siemens Energy won a contract from the Iraqi Ministry of Electricity for the design, construction, equipment supply, and commissioning of the 400 kV Al Hamudhia substation.
  • In April 2020, Hitachi ABB Power Grids signed a 5-year framework agreement with one of the largest utilities in south America to supply gas-insulated switchgear (GIS), air-insulated switchgear (AIS), circuit breakers, instrument transformers, shunt reactors, and hybrid modules.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 32)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
           1.2.1 SURGE ARRESTER MARKET: INCLUSIONS AND EXCLUSIONS
                    TABLE 1 MARKET, BY TYPE: INCLUSIONS AND EXCLUSIONS
                    TABLE 2 MARKET, BY VOLTAGE: INCLUSIONS AND EXCLUSIONS
                    TABLE 3 MARKET, BY APPLICATION: INCLUSIONS AND EXCLUSIONS
                    TABLE 4 MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 GEOGRAPHIC SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 38)
    2.1 RESEARCH DATA
           FIGURE 1 SURGE ARRESTER MARKET: RESEARCH DESIGN
    2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    2.2.2.1 Key data from primary sources
                    2.2.2.2 Breakdown of primaries
    2.3 SCOPE
           FIGURE 2 MAIN METRICS CONSIDERED WHILE CONSTRUCTING AND ASSESSING  DEMAND FOR SURGE ARRESTERS
    2.4 MARKET SIZE ESTIMATION
           2.4.1 DEMAND-SIDE ANALYSIS
                    FIGURE 3 SURGE ARRESTERS MARKET: REGION-WISE ANALYSIS
                    2.4.1.1 Calculation for demand-side analysis
                    2.4.1.2 Key assumptions while calculating demand-side market size
           2.4.2 SUPPLY-SIDE ANALYSIS
                    FIGURE 4 SURGE ARRESTERS MARKET: SUPPLY-SIDE ANALYSIS
                    2.4.2.1 Calculations for supply-side analysis
                               FIGURE 5 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF SURGE ARRESTERS
                    2.4.2.2 Assumptions while calculating supply-side market size
                               FIGURE 6 COMPANY REVENUE ANALYSIS, 2019
           2.4.3 FORECAST

3 EXECUTIVE SUMMARY (Page No. - 50)
    3.1 SCENARIO ANALYSIS
           FIGURE 7 SCENARIO ANALYSIS: SURGE ARRESTER MARKET, 2018–2025
           3.1.1 OPTIMISTIC SCENARIO
           3.1.2 REALISTIC SCENARIO
           3.1.3 PESSIMISTIC SCENARIO
                    TABLE 5 SURGE ARRESTERS MARKET SNAPSHOT
                    FIGURE 8 POLYMERIC SEGMENT TO LEAD MARKET, BY TYPE, DURING FORECAST PERIOD
                    FIGURE 9 AIS APPLICATION TO HOLD LARGER SIZE OF MARKET IN 2025
                    FIGURE 10 UTILITIES TO ACCOUNT FOR LARGEST SIZE OF MARKET,  BY END USER, THROUGHOUT FORECAST PERIOD
                    FIGURE 11 MEDIUM VOLTAGE SEGMENT TO COMMAND MARKET,  BY VOLTAGE, FROM 2020 TO 2025
                    FIGURE 12 DISTRIBUTION CLASS TO LEAD MARKET DURING  FORECAST PERIOD
                    FIGURE 13 NORTH AMERICA TO EXHIBIT HIGHEST CAGR IN MARKET DURING 2020–2025

4 PREMIUM INSIGHTS (Page No. - 58)
    4.1 ATTRACTIVE OPPORTUNITIES IN SURGE ARRESTER MARKET
           FIGURE 14 RENEWABLE ENERGY ADOPTION AND ELECTRIFICATION OF TRANSPORTATION SECTOR ARE EXPECTED TO DRIVE MARKET GROWTH,  2020–2025
    4.2 SURGE ARRESTERS MARKET, BY REGION
           FIGURE 15 NORTH AMERICAN MARKET, BY REGION, TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    4.3 MARKET, BY TYPE
           FIGURE 16 POLYMERIC SEGMENT DOMINATED MARKET, BY TYPE,  IN 2019
    4.4 MARKET, BY APPLICATION
           FIGURE 17 AIS APPLICATIONS DOMINATED MARKET, BY APPLICATION,  IN 2019
    4.5 MARKET, BY END USER
           FIGURE 18 UTILITIES HELD LARGEST SHARE OF MARKET, BY END USER, IN 2019
    4.6 MARKET, BY VOLTAGE
           FIGURE 19 MEDIUM-VOLTAGE SURGE ARRESTERS CAPTURED LARGEST MARKET SHARE IN 2019
    4.7 MARKET, BY CLASS
           FIGURE 20 DISTRIBUTION CLASS LED MARKET IN 2019

