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
[199 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 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.
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COVID-19 Impact on the Global Surge Arrester Market
The most significant near-term impacts on surge arresters that are already contracted or under manufacturing process may be felt through supply chains. Industry executives are anticipating delivery and construction slowdowns, either because of the closure of industries to reduce the spread of coronavirus or because the workers start getting sick. Many components/parts for manufacturing surge arrester come from China, Asia Pacific, the US, and some parts of Europe. Manufacturing disruptions in China and the US could contribute to a significant short term decline in the surge arrester market.
Moreover, due to the COVID-19 outbreak, the value of the local currencies of many countries have depreciated. There is a misalignment of supply and demand, which leads to financial losses to the metal manufactures, also the key components used in manufacturing surge arrester are typically procured in US dollars, which could result in increased component costs.
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 surge arrester market growth. According to IEA World Energy Outlook 2020, USD 2.3 trillion was invested globally in the electric network during 20122019, 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
The polymeric surge arrester segment is expected to be the largest contributor to the synchronous condenser market, by type, during the forecast period
The surge arrester market is segmented, by type, into polymeric and porcelain. The polymeric segment is projected to hold the largest market share by 2025. Polymeric insulators are increasingly adopted due to their lighter weight, easy maintenance, superior performance under polluted conditions, and high energy handling capacity.
The AIS segment by application is expected to be the largest market during the forecast period
The surge arrester market, by application, is segmented into AIS, and GIS. The AIS application segment is projected to hold the largest market share by 2025. Low price and easy maintenance of AIS substations is the main reason driving the demand for surge arresters in AIS applications.
The utilities segment is expected to lead the surge arrester market by end user throughout the forecast period
The surge arrester market, by end-user, is segmented into utilities, industries, and transportation. Utilities is the major end-user industry of surge arresters owing to the fact that the sheer size of an electrical network operated by utilities is bigger compared to the industrial and transportation electric infrastructure.
Asia Pacifc is expected to be the largest market during the forecast period
In this report, the surge arrester market has been analyzed with respect to five regions, namely, Asia Pacifc, North America, Europe, Middle East & Africa, and South America. Asia Pacifc is estimated to be the largest market from 2020 to 2025. Surging demand for electricity and the growing need to increase renewable power generation capacity encourage utilities in these countries to invest in transmission and distribution infrastructure. Increased investments in EHV and UHV transmission projects in China and India spur the growth of the surge arrester market in APAC.
Scope of the report
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Report Metric |
Details |
|
Market size available for years |
20182025 |
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Base year considered |
2019 |
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Forecast period |
20202025 |
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Forecast units |
Value (USD) |
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Segments covered |
Type, Application, End User, Voltage, Class, and Region |
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Geographies covered |
Asia Pacific, North America, Europe, Middle East & Africa, South America |
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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 surge arrester market, by type, has been segmented as follows:
- Polymeric
- porcelain
The surge arrester market, by end user, has been segmented as follows:
- Utilities
- Industries
- Transportation
The surge arrester market, by application, has been segmented as follows:
- AIS
- GIS
The surge arrester market, by voltage, has been segmented as follows:
- Medium Voltage
- High Voltage
- Extra High Voltage
The surge arrester market, by class, has been segmented as follows:
- Distribution Class
- Intermediate Class
- Station Class
The surge arrester 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, that 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.
Frequently Asked Questions (FAQ):
What is the current size of the surge arrester market?
The current market size of the global surge arrester market is estimated to be 1.5 billion in 2020.
What are the major drivers for the surge arrester market?
Increasing investments in T&D networks to drive demand for surge arrester along with the growing demand for reliable and continuous power supply are expected to be the major drivers for the surge arrester market
Which is the fastest-growing region during the forecasted period in the surge arrester market?
North America is the fastest-growing region during the forecasted period in the surge arrester market.
Which is the fastest-growing segment by the end-user during the forecasted period in the surge arrester market?
Utilities, by end-user, is the fastest-growing segment during the forecast period. The demand for surge protection and grid reliability is expected to drive the surge arrester market for utilities
Which is the fastest-growing segment, by type, during the forecasted period in the surge arrester market?
