Surge Arrester Market by Type (Polymeric, Porcelain), Voltage (Medium, High, Extra-High), Class (Distribution, Intermediate, Station), End-User (Utilities, Industries, Transportation), and Region - Global Forecast to 2023
[130 Pages Report] The global surge arrester market was valued at USD 1.49 Billion in 2017. It is projected to reach USD 2.01 Billion by 2023, growing at a CAGR of 5.11%, from 2018 to 2023. Investments in smart grids and energy systems, protection of equipment from failure caused by frequent voltage spikes, and aging power infrastructure are some of the factors driving market growth. The market has been segmented on the basis of type, voltage, class, end-user, and region.
The years considered for the study are as follows:
- Base Year: 2017
- Estimated Year: 2018
- Projected Year: 2023
- Forecast Period: 2018–2023
The base year considered for company profiles is 2017. Whenever information was unavailable for the base year, the prior year has been considered.
Objectives of the Study
- To define, describe, and forecast the market by type, voltage, class, end-user, and region
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the market with respect to individual growth trends, future projections, and the contribution of each segment to the market
- To track and analyze competitive developments such as contracts & agreements, new product launches, expansions and investments, and partnerships and collaborations in the market
- To profile key players and comprehensively analyze their market ranking and core competencies
Research Methodology
This research study involved the use of extensive secondary sources, directories, and databases, such as D&B, Bloomberg Businessweek, and Factiva, to identify and collect information useful for a technical, market-oriented, and commercial study of the market. Primary sources are mainly industry experts from the core and related industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, standards and certification organizations of companies, and organizations related to all the segments of this industry’s value chain. The points below explain the research methodology.
- Study of the annual revenues and market developments of the major players that provide surge arresters
- Assessment of future trends and growth of end-users
- Assessment of the market with respect to the type of technology used for different applications
- Study of contracts and developments related to the market by key players across different regions
- Finalization of overall market sizes by triangulating the supply-side data, which includes product developments, supply chain, and annual revenues of companies supplying surge arresters across the globe
After arriving at the overall market size, the total market has been split into several segments and sub-segments. The figure below illustrates the breakdown of primaries conducted during the research study, based on the company type, designation, and region.
To know about the assumptions considered for the study, download the pdf brochure
Some of the leading global manufacturers of surge arresters are ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Hubbell (US), Schneider (France), CG Power (India), GE (US), Mitsubishi Electric (Japan), TE Connectivity (Switzerland), CHINT Group (China), and Lamco (India).
Target Audience:
The report’s target audience includes:
- Transmission and distribution utilities
- State and national regulatory authorities
- Power generation utilities
- Consulting companies and associations in the energy and power sector
- Government and research organizations
- Surge arrester manufacturers
- Investment banks
- Engineering, procurement, and construction companies in the distribution sector
Scope of the Report:
Surge Arrester Market
- Polymeric
- Porcelain
- Medium Voltage
- High Voltage
- Extra-High Voltage
- Distribution Class
- Intermediate Class
- Station Class
- Utilities
- Industries
- Transportation
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
By Type
By Voltage
By Class
By End-User
By Region
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of region/country-specific analysis
Company Information
- Detailed analyses and profiling of additional market players (up to 5)
The global surge arrester market is estimated to be USD 1.56 Billion in 2018 and is expected to grow at a CAGR of 5.11%, during the forecast period, to reach USD 2.01 Billion by 2023. Investments in smart grids and energy systems, the need to reduce equipment failure caused by frequent voltage spikes, and aging power infrastructure are driving the market across the world.
In this report, the surge arrester has been segmented, by type, into polymeric and porcelain. The polymeric surge arrester segment dominated the market due to the versatility of design, which leads to a wide range of arresters with respect to mechanical properties, short-circuit behavior, and costs.
The surge arrester has been further segmented, by class, into distribution, intermediate, station class. The distribution class segment dominates the market due to the growth in smart grid infrastructure and an increase in industrialization in developing countries. The distribution class market is expected to grow at the highest CAGR, during the forecast period, in Asia Pacific and South America, with growth centered on India, China, Brazil, and Argentina.
Based on voltage rating, the surge arrester has been segmented into medium, high, and extra-high voltage. The extra-high voltage segment is expected to dominate the market during the forecast period. A rise in the demand for electricity in residential areas and expansion of electrical distribution networks to reduce power outages are the key factors driving the segment during the forecast period.