5 MARKET OVERVIEW (Page No. - 62)
    5.1 INTRODUCTION
    5.2 COVID-19 HEALTH ASSESSMENT
           FIGURE 21 COVID-19 GLOBAL PROPAGATION
           FIGURE 22 COVID-19 PROPAGATION IN SELECTED COUNTRIES
    5.3 GLOBAL ROAD TO RECOVERY FROM COVID-19
           FIGURE 23 GLOBAL RECOVERY ROAD FROM COVID-19 FROM 2020 TO 2021
    5.4 COVID-19 ECONOMIC ASSESSMENT
           FIGURE 24 REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020
    5.5 MARKET DYNAMICS
           FIGURE 25 SURGE ARRESTER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.5.1 DRIVERS
                    5.5.1.1 Increasing investments in T&D networks
                               FIGURE 26 ELECTRICITY NETWORKS INVESTMENT, 2012–2019 (USD BILLION)
                    5.5.1.2 Growing demand for reliable and continuous power supply
                    5.5.1.3 Increasing focus on replacing aging equipment in power infrastructure
                               FIGURE 27 US ELECTRICITY NETWORKS INVESTMENT, 2012–2019 (USD BILLION)
           5.5.2 RESTRAINTS
                    5.5.2.1 Presence of gray market for surge arresters
           5.5.3 OPPORTUNITIES
                    5.5.3.1 Increasing investments in renewable energy projects and smart grids
                               FIGURE 28 GLOBAL INVESTMENTS IN RENEWABLE ENERGY CAPACITY, 2009–2019 (USD BILLION)
                    5.5.3.2 Growing investments in cross-border power transmission projects
           5.5.4 CHALLENGES
                    5.5.4.1 Long lead times and delays in projects pose challenges to surge arresters market growth
                    5.5.4.2 Supply chain disruptions due to COVID-19
    5.6 YC-SHIFT
           5.6.1 REVENUE SHIFT AND NEW REVENUE POCKETS
                    FIGURE 29 REVENUE SHIFT FOR SURGE ARRESTERS
    5.7 MARKET MAP
           FIGURE 30 MARKET MAP FOR SURGE ARRESTERS
    5.8 AVERAGE SELLING PRICE TREND
           FIGURE 31 AVERAGE SELLING PRICE OF SURGE ARRESTERS
    5.9 SUPPLY CHAIN ANALYSIS
           FIGURE 32 SURGE ARRESTER 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
           TABLE 6 COUNTRY-WISE IMPORT, 2018 AND 2019 (IN USD)
           TABLE 7 COUNTRY-WISE EXPORT, 2018 AND 2019 (IN USD)
    5.12 SURGE ARRESTERS: CODES AND REGULATIONS
    5.13 CASE STUDY ANALYSIS
           5.13.1 USE OF SURGE ARRESTERS BY HYDRO ONE
                    5.13.1.1 Problem statement
                    5.13.1.2 Solution
    5.14 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 33 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 (Page No. - 79)
    6.1 INTRODUCTION
           FIGURE 34 POLYMERIC SEGMENT ACCOUNTED FOR LARGER SHARE OF MARKET, IN TERMS OF VALUE, IN 2019
           TABLE 8 SURGE ARRESTERS MARKET, BY TYPE, 2015–2019 (USD MILLION)
           TABLE 9 MARKET, BY TYPE, 2020–2025 (USD MILLION)
           TABLE 10 MARKET, BY TYPE, 2015–2019 (THOUSAND UNITS)
           TABLE 11 MARKET, BY TYPE, 2020–2025 (THOUSAND UNITS)
    6.2 POLYMERIC
           6.2.1 EASY INSTALLATION AND SUPERIOR PERFORMANCE UNDER POLLUTED CONDITIONS BOOST DEMAND FOR POLYMERIC SURGE ARRESTERS GLOBALLY
                    TABLE 12 POLYMERIC: MARKET, BY REGION, 2015–2019 (USD MILLION)
                    TABLE 13 POLYMERIC: MARKET, BY REGION, 2020–2025 (USD MILLION)
    6.3 PORCELAIN
           6.3.1 LOW PRICE, HIGH MECHANICAL STRENGTH, AND HIGH STABILITY CONTRIBUTE TO SUSTAINED USE OF PORCELAIN SURGE ARRESTERS
                    TABLE 14 PORCELAIN: MARKET, BY REGION, 2015–2019 (USD MILLION)
                    TABLE 15 PORCELAIN: MARKET, BY REGION, 2020–2025 (USD MILLION)

7 SURGE ARRESTER MARKET, BY APPLICATION (Page No. - 85)
    7.1 INTRODUCTION
           FIGURE 35 AIS SEGMENT ACCOUNTED FOR LARGER SHARE OF MARKET, IN TERMS OF VALUE, IN 2019
           TABLE 16 MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
           TABLE 17 MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
           TABLE 18 MARKET, BY APPLICATION, 2015–2019 (THOUSAND UNITS)
           TABLE 19 MARKET, BY APPLICATION, 2020–2025 (THOUSAND UNITS)
    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
                    TABLE 20 GIS: MARKET, BY REGION, 2015–2019 (USD MILLION)
                    TABLE 21 GIS: MARKET, BY REGION, 2020–2025 (USD MILLION)
    7.3 AIS
           7.3.1 GROWTH OF AIS DRIVEN BY THEIR LOW INSTALLATION COST AND EASY MAINTENANCE
                    TABLE 22 AIS: MARKET, BY REGION, 2015–2019 (USD MILLION)
                    TABLE 23 AIS: MARKET, BY REGION, 2020–2025 (USD MILLION)