Polymeric, by type, is the fastest-growing segment during the forecast period. Polymeric insulators are increasingly adopted due to their lighter weight, easy maintenance, superior performance under polluted conditions, and high energy handling capacity. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 26)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION AND SCOPE
1.2.1 SURGE ARRESTER MARKET: INCLUSIONS AND EXCLUSIONS
TABLE 1 SURGE ARRESTER MARKET, BY TYPE: INCLUSIONS AND EXCLUSIONS
TABLE 2 SURGE ARRESTER MARKET, BY VOLTAGE: INCLUSIONS AND EXCLUSIONS
TABLE 3 SURGE ARRESTER MARKET, BY APPLICATION: INCLUSIONS AND EXCLUSIONS
TABLE 4 SURGE ARRESTER 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. - 32)
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 ARRESTER 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 ARRESTER 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. - 44)
3.1 SCENARIO ANALYSIS
FIGURE 7 SCENARIO ANALYSIS: SURGE ARRESTER MARKET, 20182025
3.1.1 OPTIMISTIC SCENARIO
3.1.2 REALISTIC SCENARIO
3.1.3 PESSIMISTIC SCENARIO
TABLE 5 SURGE ARRESTER MARKET SNAPSHOT
FIGURE 8 POLYMERIC SEGMENT TO LEAD SURGE ARRESTER MARKET, BY TYPE, DURING FORECAST PERIOD
FIGURE 9 AIS APPLICATION TO HOLD LARGER SIZE OF SURGE ARRESTER MARKET IN 2025
FIGURE 10 UTILITIES TO ACCOUNT FOR LARGEST SIZE OF SURGE ARRESTER MARKET, BY END USER, THROUGHOUT FORECAST PERIOD
FIGURE 11 MEDIUM VOLTAGE SEGMENT TO COMMAND SURGE ARRESTER MARKET, BY VOLTAGE, FROM 2020 TO 2025
FIGURE 12 DISTRIBUTION CLASS TO LEAD SURGE ARRESTER MARKET DURING FORECAST PERIOD
FIGURE 13 NORTH AMERICA TO EXHIBIT HIGHEST CAGR IN SURGE ARRESTER MARKET DURING 20202025
4 PREMIUM INSIGHTS (Page No. - 52)
4.1 ATTRACTIVE OPPORTUNITIES IN SURGE ARRESTER MARKET
FIGURE 14 RENEWABLE ENERGY ADOPTION AND ELECTRIFICATION OF TRANSPORTATION SECTOR ARE EXPECTED TO DRIVE SURGE ARRESTER MARKET GROWTH, 20202025
4.2 SURGE ARRESTER MARKET, BY REGION
FIGURE 15 NORTH AMERICAN SURGE ARRESTER MARKET, BY REGION, TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
4.3 SURGE ARRESTER MARKET, BY TYPE
FIGURE 16 POLYMERIC SEGMENT DOMINATED SURGE ARRESTER MARKET, BY TYPE, IN 2019 53
4.4 SURGE ARRESTER MARKET, BY APPLICATION
FIGURE 17 AIS APPLICATIONS DOMINATED SURGE ARRESTER MARKET, BY APPLICATION, IN 2019
4.5 SURGE ARRESTER MARKET, BY END USER
FIGURE 18 UTILITIES HELD LARGEST SHARE OF SURGE ARRESTER MARKET, BY END USER, IN 2019
4.6 SURGE ARRESTER MARKET, BY VOLTAGE
FIGURE 19 MEDIUM-VOLTAGE SURGE ARRESTERS CAPTURED LARGEST MARKET SHARE IN 2019
4.7 SURGE ARRESTER MARKET, BY CLASS
FIGURE 20 DISTRIBUTION CLASS LED SURGE ARRESTER MARKET IN 2019
5 MARKET OVERVIEW (Page No. - 56)
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, 20122019 (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, 20122019 (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, 20092019 (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 arrester 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
5.1 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 PORTERS FIVE FORCES ANALYSIS
FIGURE 33 PORTERS 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. - 74)
6.1 INTRODUCTION
FIGURE 34 POLYMERIC SEGMENT ACCOUNTED FOR LARGER SHARE OF SURGE ARRESTER MARKET, IN TERMS OF VALUE, IN 2019
TABLE 8 SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
TABLE 9 SURGE ARRESTER MARKET, BY TYPE, 20182025 (THOUSAND UNITS)
6.2 POLYMERIC
6.2.1 EASY INSTALLATION AND SUPERIOR PERFORMANCE UNDER POLLUTED CONDITIONS BOOST DEMAND FOR POLYMERIC SURGE ARRESTERS GLOBALLY
TABLE 10 POLYMERIC: SURGE ARRESTER MARKET, BY REGION, 20182025 (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 11 PORCELAIN: SURGE ARRESTER MARKET, BY REGION, 20182025 (USD MILLION)