The market has been analyzed with respect to 5 regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Europe dominated the surge arrester. The market in Europe is expected to hold the largest share of the global market during the forecast period. Aging electrical infrastructure and the need to reduce equipment failure caused by frequent voltage spikes are driving the market in Europe.
The major factor restraining the growth of the market is counterfeiting of products by local players. The surge arrester industry is very fragmented and offers opportunities for consolidation. This can be seen in the several major mergers & acquisitions taking place in the industry.
In this industry, most players are global multinational companies. Some of the leading players in the surge arrester market include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Hubbell (US), Schneider (France), CG Power (India), GE (US), Mitsubishi Electric (Japan), TE Connectivity (Switzerland), CHINT Group (China), and Lamco (India). These players have adopted growth strategies such as new product launches, contracts & agreements, and expansions to capture a larger share of the market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 13)
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Introduction
2.2 Research Data
2.2.1 Secondary Data
2.2.2 Primary Data
2.2.2.1 Key Data From Primary Sources
2.2.2.2 Key Industry Insights
2.2.2.3 Breakdown of Primary Interviews
2.3 Market Size Estimation
2.4 Market Breakdown & Data Triangulation
2.5 Research Assumptions
3 Executive Summary (Page No. - 25)
4 Premium Insights (Page No. - 29)
4.1 Attractive Opportunities in the Surge Arrester Market During the Forecast Period
4.2 Surge Arrester, By Country
4.3 Europe Surge Arrester, By End-User & Country
4.4 Surge Arrester, By Type
4.5 Surge Arrester, By Class
4.6 Surge Arrester, By Voltage
5 Market Overview (Page No. - 34)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Investments in Smart Grids & Energy Systems
5.2.1.2 Need to Reduce Equipment Failure Caused By Frequent Voltage Spikes
5.2.1.3 Aging Power Infrastructure
5.2.2 Restraints
5.2.2.1 Increasing Competition From the Unorganized Sector
5.2.3 Opportunities
5.2.3.1 Increasing Investments in Transmission & Distribution Infrastructure
5.2.3.2 Growing Cross-Border Electricity Trade
5.2.4 Challenges
5.2.4.1 Delays in Grid Expansion Projects
6 Surge Arrester Market, By Type (Page No. - 39)
6.1 Introduction
6.2 Polymeric
6.3 Porcelain
7 Surge Arrester, By Class (Page No. - 43)
7.1 Introduction
7.2 Distribution Class
7.3 Intermediate Class
7.4 Station Class
8 Surge Arrester, By Voltage (Page No. - 48)
8.1 Introduction
8.2 Medium Voltage
8.3 High Voltage
8.4 Extra-High Voltage
9 Surge Arrester, By End-User (Page No. - 52)
9.1 Introduction
9.2 Utilities
9.3 Industries
9.4 Transportation
10 Surge Arrester, By Region (Page No. - 57)
10.1 Introduction
10.2 Europe
10.2.1 By Type
10.2.2 By Voltage
10.2.3 By Class
10.2.4 By End-User
10.2.5 By Country
10.2.5.1 Germany
10.2.5.2 UK
10.2.5.3 France
10.2.5.4 Russia
10.2.5.5 Rest of Europe
10.3 Asia Pacific
10.3.1 By Type
10.3.2 By Voltage
10.3.3 By Class
10.3.4 By End-User
10.3.5 By Country
10.3.5.1 China
10.3.5.2 Australia
10.3.5.3 India
10.3.5.4 Japan
10.3.5.5 South Korea
10.3.5.6 Rest of Asia Pacific
10.4 North America
10.4.1 By Type
10.4.2 By Voltage
10.4.3 By Class
10.4.4 By End-User
10.4.5 By Country
10.4.5.1 US
10.4.5.2 Canada
10.4.5.3 Mexico
10.5 Middle East & Africa
10.5.1 By Type
10.5.2 By Voltage
10.5.3 By Class
10.5.4 By End-User
10.5.5 By Country
10.5.5.1 Saudi Arabia
10.5.5.2 UAE
10.5.5.3 Nigeria
10.5.5.4 South Africa
10.5.5.5 Rest of the Middle East & Africa
10.6 South America
10.6.1 By Type
10.6.2 By Voltage
10.6.3 By Class
10.6.4 By End-User
10.6.5 By Country
10.6.5.1 Brazil
10.6.5.2 Argentina
10.6.5.3 Rest of South America