8 SURGE ARRESTER MARKET, BY END USER (Page No. - 91)
    8.1 INTRODUCTION
           FIGURE 36 UTILITIES SEGMENT ACCOUNTED FOR LARGEST SHARE OF MARKET, IN TERMS OF VALUE, IN 2019
           TABLE 24 SURGE ARRESTERS MARKET, BY END USER, 2015–2019 (USD MILLION)
           TABLE 25 MARKET, BY END USER, 2020–2025 (USD MILLION)
           TABLE 26 MARKET, BY END USER, 2015–2019 (THOUSAND UNITS)
           TABLE 27 MARKET, BY END USER, 2020–2025 (THOUSAND UNITS)
    8.2 UTILITIES
           8.2.1 INCREASED REQUIREMENT FOR RELIABLE AND CONTINUOUS POWER SUPPLY TO FUEL DEMAND FOR SURGE ARRESTERS
                    TABLE 28 UTILITIES: MARKET, BY REGION, 2015–2019 (USD MILLION)
                    TABLE 29 UTILITIES: MARKET, BY REGION, 2020–2025 (USD MILLION)
    8.3 INDUSTRIES
           8.3.1 ESCALATED NEED FOR UNINTERRUPTED POWER DELIVERY AND PROTECTION FROM EXTERNAL SURGES TO BOOST DEMAND FOR SURGE ARRESTERS
                    TABLE 30 INDUSTRIES: MARKET, BY REGION, 2015–2019 (USD MILLION)
                    TABLE 31 INDUSTRIES: MARKET, BY REGION, 2020–2025 (USD MILLION)
    8.4 TRANSPORTATION
           8.4.1 HUGE INVESTMENTS IN RAILWAY ELECTRIFICATION AND NEW METRO RAIL PROJECTS TO FOSTER MARKET GROWTH
                    TABLE 32 TRANSPORTATION: MARKET, BY REGION,2015–2019 (USD MILLION)
                    TABLE 33 TRANSPORTATION: MARKET, BY REGION, 2020–2025 (USD MILLION)

9 SURGE ARRESTER MARKET, BY VOLTAGE (Page No. - 98)
    9.1 INTRODUCTION
           FIGURE 37 MEDIUM VOLTAGE SEGMENT ACCOUNTED FOR LARGER SHARE OF MARKET, IN TERMS OF VALUE, IN 2019
           TABLE 34 SURGE ARRESTERS MARKET, BY VOLTAGE, 2015–2019 (USD MILLION)
           TABLE 35 MARKET, BY VOLTAGE, 2020–2025 (USD MILLION)
           TABLE 36 MARKET, BY VOLTAGE, 2015–2019 (THOUSAND UNITS)
           TABLE 37 MARKET, BY VOLTAGE, 2020–2025 (THOUSAND UNITS)
    9.2 MEDIUM VOLTAGE
           9.2.1 INVESTMENTS IN GRID MODIFICATION AND ELECTRIFICATION PROJECTS TO DRIVE GLOBAL DEMAND FOR MEDIUM-VOLTAGE SURGE ARRESTERS
                    TABLE 38 MEDIUM VOLTAGE: MARKET, BY REGION, 2015–2019 (USD MILLION)
                    TABLE 39 MEDIUM VOLTAGE: MARKET, BY REGION, 2020–2025 (USD MILLION)
    9.3 HIGH VOLTAGE
           9.3.1 T&D INVESTMENTS IN ASIA PACIFIC TO MEET GROWING ENERGY DEMAND LIKELY TO ACCELERATE MARKET GROWTH
                    TABLE 40 HIGH VOLTAGE: MARKET, BY REGION, 2015–2019 (USD MILLION)
                    TABLE 41 HIGH VOLTAGE: MARKET, BY REGION, 2020–2025 (USD MILLION)
    9.4 EXTRA HIGH VOLTAGE
           9.4.1 FUNDING FOR UHV AND EHV POWER LINES IN CHINA AND INDIA TO PROPEL MARKET GROWTH
                    TABLE 42 EXTRA HIGH VOLTAGE: MARKET, BY REGION,  2015–2019 (USD MILLION)
                    TABLE 43 EXTRA HIGH VOLTAGE: MARKET, BY REGION,  2020–2025 (USD MILLION)