7 SURGE ARRESTER MARKET, BY APPLICATION (Page No. - 78)
7.1 INTRODUCTION
FIGURE 35 AIS SEGMENT ACCOUNTED FOR LARGER SHARE OF SURGE ARRESTER MARKET, IN TERMS OF VALUE, IN 2019
TABLE 12 SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
TABLE 13 SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (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 14 GIS: SURGE ARRESTER MARKET, BY REGION, 20182025 (USD MILLION)
7.3 AIS
7.3.1 GROWTH OF AIS DRIVEN BY THEIR LOW INSTALLATION COST AND EASY MAINTENANCE
TABLE 15 AIS: SURGE ARRESTER MARKET, BY REGION, 20182025 (USD MILLION)
8 SURGE ARRESTER MARKET, BY END USER (Page No. - 83)
8.1 INTRODUCTION
FIGURE 36 UTILITIES SEGMENT ACCOUNTED FOR LARGEST SHARE OF SURGE ARRESTER MARKET, IN TERMS OF VALUE, IN 2019
TABLE 16 SURGE ARRESTER MARKET, BY END USER, 20182025 (USD MILLION)
TABLE 17 SURGE ARRESTER MARKET, BY END USER, 20182025 (THOUSAND UNITS)
8.2 UTILITIES
8.2.1 INCREASED REQUIREMENT FOR RELIABLE AND CONTINUOUS POWER SUPPLY TO FUEL DEMAND FOR SURGE ARRESTERS
TABLE 18 UTILITIES: SURGE ARRESTER MARKET, BY REGION, 20182025 (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 19 INDUSTRIES: SURGE ARRESTER MARKET, BY REGION, 20182025 (USD MILLION)
8.4 TRANSPORTATION
8.4.1 HUGE INVESTMENTS IN RAILWAY ELECTRIFICATION AND NEW METRO RAIL PROJECTS TO FOSTER MARKET GROWTH
TABLE 20 TRANSPORTATION: SURGE ARRESTER MARKET, BY REGION, 20182025 (USD MILLION)
9 SURGE ARRESTER MARKET, BY VOLTAGE (Page No. - 88)
9.1 INTRODUCTION
FIGURE 37 MEDIUM VOLTAGE SEGMENT ACCOUNTED FOR LARGER SHARE OF SURGE ARRESTER MARKET, IN TERMS OF VALUE, IN 2019
TABLE 21 SURGE ARRESTER MARKET, BY VOLTAGE, 20182025 (USD MILLION)
TABLE 22 SURGE ARRESTER MARKET, BY VOLTAGE, 20182025 (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 23 MEDIUM VOLTAGE: SURGE ARRESTER MARKET, BY REGION, 20182025 (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 24 HIGH VOLTAGE: SURGE ARRESTER MARKET, BY REGION, 20182025 (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 25 EXTRA HIGH VOLTAGE: SURGE ARRESTER MARKET, BY REGION, 20182025 (USD MILLION)
10 SURGE ARRESTER MARKET, BY CLASS (Page No. - 93)
10.1 INTRODUCTION
FIGURE 38 DISTRIBUTION CLASS ACCOUNTED FOR LARGEST SHARE OF SURGE ARRESTER MARKET, IN TERMS OF VALUE, IN 2019
TABLE 26 SURGE ARRESTER MARKET, BY CLASS, 20182025 (USD MILLION)
TABLE 27 SURGE ARRESTER MARKET, BY CLASS, 20182025 (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 28 DISTRIBUTION CLASS: SURGE ARRESTER MARKET, BY REGION, 20182025 (USD MILLION)
10.3 INTERMEDIATE CLASS
10.3.1 SIGNIFICANT INVESTMENTS IN RENEWABLE ENERGY PROJECTS TO BOOST DEMAND FOR INTERMEDIATE-CLASS SURGE ARRESTERS
TABLE 29 INTERMEDIATE CLASS: SURGE ARRESTER MARKET, BY REGION, 20182025 (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 30 STATION CLASS: SURGE ARRESTER MARKET, BY REGION, 20182025 (USD MILLION)
11 SURGE ARRESTER MARKET, BY REGION (Page No. - 98)
11.1 INTRODUCTION
FIGURE 39 NORTH AMERICA TO WITNESS HIGHEST CAGR IN SURGE ARRESTER MARKET FROM 2020 TO 2025
FIGURE 40 SURGE ARRESTER MARKET SHARE IN TERMS OF VALUE, BY REGION, 2019
TABLE 31 SURGE ARRESTER MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 32 SURGE ARRESTER MARKET, BY REGION, 20182025 (THOUSAND UNITS)
11.2 NORTH AMERICA
11.2.1 IMPACT OF COVID-19 ON SURGE ARRESTER MARKET IN NORTH AMERICA
TABLE 33 NORTH AMERICA: SURGE ARRESTER MARKET, BY SCENARIO ANALYSIS, 20182025 (USD MILLION)
FIGURE 41 NORTH AMERICA: SURGE ARRESTER MARKET SCENARIO ANALYSIS
FIGURE 42 SNAPSHOT: SURGE ARRESTER MARKET IN NORTH AMERICA