11 Competitive Landscape (Page No. - 89)
11.1 Introduction
11.2 Ranking of Players & Market Structure
11.3 Competitive Scenario
11.3.1 Contracts & Agreements
11.3.2 New Product Launches
11.3.3 Investments and Expansions
11.3.4 Others
12 Company Profiles (Page No. - 94)
(Business Overview, Products Offered, Recent Developments & MnM View)*
12.1 Benchmarking
12.2 ABB
12.3 Eaton
12.4 Siemens
12.5 GE
12.6 Hubbell
12.7 TE Connectivity
12.8 Schneider Electric
12.9 Lamco
12.10 Mitsubishi Electric
12.11 CG Power
12.12 Elpro
12.13 NGK Insulators
*Details on Business Overview, Products Offered, Recent Developments & MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 122)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.4 Introducing RT: Real-Time Market Intelligence
13.5 Available Customizations
13.6 Related Reports
13.7 Author Details
List of Tables (72 Tables)
Table 1 Surge Arresters Market Snapshot
Table 2 Key Smart Grid Investment Initiatives
Table 3 T&D Infrastructure Expansion Plans
Table 4 Market Size, By Type, USD Million, 2016–2023
Table 5 Polymeric: Market Size, By Region, USD Million, 2016–2023
Table 6 Porcelain: Market Size, By Region, USD Million, 2016-2023
Table 7 Market Size, By Class, USD Million, 2016–2023
Table 8 Distribution Class: Market Size, By Region, 2016–2023 (USD Million)
Table 9 Intermediate Class: Market Size, By Region, 2016–2023 (USD Million)
Table 10 Station Class: Market Size, By Region, 2016–2023 (USD Million)
Table 11 Market Size, By Voltage, USD Million, 2016–2023
Table 12 Medium Voltage: Market Size, By Region, 2016–2023 (USD Mllion)
Table 13 High Voltage: Market Size, By Region, 2016–2023 (USD Million)
Table 14 Extra-High Voltage: Market Size, By Region, 2016–2023 (USD Million)
Table 15 Utilities Segment is Expected to Lead the Market During the Forecast Period
Table 16 Market Size, By End-User, USD Million, 2016-2023
Table 17 Utilities: Market Size, By Region, 2016–2023 (USD Million)
Table 18 Industries: Market Size, By Region, 2016–2023 (USD Million)
Table 19 Transportation: Market Size, By Region, 2016–2023 (USD Million)
Table 20 Market Size, By Region, 2016–2023 (USD Million)
Table 21 Europe: Market Size, By Type, 2016–2023 (USD Million)
Table 22 Europe: Market Size, By Voltage, 2016–2023 (USD Million)
Table 23 Europe: Market Size, By Class, 2016–2023 (USD Million)
Table 24 Europe: Market Size, By End-User, 2016–2023 (USD Million)
Table 25 Europe: Market Size, By Country, 2016–2023 (USD Million)
Table 26 Germany: Market Size, By Type, 2016–2023 (USD Million)
Table 27 UK: Market Size, By Type, 2016–2023 (USD Million)
Table 28 France: Market Size, By Type, 2016–2023 (USD Million)
Table 29 Russia: Market Size, By Type, 2016–2023 (USD Million)
Table 30 Rest of Europe: Market Size, By Type, 2016–2023 (USD Million)
Table 31 Asia Pacific: Market Size, By Type, 2016–2023 (USD Million)
Table 32 Asia Pacific: Market Size, By Voltage, 2016–2023 (USD Million)
Table 33 Asia Pacific: Market Size, By Class, 2016–2023 (USD Million)
Table 34 Asia Pacific: Market Size, By End-User, 2016–2023 (USD Million)
Table 35 Asia Pacific: Market Size, By Country, 2016–2023 (USD Million)
Table 36 China: Market Size, By Type, 2016–2023 (USD Million)
Table 37 Australia: Market Size, By Type, 2016–2023 (USD Million)
Table 38 India: Market Size, By Type, 2016–2023 (USD Million)
Table 39 Japan: Market Size, By Type, 2016–2023 (USD Million)
Table 40 South Korea: Market Size, By Type, 2016–2023 (USD Million)
Table 41 Rest of Asia Pacific: Market Size, By Type, 2016–2023 (USD Million)
Table 42 North America: Market Size, By Type, 2016–2023 (USD Million)
Table 43 North America: Market Size, By Voltage, 2016–2023 (USD Million)
Table 44 North America: Market Size, By Class, 2016–2023 (USD Million)
Table 45 North America: Market Size, By End-User, 2016–2023 (USD Million)
Table 46 North America: Market Size, By Country, 2016–2023 (USD Million)