10 SURGE ARRESTER MARKET, BY CLASS (Page No. - 105)
     10.1 INTRODUCTION
             FIGURE 38 DISTRIBUTION CLASS ACCOUNTED FOR LARGEST SHARE OF MARKET, IN TERMS OF VALUE, IN 2019
             TABLE 44 SURGE ARRESTERS MARKET, BY CLASS, 2015–2019 (USD MILLION)
             TABLE 45 MARKET, BY CLASS, 2020–2025 (USD MILLION)
             TABLE 46 MARKET, BY CLASS, 2015–2019 (THOUSAND UNITS)
             TABLE 47 MARKET, BY CLASS, 2020–2025 (THOUSAND UNITS)
     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
                        TABLE 48 DISTRIBUTION CLASS: MARKET, BY REGION,  2015–2019 (USD MILLION)
                        TABLE 49 DISTRIBUTION CLASS: MARKET, BY REGION,  2020–2025 (USD MILLION)
     10.3 INTERMEDIATE CLASS
             10.3.1 SIGNIFICANT INVESTMENTS IN RENEWABLE ENERGY PROJECTS TO BOOST DEMAND FOR INTERMEDIATE-CLASS SURGE ARRESTERS
                        TABLE 50 INTERMEDIATE CLASS: MARKET, BY REGION,  2015–2019 (USD MILLION)
                        TABLE 51 INTERMEDIATE CLASS: MARKET, BY REGION,  2020–2025 (USD MILLION)
     10.4 STATION CLASS
             10.4.1 SUBSTANTIAL INVESTMENTS IN LARGE-SCALE EHV AND UHV PROJECTS TO BOOST DEMAND FOR STATION-CLASS SURGE ARRESTERS
                        TABLE 52 STATION CLASS: MARKET, BY REGION, 2015–2019 (USD MILLION)
                        TABLE 53 STATION CLASS: MARKET, BY REGION, 2020–2025 (USD MILLION)