11.2.2 BY TYPE
TABLE 34 NORTH AMERICA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.2.3 BY APPLICATION
TABLE 35 NORTH AMERICA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.2.4 BY END USER
TABLE 36 NORTH AMERICA: SURGE ARRESTER MARKET, BY END USER, 20182025 (USD MILLION)
11.2.5 BY VOLTAGE
TABLE 37 NORTH AMERICA: SURGE ARRESTER MARKET, BY VOLTAGE, 20182025 (USD MILLION)
11.2.6 BY CLASS
TABLE 38 NORTH AMERICA: SURGE ARRESTER MARKET, BY CLASS, 20182025 (USD MILLION)
11.2.7 BY COUNTRY
TABLE 39 NORTH AMERICA: SURGE ARRESTER MARKET, BY COUNTRY, 20182025 (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
TABLE 40 US: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.2.7.1.3 By application
TABLE 41 US: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (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 42 CANADA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.2.7.2.3 By application
TABLE 43 CANADA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (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 44 MEXICO: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.2.7.3.3 By application
TABLE 45 MEXICO: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.3 ASIA PACIFIC
11.3.1 IMPACT OF COVID-19 ON SURGE ARRESTER MARKET IN ASIA PACIFIC
TABLE 46 ASIA PACIFIC: SURGE ARRESTER MARKET, BY SCENARIO ANALYSIS, 20182025 (USD MILLION)
FIGURE 43 ASIA PACIFIC: SURGE ARRESTER MARKET SCENARIO ANALYSIS
FIGURE 44 SNAPSHOT: SURGE ARRESTER MARKET IN ASIA PACIFIC
11.3.2 BY TYPE
TABLE 47 ASIA PACIFIC: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.3.3 BY APPLICATION
TABLE 48 ASIA PACIFIC: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.3.4 BY END USER
TABLE 49 ASIA PACIFIC: SURGE ARRESTER MARKET, BY END USER, 20182025 (USD MILLION)
11.3.5 BY VOLTAGE
TABLE 50 ASIA PACIFIC: SURGE ARRESTER MARKET, BY VOLTAGE, 20182025 (USD MILLION)
11.3.6 BY CLASS
TABLE 51 ASIA PACIFIC: SURGE ARRESTER MARKET, BY CLASS, 20182025 (USD MILLION)
11.3.7 BY COUNTRY
TABLE 52 ASIA PACIFIC: SURGE ARRESTER MARKET, BY COUNTRY, 20182025 (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 53 CHINA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.3.7.1.3 By application
TABLE 54 CHINA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (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 55 INDIA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.3.7.2.3 By application
TABLE 56 INDIA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (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 57 AUSTRALIA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.3.7.3.3 By application
TABLE 58 AUSTRALIA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (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 59 JAPAN: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.3.7.4.3 By application
TABLE 60 JAPAN: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (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 61 SOUTH KOREA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.3.7.5.3 By application
TABLE 62 SOUTH KOREA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.3.7.6 Rest of Asia Pacific
11.3.7.6.1 By type
TABLE 63 REST OF ASIA PACIFIC: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.3.7.6.2 By application
TABLE 64 REST OF ASIA PACIFIC: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.4 EUROPE
11.4.1 IMPACT OF COVID-19 ON SURGE ARRESTER MARKET IN EUROPE
TABLE 65 EUROPE: SURGE ARRESTER MARKET, BY SCENARIO ANALYSIS, 20182025 (USD MILLION)
FIGURE 45 EUROPE: SURGE ARRESTER MARKET SCENARIO ANALYSIS
11.4.2 BY TYPE
TABLE 66 EUROPE: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.4.3 BY APPLICATION