Table 47 US: Market Size, By Type, 2016–2023 (USD Million)
Table 48 Canada: Market Size, By Type, 2016–2023 (USD Million)
Table 49 Mexico: Market Size, By Type, 2016–2023 (USD Million)
Table 50 Middle East & Africa: Market Size, By Type, 2016–2023 (USD Million)
Table 51 Middle East & Africa: Market Size, By Voltage, 2016–2023 (USD Million)
Table 52 Middle East & Africa: Market Size, By Class, 2016–2023 (USD Million)
Table 53 Middle East & Africa: Market Size, By End-User, 2016–2023 (USD Million)
Table 54 Middle East & Africa: Market Size, By Country, 2016–2023 (USD Million)
Table 55 Saudi Arabia: Market Size, By Type, 2016–2023 (USD Million)
Table 56 UAE: Market Size, By Type, 2016–2023 (USD Million)
Table 57 Nigeria: Market Size, By Type, 2016–2023 (USD Million)
Table 58 South Africa: Market Size, By Type, 2016–2023 (USD Million)
Table 59 Rest of the Middle East & Africa: Market Size, By Type, 2016–2023 (USD Million)
Table 60 South America: Market Size, By Type, 2016–2023 (USD Million)
Table 61 South America: Market Size, By Voltage, 2016–2023 (USD Million)
Table 62 South America: Market Size, By Class, 2016–2023 (USD Million)
Table 63 South America: Market Size, By End-User, 2016–2023 (USD Million)
Table 64 South America: Market Size, By Country, 2016–2023 (USD Million)
Table 65 Brazil: Market Size, By Type, 2016–2023 (USD Million)
Table 66 Argentina: Market Size, By Type, 2016–2023 (USD Million)
Table 67 Rest of South America: Market Size, By Type, 2016–2023 (USD Million)
Table 68 ABB, the Most Active Player in the Market Between the Years 2015 and February 2018
Table 69 Contracts & Agreements, 2015–February 2018
Table 70 New Product Launches, 2015–February 2018
Table 71 Investments and Expansions, 2015–February 2018
Table 72 Others, 2015–February 2018
List of Figures (39 Figures)
Figure 1 Markets Covered: Surge Arrester
Figure 2 Surge Arresters Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Polymeric-Type Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 8 Medium Voltage Segment is Expected to Lead the Market During the Forecast Period
Figure 9 Distribution Class Segment is Expected to Lead the Market in 2018
Figure 10 Utilities Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 11 Europe Dominated the Market in 2017
Figure 12 Investments in Smart Grid and Energy Systems are Driving the Surge Arrester Industry
Figure 13 The China Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 Germany & Utilities Segment Dominated the Surge Arresters Industry in Europe
Figure 15 The Polymeric Segment is Expected to Dominate the Market During the Forecast Period
Figure 16 The Distribution Class Segment Dominated in 2017
Figure 17 The Medium Voltage Segment Dominated in 2017
Figure 18 Surge Arrester Industry: Drivers, Restraints, Opportunities, & Challenges
Figure 19 Polymeric Segment Dominated the Market in 2017
Figure 20 Distribution Class Segment Dominated the Market in 2017
Figure 21 Medium Voltage Segment is Expected to Lead the Market During the Forecast Period
Figure 22 Vietnam, Qatar, & China Contribute Heavily to the Growth of Power Generation During 2005–2015
Figure 23 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Europe Led the Market in 2017
Figure 25 Europe: Market Snapshot
Figure 26 Asia Pacific: Market Snapshot
Figure 27 Key Developments in Market, 2015-February 2018
Figure 28 ABB Led the Market in 2017
Figure 29 ABB: Company Snapshot
Figure 30 Eaton: Company Snapshot
Figure 31 Siemens: Company Snapshot
Figure 32 GE: Company Snapshot
Figure 33 Hubbell: Company Snapshot
Figure 34 TE Connectivity: Company Snapshot
Figure 35 Schneider Electric: Company Snapshot
Figure 36 Mitsubishi Electric: Company Snapshot
Figure 37 CG Power: Company Snapshot
Figure 38 Elpro: Company Snapshot
Figure 39 NGK Insulators: Company Snapshot
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