11 SURGE ARRESTER MARKET, BY REGION (Page No. - 112)
     11.1 INTRODUCTION
             FIGURE 39 NORTH AMERICA TO WITNESS HIGHEST CAGR IN MARKET FROM 2020 TO 2025
             FIGURE 40 SURGE ARRESTERS MARKET SHARE IN TERMS OF VALUE, BY REGION, 2019
             TABLE 54 MARKET, BY REGION, 2015–2019 (USD MILLION)
             TABLE 55 MARKET, BY REGION, 2020–2025 (USD MILLION)
             TABLE 56 MARKET, BY REGION, 2015–2019 (THOUSAND UNITS)
             TABLE 57 MARKET, BY REGION, 2020–2025 (THOUSAND UNITS)
     11.2 NORTH AMERICA
             11.2.1 IMPACT OF COVID-19 ON MARKET IN NORTH AMERICA
                        TABLE 58 NORTH AMERICA: SURGE ARRESTER MARKET, SCENARIO ANALYSIS,  2018–2025 (USD MILLION)
                        FIGURE 41 NORTH AMERICA: MARKET SCENARIO ANALYSIS
                        FIGURE 42 SNAPSHOT: MARKET IN NORTH AMERICA
             11.2.2 BY TYPE
                        TABLE 59 NORTH AMERICA: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                        TABLE 60 NORTH AMERICA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
             11.2.3 BY APPLICATION
                        TABLE 61 NORTH AMERICA: MARKET, BY APPLICATION,  2015–2019 (USD MILLION)
                        TABLE 62 NORTH AMERICA: MARKET, BY APPLICATION,  2020–2025 (USD MILLION)
             11.2.4 BY END USER
                        TABLE 63 NORTH AMERICA: MARKET, BY END USER, 2015–2019 (USD MILLION)
                        TABLE 64 NORTH AMERICA: MARKET, BY END USER, 2020–2025 (USD MILLION)
             11.2.5 BY VOLTAGE
                        TABLE 65 NORTH AMERICA: MARKET, BY VOLTAGE, 2015–2019 (USD MILLION)
                        TABLE 66 NORTH AMERICA: MARKET, BY VOLTAGE, 2020–2025 (USD MILLION)
             11.2.6 BY CLASS
                        TABLE 67 NORTH AMERICA: MARKET, BY CLASS, 2015–2019 (USD MILLION)
                        TABLE 68 NORTH AMERICA: MARKET, BY CLASS, 2020–2025 (USD MILLION)
             11.2.7 BY COUNTRY
                        TABLE 69 NORTH AMERICA: MARKET, BY COUNTRY, 2015–2019 (USD MILLION)
                        TABLE 70 NORTH AMERICA: MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
                        11.2.7.1 US
                                     11.2.7.1.1 Large-scale investments to improve reliability and capacity of T&D networks to propel market growth in US
                                     11.2.7.1.2 By type
                                                    FIGURE 71 US: SURGE ARRESTER MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 72 US: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.2.7.1.3 By application
                                                    TABLE 73 US: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 74 US: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.2.7.2 Canada
                                     11.2.7.2.1 Strong government initiative, coupled with significant investments in refurbishing existing electricity infrastructure, to support market growth
                                     11.2.7.2.2 By type
                                                    TABLE 75 CANADA: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 76 CANADA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.2.7.2.3 By application
                                                    TABLE 77 CANADA: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 78 CANADA: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.2.7.3 Mexico
                                     11.2.7.3.1 Increased T&D investments to meet rising electricity requirement driving demand for surge arresters
                                     11.2.7.3.2 By type
                                                    TABLE 79 MEXICO: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 80 MEXICO: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.2.7.3.3 By application
                                                    TABLE 81 MEXICO: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 82 MEXICO: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
     11.3 ASIA PACIFIC
             11.3.1 IMPACT OF COVID-19 ON MARKET IN ASIA PACIFIC
                        TABLE 83 ASIA PACIFIC: SURGE ARRESTER MARKET, SCENARIO ANALYSIS,  2018–2025 (USD MILLION)
                        FIGURE 43 ASIA PACIFIC: MARKET SCENARIO ANALYSIS
                        FIGURE 44 SNAPSHOT: MARKET IN ASIA PACIFIC
             11.3.2 BY TYPE
                        TABLE 84 ASIA PACIFIC: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                        TABLE 85 ASIA PACIFIC: MARKET, BY TYPE, 2020–2025 (USD MILLION)
             11.3.3 BY APPLICATION
                        TABLE 86 ASIA PACIFIC: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                        TABLE 87 ASIA PACIFIC: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
             11.3.4 BY END USER
                        TABLE 88 ASIA PACIFIC: MARKET, BY END USER, 2015–2019 (USD MILLION)
                        TABLE 89 ASIA PACIFIC: MARKET, BY END USER, 2020–2025 (USD MILLION)
             11.3.5 BY VOLTAGE
                        TABLE 90 ASIA PACIFIC: MARKET, BY VOLTAGE, 2015–2019 (USD MILLION)
                        TABLE 91 ASIA PACIFIC: MARKET, BY VOLTAGE, 2020–2025 (USD MILLION)
             11.3.6 BY CLASS
                        TABLE 92 ASIA PACIFIC: MARKET, BY CLASS, 2015–2019 (USD MILLION)
                        TABLE 93 ASIA PACIFIC: MARKET, BY CLASS, 2020–2025 (USD MILLION)
             11.3.7 BY COUNTRY
                        TABLE 94 ASIA PACIFIC: MARKET, BY COUNTRY, 2015–2019 (USD MILLION)
                        TABLE 95 ASIA PACIFIC: MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
                        11.3.7.1 China
                                     11.3.7.1.1 Increasing investments in renewable energy and UHV transmission projects to drive market growth in China
                                     11.3.7.1.2 By type
                                                    TABLE 96 CHINA: SURGE ARRESTER MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 97 CHINA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.3.7.1.3 By application
                                                    TABLE 98 CHINA: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 99 CHINA: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.3.7.2 India
                                     11.3.7.2.1 Surging need for strong transmission infrastructure to meet bulk power evacuation requirement to boost demand for surge arresters
                                     11.3.7.2.2 By type
                                                    TABLE 100 INDIA: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 101 INDIA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.3.7.2.3 By application
                                                    TABLE 102 INDIA: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 103 INDIA: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.3.7.3 Australia
                                     11.3.7.3.1 Rising focus on increasing power generation capacity, along with substantial investment in expansion of T&D networks and transportation projects, to push market growth
                                     11.3.7.3.2 By type
                                                    TABLE 104 AUSTRALIA: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 105 AUSTRALIA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.3.7.3.3 By application
                                                    TABLE 106 AUSTRALIA: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 107 AUSTRALIA: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.3.7.4 Japan
                                     11.3.7.4.1 Growing number of projects pertaining to power transmission and distribution networks and renewable energy generation to create need for adoption of surge arresters 
                                     11.3.7.4.2 By type
                                                    TABLE 108 JAPAN: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 109 JAPAN: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.3.7.4.3 By application
                                                    TABLE 110 JAPAN: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 111 JAPAN: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.3.7.5 South Korea
                                     11.3.7.5.1 Planned transmission and distribution network investments to fuel market growth in South Korea
                                     11.3.7.5.2 By type
                                                    TABLE 112 SOUTH KOREA: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 113 SOUTH KOREA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.3.7.5.3 By application
                                                    TABLE 114 SOUTH KOREA: MARKET, BY APPLICATION,  2015–2019 (USD MILLION)
                                                    TABLE 115 SOUTH KOREA: MARKET, BY APPLICATION,  2020–2025 (USD MILLION)
                        11.3.7.6 Rest of Asia Pacific
                                     11.3.7.6.1 By type
                                                    TABLE 116 REST OF ASIA PACIFIC: MARKET, BY TYPE,  2015–2019 (USD MILLION)
                                                    TABLE 117 REST OF ASIA PACIFIC: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.3.7.6.2 By application
                                                    TABLE 118 REST OF ASIA PACIFIC: MARKET, BY APPLICATION,  2015–2019 (USD MILLION)
                                                    TABLE 119 REST OF ASIA PACIFIC: MARKET, BY APPLICATION,  2020–2025 (USD MILLION)
     11.4 EUROPE
             11.4.1 IMPACT OF COVID-19 ON MARKET IN EUROPE
                        TABLE 120 EUROPE: SURGE ARRESTER MARKET, SCENARIO ANALYSIS, 2018–2025 (USD MILLION)
                        FIGURE 45 EUROPE: MARKET SCENARIO ANALYSIS
             11.4.2 BY TYPE
                        TABLE 121 EUROPE: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                        TABLE 122 EUROPE: MARKET, BY TYPE, 2020–2025 (USD MILLION)
             11.4.3 BY APPLICATION
                        TABLE 123 EUROPE: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                        TABLE 124 EUROPE: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
             11.4.4 BY END USER
                        TABLE 125 EUROPE: MARKET, BY END USER, 2015–2019 (USD MILLION)
                        TABLE 126 EUROPE: MARKET, BY END USER, 2020–2025 (USD MILLION)
             11.4.5 BY VOLTAGE
                        TABLE 127 EUROPE: MARKET, BY VOLTAGE, 2015–2019 (USD MILLION)
                        TABLE 128 EUROPE: MARKET, BY VOLTAGE, 2020–2025 (USD MILLION)
             11.4.6 BY CLASS
                        TABLE 129 EUROPE: MARKET, BY CLASS, 2015–2019 (USD MILLION)
                        TABLE 130 EUROPE: MARKET, BY CLASS, 2020–2025 (USD MILLION)
             11.4.7 BY COUNTRY
                        TABLE 131 EUROPE: MARKET, BY COUNTRY, 2015–2019 (USD MILLION)
                        TABLE 132 EUROPE: MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
                        11.4.7.1 Germany
                                     11.4.7.1.1 Planned T&D investments to support renewable energy generation and cross-border power exchange to push market growth
                                     11.4.7.1.2 By type