TABLE 67 EUROPE: SURGE ARRESTER MARKET, BY APPLICATION,20182025 (USD MILLION)
11.4.4 BY END USER
TABLE 68 EUROPE: SURGE ARRESTER MARKET, BY END USER, 20182025 (USD MILLION)
11.4.5 BY VOLTAGE
TABLE 69 EUROPE: SURGE ARRESTER MARKET, BY VOLTAGE,20182025 (USD MILLION)
11.4.6 BY CLASS
TABLE 70 EUROPE: SURGE ARRESTER MARKET, BY CLASS, 20182025 (USD MILLION)
11.4.7 BY COUNTRY
TABLE 71 EUROPE: SURGE ARRESTER MARKET, BY COUNTRY,20182025 (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 72 GERMANY: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.4.7.1.3 By application
TABLE 73 GERMANY: SURGE ARRESTER MARKET, BY APPLICATION,20182025 (USD MILLION)
11.4.7.2 Russia
11.4.7.2.1 Substantial investments under new long-term development plan 202024 in Russia to create growth opportunity for surge arrester market
11.4.7.2.2 By type
TABLE 74 RUSSIA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.4.7.2.3 By application
TABLE 75 RUSSIA: SURGE ARRESTER MARKET, BY APPLICATION,20182025 (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 76 UK: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.4.7.3.3 By application
TABLE 77 UK: SURGE ARRESTER MARKET, BY APPLICATION,20182025 (USD MILLION)
11.4.7.4 France
11.4.7.4.1 Large-scale grid investments by RTE in France to fuel surge arrester market growth
11.4.7.4.2 By type
TABLE 78 FRANCE: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.4.7.4.3 By application
TABLE 79 FRANCE: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.4.7.5 Rest of Europe
11.4.7.5.1 By type
TABLE 80 REST OF EUROPE: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.4.7.5.2 By application
TABLE 81 REST OF EUROPE: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.5 MIDDLE EAST & AFRICA
11.5.1 IMPACT OF COVID-19 ON SURGE ARRESTER MARKET IN MIDDLE EAST & AFRICA
TABLE 82 MIDDLE EAST & AFRICA: SURGE ARRESTER MARKET, SCENARIO ANALYSIS, 20182025 (USD MILLION)
FIGURE 46 MIDDLE EAST & AFRICA: SURGE ARRESTER MARKET SCENARIO ANALYSIS
11.5.2 BY TYPE
TABLE 83 MIDDLE EAST & AFRICA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.5.3 BY APPLICATION
TABLE 84 MIDDLE EAST & AFRICA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.5.4 BY END USER
TABLE 85 MIDDLE EAST & AFRICA: SURGE ARRESTER MARKET, BY END USER, 20182025 (USD MILLION)
11.5.5 BY VOLTAGE
TABLE 86 MIDDLE EAST & AFRICA: SURGE ARRESTER MARKET, BY VOLTAGE, 20182025 (USD MILLION)
11.5.6 BY CLASS
TABLE 87 MIDDLE EAST & AFRICA: SURGE ARRESTER MARKET, BY CLASS, 20182025 (USD MILLION)
11.5.7 BY COUNTRY
TABLE 88 MIDDLE EAST & AFRICA: SURGE ARRESTER MARKET, BY COUNTRY, 20182025 (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 89 SAUDI ARABIA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.5.7.1.3 By application
TABLE 90 SAUDI ARABIA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (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 91 UAE: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.5.7.2.3 By application
TABLE 92 UAE: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (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 93 SOUTH AFRICA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.5.7.3.3 By application
TABLE 94 SOUTH AFRICA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (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 95 NIGERIA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.5.7.4.3 By Application
TABLE 96 NIGERIA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.5.7.5 Rest of Middle East
11.5.7.5.1 By type
TABLE 97 REST OF MIDDLE EAST & AFRICA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.5.7.5.2 By application