                                                    TABLE 133 GERMANY: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 134 GERMANY: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.4.7.1.3 By application
                                                    TABLE 135 GERMANY: SURGE ARRESTER MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 136 GERMANY: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.4.7.2 Russia
                                     11.4.7.2.1 Substantial investments under new long-term development plan 2020–24 in Russia to create growth opportunity for surge arresters market
                                     11.4.7.2.2 By type
                                                    TABLE 137 RUSSIA: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 138 RUSSIA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.4.7.2.3 By application
                                                    TABLE 139 RUSSIA: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 140 RUSSIA: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.4.7.3 UK
                                     11.4.7.3.1 Increased investments in T&D networks to eliminate outages due to lightning surges in UK to drive market growth
                                     11.4.7.3.2 By type
                                                    TABLE 141 UK: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 142 UK: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.4.7.3.3 By application
                                                    TABLE 143 UK: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 144 UK: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.4.7.4 France
                                     11.4.7.4.1 Large-scale grid investments by RTE in France to fuel surge arresters market growth
                                     11.4.7.4.2 By type
                                                    TABLE 145 FRANCE: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 146 FRANCE: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.4.7.4.3 By application
                                                    TABLE 147 FRANCE: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 148 FRANCE: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.4.7.5 Rest of Europe
                                     11.4.7.5.1 By type
                                                    TABLE 149 REST OF EUROPE: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 150 REST OF EUROPE: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.4.7.5.2 By application
                                                    TABLE 151 REST OF EUROPE: MARKET, BY APPLICATION,  2015–2019 (USD MILLION)
                                                    TABLE 152 REST OF EUROPE: MARKET, BY APPLICATION,  2020–2025 (USD MILLION)
     11.5 MIDDLE EAST & AFRICA
             11.5.1 IMPACT OF COVID-19 ON MARKET IN MIDDLE EAST & AFRICA
                        TABLE 153 MIDDLE EAST & AFRICA: SURGE ARRESTER MARKET, SCENARIO ANALYSIS,  2018–2025 (USD MILLION)
                        FIGURE 46 MIDDLE EAST & AFRICA: MARKET SCENARIO ANALYSIS
             11.5.2 BY TYPE
                        TABLE 154 MIDDLE EAST & AFRICA: MARKET, BY TYPE,  2015–2019 (USD MILLION)
                        TABLE 155 MIDDLE EAST & AFRICA: MARKET, BY TYPE,  2020–2025 (USD MILLION)
             11.5.3 BY APPLICATION
                        TABLE 156 MIDDLE EAST & AFRICA: MARKET, BY APPLICATION,  2015–2019 (USD MILLION)
                        TABLE 157 MIDDLE EAST & AFRICA: MARKET, BY APPLICATION,  2020–2025 (USD MILLION)
             11.5.4 BY END USER
                        TABLE 158 MIDDLE EAST & AFRICA: MARKET, BY END USER,  2015–2019 (USD MILLION)
                        TABLE 159 MIDDLE EAST & AFRICA: MARKET, BY END USER, 2020–2025 (USD MILLION)
             11.5.5 BY VOLTAGE
                        TABLE 160 MIDDLE EAST & AFRICA: MARKET, BY VOLTAGE,  2015–2019 (USD MILLION)
                        TABLE 161 MIDDLE EAST & AFRICA: MARKET, BY VOLTAGE,  2020–2025 (USD MILLION)
             11.5.6 BY CLASS
                        TABLE 162 MIDDLE EAST & AFRICA: MARKET, BY CLASS,  2015–2019 (USD MILLION)
                        TABLE 163 MIDDLE EAST & AFRICA: MARKET, BY CLASS,  2020–2025 (USD MILLION)
             11.5.7 BY COUNTRY
                        TABLE 164 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2015–2019 (USD MILLION)
                        TABLE 165 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2020–2025 (USD MILLION)
                        11.5.7.1 Saudi Arabia
                                     11.5.7.1.1 Significant T&D investments in Saudi Arabia to meet increased demand for renewable energy and electricity to drive growth
                                     11.5.7.1.2 By type
                                                    TABLE 166 SAUDI ARABIA: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 167 SAUDI ARABIA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.5.7.1.3 By application
                                                    TABLE 168 SAUDI ARABIA: MARKET, BY APPLICATION,  2015–2019 (USD MILLION)
                                                    TABLE 169 SAUDI ARABIA: MARKET, BY APPLICATION,  2020–2025 (USD MILLION)
                        11.5.7.2 UAE
                                     11.5.7.2.1 Strong focus on completion of renewable energy projects to contribute most to market growth
                                     11.5.7.2.2 By type
                                                    TABLE 170 UAE: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 171 UAE: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.5.7.2.3 By application
                                                    TABLE 172 UAE: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 173 UAE: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.5.7.3 South Africa
                                     11.5.7.3.1 Huge investments in Transmission Ten-Year Plan proposed by Eskom foster market growth in South Africa
                                     11.5.7.3.2 By type
                                                    TABLE 174 SOUTH AFRICA: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 175 SOUTH AFRICA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.5.7.3.3 By application
                                                    TABLE 176 SOUTH AFRICA: MARKET, BY APPLICATION,  2015–2019 (USD MILLION)
                                                    TABLE 177 SOUTH AFRICA: MARKET, BY APPLICATION,  2020–2025 (USD MILLION)
           11.5.7.4 Nigeria
                                     11.5.7.4.1 Increased investments in T&D projects to meet growing electricity demand
                                     11.5.7.4.2 By type
                                                    TABLE 178 NIGERIA: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 179 NIGERIA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.5.7.4.3 By Application
                                                    TABLE 180 NIGERIA: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 181 NIGERIA: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.5.7.5 Rest of Middle East
                                     11.5.7.5.1 By type
                                                    TABLE 182 REST OF MIDDLE EAST & AFRICA: MARKET, BY TYPE,  2015–2019 (USD MILLION)
                                                    TABLE 183 REST OF MIDDLE EAST & AFRICA: MARKET, BY TYPE,  2020–2025 (USD MILLION)
                                     11.5.7.5.2 By application
                                                    TABLE 184 REST OF MIDDLE EAST: MARKET, BY APPLICATION,  2015–2019 (USD MILLION)
                                                    TABLE 185 REST OF MIDDLE EAST: MARKET, BY APPLICATION,  2020–2025 (USD MILLION)
     11.6 SOUTH AMERICA
             11.6.1 IMPACT OF COVID-19 ON MARKET IN  SOUTH AMERICA
                        TABLE 186 SOUTH AMERICA: SURGE ARRESTER MARKET, SCENARIO ANALYSIS,  2018–2025 (USD MILLION)
                        FIGURE 47 SOUTH AMERICA: MARKET SCENARIO ANALYSIS
             11.6.2 BY TYPE
                        TABLE 187 SOUTH AMERICA: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                        TABLE 188 SOUTH AMERICA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
             11.6.3 BY APPLICATION
                        TABLE 189 SOUTH AMERICA: MARKET, BY APPLICATION,  2015–2019 (USD MILLION)
                        TABLE 190 SOUTH AMERICA: MARKET, BY APPLICATION,  2020–2025 (USD MILLION)
             11.6.4 BY END USER
                        TABLE 191 SOUTH AMERICA: MARKET, BY END USER, 2015–2019 (USD MILLION)
                        TABLE 192 SOUTH AMERICA: MARKET, BY END USER, 2020–2025 (USD MILLION)
             11.6.5 VOLTAGE
                        TABLE 193 SOUTH AMERICA: MARKET, BY VOLTAGE, 2015–2019 (USD MILLION)
                        TABLE 194 SOUTH AMERICA: MARKET, BY VOLTAGE, 2020–2025 (USD MILLION)
             11.6.6 CLASS
                        TABLE 195 SOUTH AMERICA: MARKET, BY CLASS, 2015–2019 (USD MILLION)
                        TABLE 196 SOUTH AMERICA: MARKET, BY CLASS, 2020–2025 (USD MILLION)
             11.6.7 BY COUNTRY
                        TABLE 197 SOUTH AMERICA: MARKET, BY COUNTRY, 2015–2019 (USD MILLION)
                        TABLE 198 SOUTH AMERICA: MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
                        11.6.7.1 Brazil
                                     11.6.7.1.1 Increased focus on grid modernization to meet growing electricity demand to drive market growth in Brazil
                                     11.6.7.1.2 By type
                                                    TABLE 199 BRAZIL: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 200 BRAZIL: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.6.7.1.3 By application
                                                    TABLE 201 BRAZIL: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 202 BRAZIL: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.6.7.2 Argentina
                                     11.6.7.2.1 Significant infrastructure investments to offset economic damages induced by COVID-19 to create opportunity for market in Argentina
                                     11.6.7.2.2 By type
                                                    TABLE 203 ARGENTINA: MARKET, BY TYPE, 2015–2019 (USD MILLION)
                                                    TABLE 204 ARGENTINA: MARKET, BY TYPE, 2020–2025 (USD MILLION)
                                     11.6.7.2.3 By application
                                                    TABLE 205 ARGENTINA: MARKET, BY APPLICATION, 2015–2019 (USD MILLION)
                                                    TABLE 206 ARGENTINA: MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
                        11.6.7.3 Rest of South America
                                     11.6.7.3.1 By type
                                                    TABLE 207 REST OF SOUTH AMERICA: MARKET, BY TYPE,  2015–2019 (USD MILLION)
                                                    TABLE 208 REST OF SOUTH AMERICA: MARKET, BY TYPE,  2020–2025 (USD MILLION)
                                     11.6.7.3.2 By application
                                                    TABLE 209 REST OF SOUTH AMERICA: MARKET, BY APPLICATION,  2015–2019 (USD MILLION)
                                                    TABLE 210 REST OF SOUTH AMERICA: MARKET, BY APPLICATION,  2020–2025 (USD MILLION)

12 COMPETITIVE LANDSCAPE (Page No. - 183)
     12.1 OVERVIEW
             FIGURE 48 KEY DEVELOPMENTS IN SURGE ARRESTER MARKET DURING 2017–2020
     12.2 MARKET EVALUATION FRAMEWORK
           FIGURE 49 MARKET EVALUATION FRAMEWORK, 2017–2020
     12.3 COMPANY EVALUATION QUADRANT
             12.3.1 STAR
             12.3.2 EMERGING LEADERS
             12.3.3 PERVASIVE
             12.3.4 PARTICIPANT
           FIGURE 50 COMPETITIVE LEADERSHIP MAPPING: MARKET, 2019
     12.4 MARKET SHARE OF KEY PLAYERS, 2019
             FIGURE 51 SHARE ANALYSIS OF TOP PLAYERS IN MARKET, 2019
     12.5 RANKING AND REVENUE ANALYSIS OF TOP 5 MARKET PLAYER
             FIGURE 52 RANKING OF TOP PLAYERS IN MARKET, 2019
             FIGURE 53 REVENUE ANALYSIS OF SURGE ARRESTER MANUFACTURERS, 2015–2019
     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 (Page No. - 192)
(Business and financial overview, Products offered, Recent Developments, MNM view)* 
     13.1 HITACHI ABB POWER GRIDS
              FIGURE 54 HITACHI ABB POWER GRIDS: COMPANY SNAPSHOT
     13.2 SIEMENS ENERGY
              FIGURE 55 SIEMENS ENERGY: COMPANY SNAPSHOT
     13.3 GENERAL ELECTRIC (GE)
              FIGURE 56 GE: COMPANY SNAPSHOT
     13.4 EATON
              FIGURE 57 EATON: COMPANY SNAPSHOT
     13.5 HUBBELL
              FIGURE 58 HUBBELL: COMPANY SNAPSHOT
     13.6 SCHNEIDER ELECTRIC
              FIGURE 59 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
     13.7 CG POWER AND INDUSTRIAL SOLUTIONS
              FIGURE 60 CG POWER AND INDUSTRIAL SOLUTIONS: COMPANY SNAPSHOT
     13.8 MITSUBISHI ELECTRIC
              FIGURE 61 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT
     13.9 TE CONNECTIVITY
              FIGURE 62 TE CONNECTIVITY: COMPANY SNAPSHOT
     13.10 MEIDENSHA
              FIGURE 63 MEIDENSHA: COMPANY SNAPSHOT
     13.11 ELPRO INTERNATIONAL
              FIGURE 64 ELPRO INTERNATIONAL: COMPANY SNAPSHOT
     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
*Details on Business and financial overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies. 