TABLE 98 REST OF MIDDLE EAST: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.6 SOUTH AMERICA
11.6.1 IMPACT OF COVID-19 ON SURGE ARRESTER MARKET IN SOUTH AMERICA
TABLE 99 SOUTH AMERICA: SURGE ARRESTER MARKET, SCENARIO ANALYSIS, 20182025 (USD MILLION)
FIGURE 47 SOUTH AMERICA: SURGE ARRESTER MARKET SCENARIO ANALYSIS
11.6.2 BY TYPE
TABLE 100 SOUTH AMERICA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.6.3 BY APPLICATION
TABLE 101 SOUTH AMERICA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.6.4 BY END USER
TABLE 102 SOUTH AMERICA: SURGE ARRESTER MARKET, BY END USER, 20182025 (USD MILLION)
11.6.5 VOLTAGE
TABLE 103 SOUTH AMERICA: SURGE ARRESTER MARKET, BY VOLTAGE, 20182025 (USD MILLION)
11.6.6 CLASS
TABLE 104 SOUTH AMERICA: SURGE ARRESTER MARKET, BY CLASS, 20182025 (USD MILLION)
11.6.7 BY COUNTRY
TABLE 105 SOUTH AMERICA: SURGE ARRESTER MARKET, BY COUNTRY, 20182025 (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 106 BRAZIL: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.6.7.1.3 By application
TABLE 107 BRAZIL: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (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 surge arrester market in Argentina
11.6.7.2.2 By type
TABLE 108 ARGENTINA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.6.7.2.3 By application
TABLE 109 ARGENTINA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
11.6.7.3 Rest of South America
11.6.7.3.1 By type
TABLE 110 REST OF SOUTH AMERICA: SURGE ARRESTER MARKET, BY TYPE, 20182025 (USD MILLION)
11.6.7.3.2 By application
TABLE 111 REST OF SOUTH AMERICA: SURGE ARRESTER MARKET, BY APPLICATION, 20182025 (USD MILLION)
12 COMPETITIVE LANDSCAPE (Page No. - 148)
12.1 OVERVIEW
FIGURE 48 KEY DEVELOPMENTS IN SURGE ARRESTER MARKET DURING 20172020
12.2 MARKET EVALUATION FRAMEWORK
FIGURE 49 MARKET EVALUATION FRAMEWORK, 20172020
12.3 COMPANY EVALUATION QUADRANT
12.3.1 STAR
12.3.2 EMERGING LEADERS
12.3.3 PERVASIVE
12.3.4 EMERGING COMPANIES
FIGURE 50 COMPETITIVE LEADERSHIP MAPPING: SURGE ARRESTER MARKET, 2019
12.4 MARKET SHARE OF KEY PLAYERS, 2019
FIGURE 51 SHARE ANALYSIS OF TOP PLAYERS IN SURGE ARRESTER MARKET, 2019
12.5 RANKING AND REVENUE ANALYSIS OF TOP 5 MARKET PLAYER
FIGURE 52 RANKING OF TOP PLAYERS IN SURGE ARRESTER MARKET, 2019
FIGURE 53 REVENUE ANALYSIS OF SURGE ARRESTER MANUFACTURERS, 20152019
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. - 157)
(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. - 192)
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 Hoovers, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global surge arrester 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:
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 surge arrester 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 industrys 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
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 surge arrester 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 surge arrester 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 surge arrester 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 surge arrester market.
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the clients specific needs. The following customization options are available for this report:
Company Information
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Get in-depth analysis of the COVID-19 impact on the Surge Arrester Market
Benchmarking the rapid strategy shifts of the Top 100 companies in the Surge Arrester Market
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Growth opportunities and latent adjacency in Surge Arrester Market