14 APPENDIX (Page No. - 226)
     14.1 INSIGHTS OF INDUSTRY EXPERTS
     14.2 DISCUSSION GUIDE
     14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     14.4 AVAILABLE CUSTOMIZATIONS
     14.5 RELATED REPORTS
     14.6 AUTHOR DETAILS

This study involved four major activities in estimating the current size of the surge arrester market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. After that, the market breakdown and data triangulation were done to estimate the market size of the segments and sub-segments.

Secondary Research

This research study involved extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases. 

Primary Research

The surge arrester market comprises several stakeholders, such as end-product manufacturers, service providers, and end-users in the supply chain. This market's demand-side is characterized by its end-users, such as utilities, industries, railway & metro companies, among others. The supply-side is characterized by surge arrester manufacturers and others. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:

Surge Arrester Market  Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global market and its dependent submarkets. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size includes the following:

  • The industry and market's key players have been identified through extensive secondary research, and their market share in the respective regions has been determined through both primary and secondary research.
  • In terms of value, the industry’s supply chain and market size have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Global Surge Arrester Market Size: Top-Down Approach

Surge Arrester Market  Size, Top-Down Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To define and describe the global market by type, application, end user, voltage, class, and region.
  • To provide detailed information about the major factors influencing the market (drivers, restraints, opportunities, and industry-specific challenges).
  • To strategically analyze the global market with respect to individual growth trends, future expansions, and each segment's contribution to the market.
  • The impact of the COVID-19 pandemic on the market has been analyzed to estimate the market size.
  • To analyze market opportunities for stakeholders and details of the competitive landscape for market leaders.
  • To forecast the growth of the global surge arrester market with respect to the main regions (Asia Pacific, North America, Europe, Middle East & Africa, and South America).
  • To profile and rank key players and comprehensively analyze their market share.
  • To analyze competitive developments such as contracts & agreements, product launches, and mergers & acquisitions in the market.

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Company Information

  • Detailed analyses and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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